Copyright (c) 2009 Synovate. All rights reserved. http://www.synovate.com/ce/insights/tlt/xml/feed.xml Recent issues of The Loyal Treatment en-us Thu, 18 Mar 2010 12:51:01 GMT 5 144 113 http://www.synovate.com/ce/insights/tlt/xml/feed.xml http://www.synovate.com/img/logo.rss.gif http://www.synovate.com/ce/insights/tlt/200907/ In a global marketplace that has grown increasingly competitive, the need for companies to constantly innovate has never been more pressing. Michael Porter of Harvard University declared: "Innovation is the central issue in economic prosperity." Likewise, business strategist Gary Hamel has said, "A company can't outgrow its competitors unless it can out-innovate them...innovation is the fuel for growth." But how important is innovation in an economic downturn? Can companies still afford to innovate? Tue, 18 Aug 2009 10:30:00 GMT http://www.synovate.com/ce/insights/tlt/200907/ http://www.synovate.com/ce/insights/tlt/200906/ Customer churn is a stomach-churning experience for managers. How can we manage this phenomenon? Some insights can be gleaned from a 20-year tradition of research that supports the notion that customer relationships follow a natural lifecycle (Palmatier, Robert W. (2008), Relationship Marketing, Cambridge, Mass.: Marketing Sciences Institute). Knowing the relationship stage a customer is in, and having the right metrics on hand, provides a roadmap to properly manage customer relationships--and reduce that churning feeling. Thu, 02 Jul 2009 11:30:00 GMT http://www.synovate.com/ce/insights/tlt/200906/ http://www.synovate.com/ce/insights/tlt/200905/ We've devoted a lot of space in this column over the years discussing how firms can improve customer loyalty by providing an exceptional customer experience. We've also extolled the benefits of improved customer loyalty in terms of enhanced marketplace and financial outcomes. As customers become more attached to the brand / company, they exhibit a greater willingness to repurchase, increase share of wallet, cross-purchase, give referrals and be a cooperative partner in the relationship. All of these behaviors can have positive economic consequences for the firm. But perhaps the operative word here is "can." Improved loyalty does not guarantee improved sales growth, market share, or profitability. Often overlooked by firms that are focused on building loyalty is the simultaneous need to unlock the loyalty they are creating. The need to unlock loyalty is not just a requirement for firms that enjoy exceptionally high customer satisfaction / loyalty scores on average. Truth is, even companies with lower average scores can have customer segments with passionate loyalists / advocates who are ready to go-to-bat for the firm if given the chance. Mon, 01 Jun 2009 10:30:00 GMT http://www.synovate.com/ce/insights/tlt/200905/ http://www.synovate.com/ce/insights/tlt/200904/ While few would debate the economic rationale of customer loyalty, many companies struggle with moving the needle in an appreciable and sustained manner. This can lead to a serious loss of confidence in a customer-centric strategy among executives. Consider the results of The Conference Board's CEO Challenge 2007 survey, where "customer loyalty / retention" ranked sixth (of 76 challenges)?with 26% mentions. Yet in the first four waves of this annual survey (2000-2003), the topic ranked No. 1?with about 40% mentions. Are CEOs losing interest because it is just too hard to drive measurable change? Mon, 27 April 2009 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200904/ http://www.synovate.com/ce/insights/tlt/200901/ In their pioneering HBR articles and book The Balanced Scorecard: Translating Strategy Into Action (Harvard Business School Press, 1996), Robert Kaplan and David Norton introduced a framework for a strategic measurement and management system. The scorecard "balances" short- and long-term objectives, financial and nonfinancial measures, lagging and leading indicators, and external and internal performance perspectives. The balanced scorecard serves to communicate and align the organization around the business strategy. Companies around the world have adopted some version of the balanced scorecard as a means of organizing their corporate KPIs (key performance indicators). Wed, 14 Jan 2009 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200901/ http://www.synovate.com/ce/insights/tlt/200808/ "The brand is the experience." This increasingly popular mantra is being repeated by both experiential marketing experts and customer experience enthusiasts. It implies that what the customer knows and understands about the brand is heavily (maybe even primarily) influenced by the customer's direct experience with the brand. In fact, we've made this same assertion in previous issues of this column. Fri, 8 Aug 2008 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200808/ http://www.synovate.com/ce/insights/tlt/200806/ Every year, The Conference Board publishes the results of their survey identifying the top concerns of hundreds of CEOs around the world. Once again, the 2007 report puts "stimulating innovation/creativity/enabling entrepreneurship" among CEO's top ten concerns. Even more interesting in the 2007 results is that when asked about challenges to their company's innovation performance, chief executives cite "improving customer relationships" as the second most significant challenge, right behind acquiring and developing the right talent. These results reveal a crucial insight: innovation doesn't create lasting business value unless it improves customer experience and, thereby, the strength of customer relationships. Tue, 24 Jun 2008 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200806/ http://www.synovate.com/ce/insights/tlt/200802/ Every organization engages in some sort of customer experience, relationship and loyalty management. Reams of paper chronicle the importance of actively managing customers. There are conferences galore for those who seek to discuss and learn about the principles of customer management. So, we all do "it" (customer management). We all read about it. And, we all talk about it. Yet, many senior executives and people directly engaged in customer