Customer Loyalty: Strategies and Measurement

Customer Loyalty: Strategies and Measurement

OBJECTIVES:

By the end of the program, participants will be able to:

• Understand customer satisfaction, retention, loyalty and measure them in a meaningful and systematic way.
• Include a profitability dimension to any customer loyalty strategy.
• Plan, manage and analyze impact-full customer satisfaction surveys.
• Define customer segments, profiles and models for maximum strategic as well as tactical impact.
• Create “Customer Value Propositions” that work.
• Understand loyalty schemes: what to avoid and how to improve them.

WHO SHOULD ATTEND?

All marketing staff at any level in the organization, CRM and data mining departments, market research, loyalty scheme managers and supervisors, product managers, business unit managers, sales managers and supervisors, customer care managers and supervisors, analysts and any interested decision maker, department head and supervisor

COURSE OUTLINE

Key Definitions

• Customer Satisfaction, Retention, Loyalty and Delight
• Levels of Loyalty

Measurements

• Customer Satisfaction Index
• Customer Retention Rate
• Profit Impact of CRR
• Customer Life Expectancy
• Customer Loyalty Index

Loyalty and Profits

• General Accepted Accounting Principles (GAAP) Shortfall
• Activity Based Costing (ABC)
• Customer Profitability and the Whale Curve
• Customer Profitability at Best Practice Companies
• The Strategy Quadrant

Survey Design

• Objective of the Survey
• Population of Interest
• Writing the Questions
• Sampling Methods
• Administration
• Analysis and Reporting

Customer Satisfaction Surveys

• Guidelines, Methods, Metrics
• Transactional Satisfaction
• Image-Based Satisfaction
• Who and What to Measure
• What and How to Ask

Segmenting your Customers

• Attitudinal and Behavioral Dimensions
• Business to Business (B2B)
• Types of Business Customers
• Business to Consumer (B2C)
• Customer Profile and Modeling

Key to Loyalty: A “Customer 

• Value Proposition” that Works
• A Powerful Value Proposition
• The Voice of the Customer
• Core Competencies and Core Values

Building Customer Loyalty

• The 6 P’s of Customer Loyalty
• The Two Tier Approach
• Tips, Ingredients and Laws of Customer Loyalty

Loyalty Schemes

• Background and Expectations
• Possible Pitfalls
• Build a Successful Scheme
• Cause Marketing and Customer Buy-in