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Driving Business Performance: Customer First
A Framework for Loyalty and Its Measurement and Creating Loyalty Programs that Drive Business Performance

A new whitepaper has outlined the framework for the development of loyalty and retention programs and the measurement of these two critical customer-focused areas. This 30 page whitepaper is available to NMOA readers at no charge, in PDF form, by clicking here:
Driving Business Performance: Customer First 

In summary, we offer a short review of the key themes addressed in this paper:

The mandate must come from the top. Without support from executive management, success is questionable at best.

Recognize that all customers cannot be treated equally. Customer segmentation is required to understand which customers should get a disproportionate share of the resources devoted to loyalty and retention programs.

Loyalty and retention programs should be viewed as investments with an expected return. The development of a framework to provide this information is essential.

Loyalty is best measured using a "share of account" metric.

Statistical analysis is necessary to understand the "drivers" of loyalty.

Actions should be prioritized based on value to the company and must balance the importance of a loyalty driver with the cost of program delivery.

Programs must enable action at the customer level. Loyalty is a one-to-one proposition.

Employees are an integral part of the picture.

Training will be required to make it all happen.

The rewards of focusing on these principles are clear delivery on commitments to shareholders, market leadership, and a closer, stronger and more profitable relationship with your customers.

This 30 page whitepaper is available to NMOA readers at no charge, in PDF form, by clicking here:
Driving Business Performance: Customer First

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