As a starting point for a customer retention and loyalty strategy, we usually conduct a performance review of your existing customer base. To obtain an in-depth understanding of the current customer base from a business performance perspective, we will conduct a statistical customer behavior analysis. This includes customer profile-related aspects such as the creation of a customer context profile, a customer/product portfolio ratio, channel (communication) preferences, FRM analysis, churn/loyalty, and CLV.
Simultaneously, we create new insights into the actual retention -and loyalty levels of the existing customer base, and the related revenue/cost consequences.
As a second step, we develop a customer satisfaction measurement strategy and drive an implementation plan throughout the customer experience journeys.
Although the Net Promoter Score is a good starting point to understand potential loyalty and brand advocacy, the drivers of long-term loyalty are important to identify in order to give focus to the most relevant loyalty metrics while economizing those that are more peripheral.
Not all customer relationships are prone to loyalty. Before designing a loyalty strategy, it is of paramount importance to understand and determine the lifespan and to calculate the lifetime value of the served -and potential customer segments. Only once we have determined the customer equity, we understand the ROI of a future investment in a customer retention and loyalty strategy.
Our philosophy is that 'the best loyalty is natural loyalty'. Paid loyalty should be a second option - and only be put into practice once you are convinced that the long-term ROI is positive.
To reach this level of understanding, we first create in-depth insight into the customer's decision-making journey in relation to the competitive environment, and before deciding on any loyalty concept or strategy.
Together with our partners, we help clients to build integral, cross-functional, and cost-effective loyalty programs. To accomplish this, we first create an in-depth understanding of loyalty and traction in relation to new and existing customers.
We also help clients set up partner programs enabling them to monetize loyalty programs.
Lastly, we help clients to reposition their existing programs to maximize future returns.