VEChannel Event Profile

The One Number You Need: Does One Size Fit All?

Is customer loyalty an attitude, a behavior, or both? Can customer loyalty be measured? If so, what is the best approach? If customer survey ratings are to be used for the purpose of measuring loyalty, which ratings furnish the best information satisfaction, likelihood to repurchase, likelihood to recommend, customerperceived value, or some other measure? The preceding questions are not new marketing managers and researchers have wrestled with them for decades but has the mystery been solved? Loyalty expert Fred Reichheld has argued that a Net Promoter Score derived from a simple survey question regarding whether customers would recommend a brand to a friend or colleague provides a superior measure of customer loyalty in most industries. He goes on to show that the Net Promoter Score is a very good predictor of customer behavior and company growth in a variety of markets and industries. While Mr. Reichheld makes a strong case for the Net Promoter Score in his latest book, The Ultimate Question, he also takes care to point out that "while the would recommend question is far and away the best predictor of customer behavior across a range of industries, its not the best for every industry." He goes on to admonish companies to do their homework," and "to validate the link between survey answers and behavior for their own business and their own customers." The need for companies to do their homework cannot be overemphasized. So what does this homework entail? In this session, Randall Brandt will illustrate how to go about developing a measure of customer loyalty that provides a solid predictor of business growth and results. Specifically, he will: Discuss the process required to develop and validate a customer loyalty index Describe and illustrate how the "best" loyalty metric may vary by market and industry Share lessons learned and recommendations regarding customer loyalty measurement All you need to attend is : A 56Kbps Internet connection or better For the audio, you will need Computer speakers and Sound Cards and a high speed internet connection is also recommended. Netscape 4.x or Internet Explorer 4.x (AOL users: AOL 5.0 and above only) Linux Users Please Note: To use the current Java client you will need to update to the latest version of Mozilla 1.7.3. Firefox/Mozilla. Using FireFox. Click Here To Set Up The WebEx Event Manager installed before the event Click Here To Set Up . NOTE: This plugin will not install if your browser has high security settings or you do not have administrative rights on your PC.

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