Download - Customer Loyalty Measurement Program

Transform Customer Feedback Into

Customer Loyalty!

Lori Blandford

Marketing Manager

Ken Krawczyk

Sr. Manager, Predictive Analytics

Agenda

Dunn Solutions Group Overview

Predictive Analytics Overview

Customer Loyalty Overview

Measuring Customer Loyalty

The Customer Loyalty Measurement Program

Q&A

Full-service IT Consulting Firm

Founded in 1988

Offices

Chicago

Minneapolis

Raleigh

Fort Lauderdale

Bangalore, India

https://www.dunnsolutions.com/content/en/company

Overview

Raleigh

Ft. Lauderdale

Minneapolis

Bangalore

Chicago

https://www.dunnsolutions.com/content/en/company

Practice Areas

Application Development

Custom App Dev

Portals

Web Design

E-Commerce

End-to-End BI

Dashboards

Data Warehouse

DI + EIM/Quality

Business Intelligence Packaged Solutions

Vertical Solutions

Unique Solutions

Predictive Analytics

Managed Services

Map Intelligence

Budgeting & Planning

Training

On-Site + Custom

Open-Enrollment

Jumpstart/Mentoring

https://www.dunnsolutions.com/content/en/solutions

https://www.dunnsolutions.com/content/en/solutions

Selected Clients

City of Chicago

https://www.dunnsolutions.com/content/en/experience

https://www.dunnsolutions.com/content/en/experience

http://www.allstate.com/

http://www.allstate.com/

http://abbott.com/index.html

http://abbott.com/index.html

End-to-End Business Intelligence solutions

Data Warehousing

Dashboards & Performance Management

Enterprise Information Management + Data Quality

Business Intelligence Managed Services


Business Intelligence Services

Agenda






Q&A

Business Intelligence Value and Complexity

Source: The Data Warehouse Institute (TDWI)

LOW

HIGH

HIGHBUSINESS VALUE

CO

MP

LE

XIT

Y

REPORTINGWhat happened?

ANALYSISWhy did it happen?

MONITORINGWhat’s happening now?

PREDICTIONWhat might happen?

Predictive analytics

Dashboards, scorecards

OLAP and visualization tools

Query, reporting and search tools

BUSINESS INTELLIGENCE TECHNOLOGIES

Predictive Analytics is the

GPS of a BI system-

it provides guidance on

strategy and tactics using

advanced analytics


Added Operational & Strategic Value Fact-Based Solutions

Identify Future Opportunities

Gain Competitive Edge

Greatest Business Value

https://www.dunnsolutions.com/content/business_analytics

Dunn Solutions Group Predictive Analytics Services

Complete Predictive Analytics Services

Data integration

Data cleansing

Model development

Deployment

Dashboards

Reporting

Support

Training

Software

https://www.dunnsolutions.com/content/predictive-analytics

Predictive Analytics Solutions

Marketing Strategy and Planning

Customer Loyalty

Resource Planning

Demand Forecasting

Market Basket Analysis

Customer Churn

Credit Scoring

Fraud Detection

Crime Insight & Prevention

Challenges with Measuring Customer Loyalty

Assumption that customers are satisfied

Belief that satisfied customers are also loyal customers

Loyalty is often measured by only analyzing transactions

Belief that loyalty is created by discounting

Loyalty programs are expensive and time consuming

Capability to analyze customer behaviors and identify

loyalty driver does not exist in the company

What is Customer Loyalty?

Satisfaction

Intention

Retention

Loyalty

Benefits of Loyal Customers

Unsolicited Referrals

Reduced Acquisition Cost

Increased Retention

Customers Are Less Price Sensitive

Higher Profit

Training & Empowerment Of Employees

Employee Satisfaction

Higher Level Of Quality

Agenda






Q&A

Loyalty Analytics Program

Survey Design

Collect VOC

ReportingAnalytics

Action

What is a Method of Collecting VOC?

Implement a customer feedback program

All questions have rating: 0 = not at all likely, 10 = extremely likely, except satisfaction question is 0 =

extremely dissatisfied to 10 extremely satisfied

1. Overall satisfaction

2. Decision to recommend (Word of mouth, Word of mouse)

3. Decision to purchase again for the first time

4. Decision to continue purchasing same products/services

5. Decision to purchase different products/services

6. Decision to increase purchase amount

7. Decision to increase frequency of purchasing

8. Decision to switch to another provider


Survey Design

Collect VOC

ReportingAnalytics

Action

How Do We Analyze the VOC to Infer Loyalty Levels?

Factor Analysis

Satisfied

Recommend

Choose again

Purchase Same

Purchase different

Purchase amount

Purchase frequency

Switch Provider


Survey Design

Collect VOC

ReportingAnalytics

Action

Incorporate Loyalty Drivers into Sales, Marketing &

Operations Strategies

Products & Services

Availability

Variety

Functionality

Engagement

Professionalism

Friendliness

Handle Issues

Operations

Return Policy

Appearance

Business Hours

What Loyalty Dimensions Are Deduced By VOC?

• Feelings created from human interactionsAffective

• Preferences from examining product/service quality

Cognitive

• Expectations are met and the decision is to continueRetention

What Does Loyalty Correlate With?

Affective Cognitive Retention

0.75

0.60.53

0.66

0.76

0.5

0.72

0.6

0.84

Correlation between Loyalty and Goals

New Cust Growth YOY Revenue Churn%

Agenda






Q&A

How Do We Get There?

Self-Enablement Option

Purchase the right software to enable the process: data

acquisition, data cleansing, predictive analytics, reporting

Do a pilot project

Work with Dunn Solutions to mentor internal personnel

Outsource Option

Partner with Dunn Solutions to run your loyalty program

DSG Customer Loyalty Measurement Program

VOC

Product Quality

Services Quality

Automated survey tools

Hosted database

Web-based reporting

Analytical models

DSG Customer Loyalty Measurement Program Results

Higher Customer Advocacy

Increase in New Customers

Higher Customer Retention Rates

Higher Profits

Higher Employee Satisfaction

Agenda






Q&A

Questions & Answers

Questions?

Ken Krawczyk

Sr. Manager, Predictive Analytics

Dunn Solutions Group

[email protected]

[email protected]

mailto:[email protected]

Download - Customer Loyalty Measurement Program

Top Related