management would admit that despite significant time, energy and investment, customer management programs regularly falter. Tue, 12 Feb 2008 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200802/ http://www.synovate.com/ce/insights/tlt/200712/ Peter Drucker famously said, "The purpose of business is to create and keep a customer." What he did not say was: the purpose of business is to create and keep a market. Drucker offered a profound insight and most 21st century corporations have missed this important distinction. Wed, 19 Dec 2007 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200712/ http://www.synovate.com/ce/insights/tlt/200710/ One definition of leadership might be "to find a parade and get out in front of it." One can question, of course, the viability of that strategy. A preferable definition might be that of John Kotter, the distinguished professor of leadership at Harvard Business School who focused thinking about leadership on dealing with and advancing change. Wed, 10 Oct 2007 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200710/ http://www.synovate.com/ce/insights/tlt/200708/ Any good rancher knows that to find the herd, one must first apply a very hot chunk of iron to the bovine body with a mark that identifies the four legged product as "my cow." Indeed, the etymology of "brand" can be traced to the old English word for burning. Thu, 30 Aug 2007 08:00:00 GMT http://www.synovate.com/ce/insights/tlt/200708/ http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._38_Loyalty_Linkage-Essential_Measure_in_ROMI.pdf For the past few years customer loyalty and retention have been on the list of the top-10 issues CEOs say are of greatest concern to them and their companies. At the same time every marketer knows that marketing metrics and return on marketing investment (ROMI) are hot issues among corporate marketing leaders (and their chief financial officers). Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._38_Loyalty_Linkage-Essential_Measure_in_ROMI.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._37_Innovation_Critical_to_Customer_Experiences.pdf Investors weren't kind to Home Depot through the third quarter of 2006, driving down the stock by 14% at that time. Although sales increased by nearly 17% in the second quarter of 2006 vs. 2005, and operating profit increased by nearly 5%, the company suggested to analysts that the remainder of the year would be challenging. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._37_Innovation_Critical_to_Customer_Experiences.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._36_Endless_Measurement_Debate.pdf It seems that the value of measurement is regularly rediscovered by executives. We know that measurement is good. The ultimate aim of implementing a measurement system is to improve the performance of your organization. And organizations that manage performance through measurement do better than those that don't. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._36_Endless_Measurement_Debate.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._35_Get_Ready_for_Monumental_Change.pdf Will you still need me, will you still feed me, when I'm 64?" Sir Paul McCartney crooned this 39 years ago, as he pondered his future and what is oft called one's golden years. He turned 64 years old this year, and ironically, his career appears to have only accelerated as he's aged. Sir Paul's continued activity?during what many still consider retirement age?isn't a unique phenomenon. In fact, it's said that today's baby boomers define old age as starting at 80 years old. That is three years after the average person is dead! Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._35_Get_Ready_for_Monumental_Change.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._34_Corp_Citizenship-It's_the_Brand.pdf Most executives acknowledge the importance of social and environmental responsibility. According to recent surveys, they see the significance to the bottom line, their companies' reputations, and their customers. But when it comes to translating citizenship into meaningful programs and embedding it in the business, companies range from leaders to laggards?with the majority somewhere in between. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._34_Corp_Citizenship-It's_the_Brand.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._33_Make_It_Memorable.pdf The business case for an organizational focus on customer loyalty continues to strengthen, according to recent statistics from a variety of sources: Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._33_Make_It_Memorable.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._32_Cause-Effect_Loyalty_Perf_Measures.pdf The business requirement to meet the needs and expectations of customers and other stakeholders is the primary impetus behind strategy. Financial results are the ultimate measures of strategic effectiveness, but not the drivers of business success. Consequently, there is a need to link day-to-day, relationship-affecting activities to financial results. Defining what drives a company's overall business success?from the activity and process level to increased customer loyalty and financial/marketplace success?should be one of management's highest priorities. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._32_Cause-Effect_Loyalty_Perf_Measures.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._31_Customer-Centric_Innovation.pdf Drucker made this statement almost 30 years ago. And like most things Drucker, managers nod their heads in agreement with his statements. But most of the managers also struggle to implement such wisdom. A recent survey of senior executives found that increasing top-line revenues through innovation has become an essential key to success. However, the same survey showed that more than half of the executives were dissatisfied with the financial returns on their investments in innovation. Also, of the 30,000 new consumer products launched each year, more than 90% of them fail. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._31_Customer-Centric_Innovation.