Archive for Publications
How Good Is Our Score? By D. Randall Brandt, PhD
Where and how high should managers “set the bar” for measures of customer experience and loyalty? If these measures are derived from survey data, what can or should be considered a “good score?” Managers ask these and related questions frequently, and for good reason: Decisions regarding allocation of resources, reward and recognition, and channel partner certification frequently are on the line. If an organization is basing such decisions on whether targets for key customer metrics have been met, then the rationale for such targets had better be solid and defensible.
This article examines some of the most common approaches to setting targets for measures of customer experience and loyalty, including the strengths and limitations of each. Subsequently, the article describes an approach to target-setting that is based on how customer metrics are linked to financial and other desired business results metrics. The advantages of this “linkage-based” approach over the more common methods are highlighted.
Wanna Buy a Checking Account?
A recent study from Thunderhead Communications shows that loyalty to financial services companies hovers in the 16% - 17% range. Further, more than six in ten financial services customers say they are actively looking to switch banks or insurance companies in the next year or so.
Yikes. With numbers like that, and with the […]
Repeat Business is Online Retail’s Core Customer Metric
In a study released recently by MarketLive, research confirms the importance of repeat business to online retailers. Many online (and off line) retailers focus strictly on acquiring new customers, often in the mistaken belief that volume is the name of the game.
This work indicates that it’s the size of the online basket that makes all […]
