Introduction
This training program is suitable for all business entering a new era from small to medium; medium to big size; horizontal and vertical business growth
How you will benefit
- Improve 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 customer satisfaction surveys.
- Define customer segments, profiles and models for maximum strategic as well as tactical impact.
- Create “Customer Value Propositions” that work.
- Develop loyalty schemes: know 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 or supervisor.
What you will cover
Module 1: Key Definitions
- Customer Satisfaction, Retention, Loyalty and Delight
- Levels of Loyalty
- Customer Satisfaction and Loyalty
- Customer Delight
Module 2: Key Loyalty Measurements
- Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR)
- Profit Impact of CRR
- Customer Life Expectancy
- Customer Loyalty Index
Module 3: Loyalty and Profits
- The Cost of Loyalty
- Generally Accepted Accounting Principles (GAAP) Shortfall
- Activity Based Costing (ABC)
- Customer Profitability and the Whale Curve
- Customer Profitability at Best Practice Companies
- The Strategy Quadrant
Module 4: Survey Design
- Objective of the Survey
- Population of Interest
- Writing the Questions
- Sampling Methods
- Administration and Analysis
Module 5: Customer Satisfaction Surveys
- Customer Surveys Guidelines
- Different Survey Metrics
- Types of Satisfaction Surveys: Transactional versus Image-Based Satisfaction Surveys
- Who and What to Measure
- How to Ask
- Loyalty Components
- The Importance of Demographics
Module 6: Segmenting Your Customers
- Attitudinal and Behavioral Dimensions
- Demographic Variables, Consumer and Business
- Customer Profiling
- Customer Modeling
- Types of Business Customers (B2B)
Module 7: Key to Loyalty : A “Customer Value Proposition” that Works
- The Value Proposition: Definitions
- Why a Value Proposition
- Building the Value Proposition
- Articulating the Value Proposition
- The Strong Value Proposition: Conclusion
Module 8: Building Customer Loyalty
- Loyalty Re-Visited: What Is Loyalty
- How to Foster Loyalty
- The 6Ps of Customer Loyalty
- The Two Tier Approach
- The Laws of Customer Loyalty
Module 9: Loyalty Schemes
- Loyalty Schemes: Background and Justification
- Loyalty Schemes: What to Avoid
- Types of Loyalty Programs
- Reasons to Join
- Different Loyalty Schemes
- Rewards and Perceived Value
- Customer Data
- Maximizing the Results