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._30_Exceptional_Experiences.pdf I own a Honda CRV. In fact, it's my second CRV. My Honda dealer recently called me to let me know that their rates are really good now and that I might be able to lower my monthly payment on my leased vehicle, if I exchanged for a newer model now. How do you think I felt about that proactive telephone call to me? I was thrilled that I might save some money. Plus, I was very impressed that my Honda dealer was looking after my best interests. It increased my trust in him. Now I own my third CRV ... and continue to be a Honda advocate. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._30_Exceptional_Experiences.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._29_CMO_as_Change_Agent.pdf In the 1980s, firms internally focused their efforts to improve processes through total quality management, Six Sigma, business process change, lean manufacturing, and so on. This was a significant paradigm shift, which re-oriented corporate management responsibilities to recognize the importance of processes and quality. At companies such as General Electric (GE) and Motorola, this change came to redefine their cultures. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._29_CMO_as_Change_Agent.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._28_Moving_CL_to_Ctr_of_Bus_Strategy.pdf Customer Loyalty has become a catchall term for many marketing programs where customer data is used. The words "customer loyalty" typically bring to mind the tools and programs that organizations try to use to influence customer purchase behaviors. These tools include loyalty cards and programs, customer relationship management software, and customer satisfaction surveys. With the best intentions, these tools attempt to transform customers from transaction interactions to lifetime relationships. While these tools may be part of a marketing strategy, in many cases they are not part of an organization-wide customer loyalty strategy. This greatly increases the risk of these programs losing momentum (if they are able to get any tread to begin with). Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._28_Moving_CL_to_Ctr_of_Bus_Strategy.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._27_Loyalty_Leadership.pdf Customer orientation is at the very center of modern marketing management and strategy. It is now a widely accepted and proven fact that for an organization to achieve consistently above-normal market performance, it must create loyal customers. Although it doesn't show up on a balance sheet, customer loyalty is the greatest asset any company can have. It is an asset that boosts sales, and with a profitable operations model, results in increased shareholder value. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._27_Loyalty_Leadership.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._26_Customer_Loyalty_ROI.pdf Resources?dollars and people?are the fuel for your journey on the road to your firm's vision. How valuable resources are allocated in an organization sends the message of your commitment to your vision and predetermines your success in achieving your vision. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._26_Customer_Loyalty_ROI.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._25_Growing_thru_CL.pdf With a better U.S. and global economic picture ahead, CEOs are ready to turn their focus to growth: "Sustained and steady top-line growth" ranked as the No.1 issue of greatest concern in The Conference Board's recent Top 10 CEO Challenges survey. And CEOs are looking to their customer base for that growth: No.2 in the U.S. on the list was "customer loyalty retention." Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._25_Growing_thru_CL.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._24_Buzz_about_CEM.pdf The merging of two powerful fields. In the July-August 2002 issue of Marketing Management, we wrote that we were seeing a merging of the fields of customer loyalty management and brand management. These two fields have different origins?customer loyalty measurement and management with its history tracing primarily through product quality, process improvement, customer satisfaction, etc. (more or less the "hard" side); and brand management coming up predominantly through the market-ing and advertising creatives (the "soft" side). However, as we noted in 2002, "The two fields now have great overlap and appear to be converging because they both have the same destination?building long-term, profitable customer relationships." Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._24_Buzz_about_CEM.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._23_Align_Org.pdf Over the past three years, executives in many industries have been focused on contraction in order to survive. Boardroom conversations have resounded with cost control language?outsourcing, downsizing, consolidation, discretionary spending, hiring freeze, and the like. Today, policy makers, blue chip panels, and world leaders are forecasting a strong global economy. The April 2004 World Economic Outlook report from the International Monetary Fund stated, "The outlook for the world economy is among the rosiest we have seen for a decade." Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._23_Align_Org.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._22_What_If-Simulation_Modeling.pdf Since marketing plays a key role in strategic planning and business operations, it is a fundamental determinant of business success. Consequently, over the past few years, the concept of marketing effectiveness has attracted increased attention among academic researchers and business practitioners. In multiple studies, experts have found that marketing effectiveness differentiates superior organizations from their competitors. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._22_What_If-Simulation_Modeling.