Marketing Research Happenings

Customer Lifecycle, LLC : Customer Loyalty and Shareholder Value by Karin A Ferenz In recent years, the concept of customer loyalty has come to the forefront as an important tool for companies in their efforts to create shareholder value. Companies are striving to identify those business elements (e.g. product innovation, speed of delivery, customer service, etc.) that will have the greatest appeal to customers, and therefore result in the greatest increase in customer loyalty. This analysis has become an invaluable first step as companies seek new sources of competitive advantage.
Customer Lifecycle, LLC : Get Better Business Results from the 4 Stages of Your Customer Lifecycle -- Acquisition by Karin A Ferenz It’s a given that having good customers is a critical requirement for business success in any market. And companies spend millions of dollars on business development to get customers, convinced that more is better. But more is not necessarily better, because not all customers are the same in terms of their contribution to revenue and profitability. As the cost of acquiring new customers increases, acquisition efforts need to focus on those customers with the highest potential to become profitable. Most companies constantly look for ways to expand their pool of pro?table customers, with the ultimate goal of optimizing each customer’s lifetime value.
Customer Lifecycle, LLC : Get Better Business Results from the 4 Stages of Your Customer Lifecycle -- Service by Karin A Ferenz Each stage in the customer lifecycle—acquisition, service, growth, retention—has its own unique customer needs, attitudes and behaviors. This creates the opportunity to identify and measure competitive performance requirements and metrics for both a particular stage and its relationship to the entire lifecycle. In the first paper in this series, we examined factors driving acquisition of a profitable customer base. However, acquiring the right customers is just the first step in building and maintaining lasting customer retention, customer loyalty, and improved business results. How well you meet customer needs with service that meets or exceeds their expectations determines whether the targeted customers you have secured will remain satisfied and loyal or will leave due to dissatisfaction with what you are providing. This paper on Service is the second in a series of four papers that will discuss how to get the best business results from each stage of the customer lifecycle.
Customer Lifecycle, LLC : Get Better Business Results from the 4 Stages of Your Customer Lifecycle -- Growth by Karin A Ferenz The first paper in this Acquire, Serve, Grow, and Retain series, examines factors driving customer acquisition and outlines a systematic process to attract and build a profitable customer base. With that information an organization can develop a targeted customer acquisition and retention strategy and up-selling programs as well as leverage the desired communications channels in order to improve lifetime value. Serve, our second paper, discusses approaches to identify how well you satisfy customer needs with service that meets or exceeds their expectations. We also discuss whether the targeted customers you have secured will remain satisfied and loyal or whether they will leave due to dissatisfaction with the products or services you are providing. Grow is the third in a series of four papers that will discuss how to get the best business results from each stage of the customer lifecycle.
Customer Lifecycle, LLC : Get Better Business Results from the 4 Stages of Your Customer Lifecycle -- Retention by Karin A Ferenz Acquire, the first paper in this Acquire, Serve, Grow, and Retain series, examines factors driving customer acquisition and outlines a systematic process to attract and build a profitable customer base. With that information an organization can develop a targeted customer acquisition and retention strategy and up-selling programs as well as leverage the desired communications channels in order to improve lifetime value. Serve, our second paper, discusses approaches to identify how well you meet customer needs with service that meets or exceeds customer expectations and whether the targeted customers you have secured will remain satisfied and loyal or will leave due to dissatisfaction with what you are providing. Grow is the third paper in the series. It discusses tools and techniques that can be used to create a practical process that focuses on improving the financial results from all customer groups. Retain, the final paper in the series, discusses how to retain the profitable customers your organization has created by following the steps outlined in the three preceding papers. We suggest that the best way to accomplish that is through a dual perspective—aligning the perceptions of employees with the requirements of customers.