Statistics on Customer Effort Score (CES) strongly suggest it has the ability to detect loyalty at the operational level.
Trust appears to be gaining in importance as a way of building customer relationships that transcend the multi-channel media.
Statistics continue to demonstrate that companies that pay attention to customer satisfaction increase their sales more than other companies.
Because real options are a relatively recent development in the area of project valuation, there is a general lack of familiarity with the topic among many practitioners. This lack of familiarity has sometimes resulted in misconceptions about the purpose, theoretical basis, and scope of application of real option valuation. I address a few of the … Continued
For over 40 years I have taught applied modeling—at eight different universities, engineering and business schools, graduate and undergraduate levels. I have taught using paper and pencil for quick-and-dirty models, calculators, mainframe computers, and now PCs with spreadsheets. Generally, I have four goals for each class, and the fourth is: Be able to actually identify … Continued
The Graziadio Business Report will be exhibiting at the Association to Advance Collegiate Schools of Business (AACSB) Conference on Learning and Research next week (June 29 to July 1) in St. Pete Beach, Florida. Will you be there? If so, we’d love to meet you! If you have a compelling research project and are interested … Continued
This is the third of a series of four blogs devoted to the topic of customer retention. Read Part 1 and Part 2. Every customer that you keep represents at least three that you don’t have to attract. Numerous research studies indicate that the cost of acquiring a new customer usually runs from two to … Continued
This is the second of a series of four blogs devoted to the topic of customer retention. To read Part 1, click here. Employees get excited when management demonstrates a serious commitment to listening to customers and staff’s suggestions for serving them. Building customer loyalty is everyone’s responsibility and everyone’s input is critical. Sharing information … Continued
This is the first of a four-piece series devoted to the topic of customer retention. Here, I will talk about retention, what it is, and why it drives successful business operations. The three subsequent blogs will present a conceptual framework for issues, rationale, cost models, and examples for use in developing and maintaining a loyal … Continued
This is the last of a series of four blogs devoted to the topic of customer retention. Read Part 1, Part 2 and Part 3. The key to competing for retention is to quantify and understand the connections between loyalty and profits. How to use measurements as tools to ensure integrity, accountability and decision-making relative … Continued