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._21_3_Ms_of_Loyalty.pdf These days firms are attempting to differentiate themselves based on the simplicity of their measurements. In the area of customer loyalty (CL) measurement, some are now advocating surveys composed of only one or a few questions to assess the strength of customer relationships and provide direction on how they might be improved. Granted, this approach is simple and inexpensive, but is it effective? It's like trying to diagnose the reasons behind a fever simply by taking the patient's temperature. Intuitively, a single measure can't tell the full story on a topic as complex as CL. From the standpoint of having a scorecard, CL is known to manifest itself in numerous ways, all of which have economic consequences for the company (repurchase, recommend, sole source, and so on). We also know from years of measurement progress in the social sciences that multi-item indices tend to outperform single question indicators in terms of reliability and validity. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._21_3_Ms_of_Loyalty.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._20_Making_Brand_Loyalty_Tangible.pdf Intangible assets have become more and more important in today's economy. The evolution/revolution from an industrial to an information age has shifted the weight of strategic asset management from a dominant focus on capital, plant, and equipment to a more balanced eye on a new organizational wealth housed in more intangible assets. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._20_Making_Brand_Loyalty_Tangible.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._19_Loyalty-Based_Segmentation.pdf If you do a web search on "what is innovation?" you'll find a variety of definitions. Here's the one we like: "Innovation is the conversion of knowledge and ideas into a benefit, which may be for commercial use or for the public good." This definition allows us to be innovative about innovation! For example, what constitutes innovation in marketing? Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._19_Loyalty-Based_Segmentation.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._18_Manufacturing_Experiences.pdf Business marketing articles and books today seem to be dominated by a few cult brands whose stories we hear again and again?Apple Computer, Starbucks, Nike, Harley-Davidson, and Volkswagen Beetle. And these brands deserve their reputations. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._18_Manufacturing_Experiences.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._17_Leadership_Behavior.pdf Much has been written over the past 20 years about the notion of "internal marketing." In practice, however, most organizations struggle to see the results of this practice?perhaps because they're unclear about the results they seek. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._17_Leadership_Behavior.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._16_Metrics_Reflect_Strategy.pdf Most organizations focus on profitability and efficiency control when they evaluate and control their market activities. While these are certainly critical performance measures, keeping an eye on the effectiveness of your market strategy should be your overarching objective in defining your metrics. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._16_Metrics_Reflect_Strategy.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._15_Chasing_the_Elusive_Customer.pdf In the movie Minority Report starring Tom Cruise, set in the year 2054, the police department is able to predict murders before they happen. Advertisers using retinal scanners are able to serve up personalized messages to consumers. A Guinness ad, for example, speaks to Tom Cruise's character as he walks by, saying, "Hey, John, you look like you could use a Guinness!" When Cruise's character walks into a Gap store, an automated virtual greeter welcomes him back and asks if he enjoyed the shirts he bought previously. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._15_Chasing_the_Elusive_Customer.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._14_Brand-Customer_Relationships.pdf Brand management is generally believed to have emerged in 1931 when the president of Procter & Gamble decided that "each P&G brand should have its own brand assistants and managers dedicated to the advertising and other marketing activities for the brand." Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._14_Brand-Customer_Relationships.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._13_Not_for_Faint-Hearted.pdf Four years ago, economic growth was happening faster than most organizations could handle. Back then, the right strategy was to throw resources at ideas and hope one of those ideas would turn into the next big moneymaker. But now that the explosive growth phase has slowed to a simmer, many organizations have responded by delaying or canceling new product and service development, focusing instead on short-term measures to improve profitability quickly, such as mass layoffs and tightened R&D budgets. Breakthrough innovations will be rare in this type of environment. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._13_Not_for_Faint-Hearted.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._12_Relationships_Combat_Commoditization.pdf Today's actively engaged customer has helped create a complex environment for customer marketing and management. Companies are strategically shepherding prospects and customers through the customer life cycle of acquisition, retention, and loyalty and are attempting to sell their products directly to the end user. Escalating customer needs, falling entry barriers leading to globalization, and deep-pocketed aggressive competitors have helped create a state of hyper-competition. In addition, accelerated technological change and CRM technology have helped enterprises automate and manage the marketing, sales, and customer service processes in an organized way. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._12_Relationships_Combat_Commoditization.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._11_Measure_the_Right_Things_Right.pdf Much of the value companies are creating for shareholders today can't be found on a balance sheet or income statement. In fact, less and less of a company's stock performance can be explained by financial results. Corporate investments in intangibles such as brand, training, and research and development now equal investments in tangible assets such as property, plant, and equipment. