Customer Satisfaction and Loyalty: Strategies and Measurement

This course fits comfortably between two categories: customer service and marketing. Covering concepts such as customer satisfaction and loyalty justify its belonging to the 'customer service' category. However, looking in detail at concepts such as customer segmentation, customer profitability, customer surveys, the customer value proposition and loyalty schemes makes it also extremely valuable for the marketing functions of an organization.

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

• 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 impactful 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.

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.

Key Definitions

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

Key Loyalty Measurements

• Customer Satisfaction Index and Customer Retention Rate (CRR)
• Profit Impact of CRR
• Customer Life Expectancy and 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 and Analysis

Customer Satisfaction Surveys

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

Segmenting your Customers

• Attitudinal and Behavioral Dimensions
• Business to Business (B2B)
• 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 Ps of Customer Loyalty
• The Two Tier Approach
• Tips, Ingredients and Laws of Customer Loyalty

Monitoring Performance

• Background and Expectations
• Building a Successful Scheme
• Cause Marketing and Customer Buy-in

• Presentation & Slides
• Audio Visual Aids
• Interactive Discussion
• Participatory Exercise
• Action Learning
• Class Activities
• Case Studies
• Workshops
• Simulation