Customer Satisfaction and Loyalty

  • Duration: 2 days
Categories:

This course fits comfortably between two categories: customer service and marketing. Have you ever wondered what makes some organizations shine in the hearts and minds of customers, achieve the highest levels of customer delight and at the same time generate record profits? In this course, we blend customer service and marketing to give practical insight into the workings of such successful organizations. We cover concepts such as customer satisfaction and loyalty, customer segmentation, profitability, customer satisfaction surveys, the customer value proposition, and loyalty schemes, to help you create a roadmap that will take your organization to new heights.

Course Methodology

This course relies on presentations by the consultant followed by written or oral questions as well as case studies and analysis of real industry examples, application exercises to practice the concepts acquired and the development by participants of survey questionnaires in addition to other group presentations and exercises.

Course Objectives

By the end of the course, participants will be able to:

  • Explain customer satisfaction, retention, and loyalty and measure them in a meaningful and systematic way
  • Defend the use of a profitability dimension to any customer loyalty strategy
  • Arrange, plan and manage impactful customer satisfaction surveys
  • Define customer segments, profiles, and models for maximum strategic as well as the tactical impact
  • Create ‘customer value propositions’ that work
  • Develop effective loyalty schemes: know what to avoid and how to improve them

Target Audience

All marketing staff at any level in the organization, Customer Relationship Management (CRM) departments, market research, loyalty scheme managers and supervisors, product managers, business unit managers, sales managers and supervisors, customer care managers and supervisors, analysts and any interested decision-maker, department head or supervisor.

Target Competencies

  • Customer orientation
  • Balanced decision making
  • Results orientation
  • Understanding the prospect’s motivation
  • Integrative ability
  • Problem and situation analysis

Course Outline

  • Key definitions
    • Customer satisfaction, retention, loyalty, and delight
    • Levels of loyalty
    • Customer satisfaction and loyalty
    • Customer delight
  • Key loyalty measurements
    • Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR)
    • Profit impact of CRR
    • Customer life expectancy
    • Customer loyalty index
  • Loyalty and profits
    • The cost of loyalty
    • Generally Accepted Accounting Principles (GAAP) shortfall
    • Activity-Based Costing (ABC)
    • Customer profitability and the whale curve
    • Customer profitability at best practice companies
    • The strategy quadrants
  • Customer satisfaction surveys
    • Surveys and questionnaires
      • The objective of the survey
      • Population of interest
      • Writing the questions
      • Sampling methods
      • Administration and analysis
    • Customer surveys guidelines
    • Different survey metrics
    • Types of satisfaction surveys: transactional versus image-based satisfaction surveys
    • Who and what to measure
    • How to ask
    • Loyalty components
    • The importance of demographics
  • Segmenting your customers
    • Attitudinal and behavioral dimensions
    • Demographic variables, consumer and business
    • Customer profiling
    • Customer modeling
    • Types of business customers (B2B)
  • Key to loyalty: a ‘customer value proposition’ that works
    • The value proposition: definitions
    • Why a value proposition
    • Building the value proposition
    • Articulating the value proposition
    • The strong value proposition: conclusion
  • Customer loyalty and loyalty schemes
    • How to foster loyalty
    • The 6 Ps of customer loyalty
    • The two-tier approach
    • The laws of customer loyalty
    • Loyalty schemes: background and justification
    • Loyalty schemes: what to avoid
    • Types of loyalty programs
    • Reasons to join
    • Different loyalty schemes
    • Rewards and perceived value
    • Maximizing the results

Price

$150.00
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