| Customer Loyalty and lifetime value |
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What is customer loyalty, how can it be measured, why is it important and how can it be increased? A simple definition of loyalty is 'the repeated choice of one provider of goods or service in a competitive market' How to measure and increase loyalty require more sophisticated responses. To learn more request a white paper on customer loyalty. Loyalty is important because it costs much less for customers to buy again and again rather than continually attract new customers... Churn is huge drain on resource & profit Customers demand more personal approach Increased customer choice in competitive markets Loyalty is key to ‘value escalator’ Customer Hunter / Customer Keeper
Provide scheduled and online recommendations for service plans. Communicate regularly with customers to keep them on the best plan. Up-sell the most suitable products based on segment and historic usage. Product ModellerCreate focused offerings based on knowledge of customer behaviour and needs. Speed up product launch. Understand revenue impact and competitive position. De-risk new product propositions. Get business information from raw transactional and usage data. Understand customers and flexibly provide the evidence to form new product propositions. Segment customers, predict churn, build a model of lifestyle and behaviour. Users define their own dimensions & rules to shape the most useful data for analysis. Billing DoctorMonitor billing to ensure it is accurate and transparent. Prevent disputes, cashflow problems and chum. Where disputes arise, they can be handled quickly and fairly through bill validation, rebate calculation and case management. |
