There’s always a lot of argument about the way companies value their customer relationships as a percent of the value of the company. The value of customer relationships falls into the category of an intangible asset when looking at the balance sheet of a Corporation.
Bill Bleuel
CLV versus EVC
The concept of CLV or customer lifetime value has been used for many years to describe the value of a particular customer or customer segment to a company.
The State of Customer Loyalty in Small Business
A joint study of approximately 900 small business owners presents an interesting insight into what small businesses are doing in the world of customer loyalty.
The Loyalty Impact of Kiosks
Kiosks are one form of self-service technologies that are being introduced into the marketplace. We’re seeing that self-service technologies can change the way customers act.
A Measure of Customer Experience
The bottom line is obvious because the numbers tell the story. Customers that rated their experience high were much more profitable and loyal.
Share of Wallet May Be the Best Loyalty Yardstick
Tim Keiningham, global chief strategy officer for Ipsos Loyalty has developed an interesting statistics regarding loyalty. Many companies rely on the NPS measurement to define their customer loyalty.
What is Better Than a “WOW” Experience?
Many companies are looking for ways to delight the customer or provide the customer with a “WOW” experience. There are many marketing research organizations that provide all sorts of metrics to demonstrate how the customer experience is improving.
Loyalty May Not Be Rational
Customer loyalty is not always based on rational thinking. Customers often make decisions based on feelings and emotions. The old adage that the first impression counts has been verified by the psychological research.
Connected Customers May Not Be Connected
In today’s business climate the connected customers are seen as people who are highly educated and technologically social and mobile. A study was commissioned by Kitewheel and was conducted by the independent research firm Strategic Marketing Research, Inc. in 2014 to study ongoing efforts by companies to reach their connected customers individually.
Neuroscience Can Be Used to Improve Customer Loyalty
There has been some interesting work done by Dr. Daniel Kahneman, a professor at Princeton University in the area of behavioral economics. One of the phenomena that he has written about, and which has been given much attention is the peak–end rule. This rule provides some excellent guidance for building customer loyalty.
