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ICYMI: HBR on the value of long-term thinking
We know that true/organic “customer loyalty” is a longer-term play. As one example, a company can invest in short-term promotions and shell-games to pull in deals “this quarter,” or they can invest in building their “advocate army” and reap the rewards of accelerated profitable growth. The latter takes longer and isn’t likely to show strong results “this quarter” but will pay enormous dividends over time (e.g. did you know that decreasing churn by just 2.5% could TRIPLE the company in just 3 years?).
So in case you missed it, please check out Harvard Business Review: Finally, Evidence That Managing for the Long Term Pays Off and consider forwarding it to your leadership team. Especially if they’d like to stay with the company for more than the ~2-year average tenure they should plan to earn far more with a longer term view.