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._11_Measure_the_Right_Things_Right.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._10_Customers_Create_Value.pdf Strategic marketing based on identifying, delivering and communicating segmented value propositions is familiar language in business today. As described over the years, the first step is to "choose the value," which involves analyzing and selecting a clear position in the market by defining the target customers and the benefits that can be profitably delivered to those customers. After making this selection, the firm should install the people, processes, partnerships, technology, and management systems that will enable it to "deliver the value." The final stage is to "communicate the value" to the external market and, just as critical, to the internal organization. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._10_Customers_Create_Value.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._9_Loyalty_&_Brand_Common_Ground.pdf We recently conducted a search of recent books on both customer loyalty and brand management. Here are some of the headline excerpts we found: "Getting the right customers often depends more on the magnetism of the value proposition and the referrals it generates than on brilliant salesmanship." Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._9_Loyalty_&_Brand_Common_Ground.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._8_Metrics_Put_Loyalty_Strategy_to_Work.pdf Building and managing relationships with prospects and customers is a difficult job. It requires a comprehensive strategy encompassing the entire customer life cycle, from attracting the "right" segments of prospects, to delivering on the brand promise, to managing churn. Every stage in the life cycle (i.e., attraction, sales effectiveness, loyalty management, and churn management) requires sound metrics to guide managers in their most critical responsibility?allocating resources in a way that maximizes shareholder value. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._8_Metrics_Put_Loyalty_Strategy_to_Work.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._7_Globalization_of_Relationship_Mktg.pdf Is it possible to have a successful global relationship marketing strategy? We know both anecdotally and scientifically that culture-induced differences affect customer perceptions. In Europe, for example, there is relatively little cultural homogenization despite the success of EU-wide economic policies. How then can we hope to understand and build satisfaction, trust, and relationship commitment on a global basis? Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._7_Globalization_of_Relationship_Mktg.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._6_CR_Requires_Integrated_Strategy.pdf A customer relationship marketing and management (CRMM) strategy aims to achieve growth by building and nurturing high-value relationships with carefully selected groups of customers. Through these relationships, both the company and its customers can enjoy lifelong benefits. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._6_CR_Requires_Integrated_Strategy.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._5_Technology_&_CR.pdf Fast moving information and communication technologies have helped drive the growing popularity of relationship marketing. To keep up and to help build closer customer relationships, companies are investing heavily in CRM technologies. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._5_Technology_&_CR.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._4_High_Performance_Mktg_in_CRM_Era.pdf More companies today are realizing that marketing is a critical factor in determining an organization's success or failure. Equity analysts believe that strong brands, supported by consistent marketing investment, allow companies to perform better. Consequently, they want more detailed information on marketing and advertising expenditures, trade discounts, marketing performance measures, and brand values. More and more organizations are also using brand valuation in mergers, acquisitions planning, and lending decisions. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._4_High_Performance_Mktg_in_CRM_Era.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._3_Democratization_of_Data.pdf Organizations are quickly learning that building effective CRM strategies requires information and understanding about their customers. There is a movement in these organizations today to give employees "fingertip access" to customer information. The premise behind this "democratization of data" is that many employees have a role to play in creating and maintaining customer relationships, and that the provision of detailed customer information will make them more effective. This applies to aggregated information about markets and segments, as well as specific information about individual customers. It includes data relating to customer profiles, transactions, product/service usage, and just about anything in the data warehouse. More recently, it also includes marketing research results. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._3_Democratization_of_Data.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._2_Branding_&_Your_CR_Strategy.pdf Today, brands exert a strong influence on both customer attraction and customer retention. In fact, the main driver of customer loyalty is often brand commitment. Managing the brand as an asset is a critical component of any effective customer relationship management (CRM) strategy. But how and what do we measure and manage? Let's first look at a brief history of branding to understand why it started and how it has evolved. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._2_Branding_&_Your_CR_Strategy.pdf http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._1_Is_Tech_the_CL_Holy_Grail.pdf Total Quality Management, Customer Satisfaction Measurement, Business Process Re-engineering... Customer Relationship Management (CRM). Are business managers just driven by the latest fad? Well, yes and no. Fri, 22 Jun 2007 15:21:00 GMT http://www.synovate.com/ce/insights/tlt/pdf/Loyal_Treatmt_No._1_Is_Tech_the_CL_Holy_Grail.pdf