Published on March 10, 2014
CREATING A CUSTOMER MEASUREMENT AND MANAGEMENT SYSTEM 1
PURSUING SUCCESS THROUGH CUSTOMER MEASUREMENT AND MANAGEMENT GATHER CUSTOMER INFORMATION BUILD ORGANIZATIONAL VALUE USE INFORMATION TO MAINTAIN, IMPROVE, OR INNOVATE IN PRODUCTS AND PROCESSES SPREAD THAT INFORMATION THROUGHOUT THE ORGANIZATION 2
LENS OF CUSTOMER V/S LENS OF ORGANIZATION Value for Money People Lens of Organization Products Operations Lens of Customer Convenience Ambience 3
LINKING QUALITY TO FINANCIAL PERFORMANCE INTERNAL QUALITY EXTERNAL QUALITY AND SATISFACTION CUSTOMER LOYALTY AND RETENTION FINANCIAL PERFORMANCE Production Processes Benefits offered by products and services as against cost Customer’s intention to buy Cost Saving Maintenance Processes Conclusions drawn by the customer about the company Customer’s intention to repeat purchase Revenue Growth 4
VOLVO AND SEARS WENT THROUGH TREMENDOUS CHANGES WITH RESPECT TO THEIR CUSTOMER ORIENTATION WHICH FINALLY LED TO IMMENSE CHANGES IN THE COMPANY’S PROFITABILITY AND SALES 5
VOLVO’S MODEL OF FACTORS AFFECTING FINANCIAL PERFORMANCE Improved Internal Quality Improved External Quality Improved Productivity Customer Satisfaction Cost Reductions Customer Loyalty Improved Profitability 6
THE EMPLOYEE-CUSTOMER-PROFIT CHAIN AT SEARS Customer Recommendations Service (Helpfulness) Attitude About Job Customer Impression Employee Behavior Attitude About Company Return on Assets, Margins, Revenue Growth Merchandise (Value) Employee Retention Customer Retention 7
STRATEGIC SATISFACTION MATRIX HIGH IMPACT AND STRONG PERFORMANCE Maintain or improve performance Competitive advantage LOW IMAPCT AND WEAK PERFORMANCE Inconsequential – Do not waste resources HIGH IMPACT AND WEAK PERFORMANCE Focus improvements here – Competitive vulnerability 8
CREATING A CUSTOMER MEASUREMENT AND MANAGEMENT SYSTEM Identifying the Purpose (Strategy Planning) From Information to Decisions (Priority Setting) From Data to Information (Data Analysis) A Customer Measurement and Management System Building the “Lens“ of the Customer (Qualitative Research) Building the QualitySatisfaction Loyalty Survey 9
EXTERNAL SPECIALISTS V/S INTERNAL SPECIALISTS EXTERNAL SPECIALIST Offers specific skills related to collecting and analyzing customer data Apt to be a necessity early on in the process. INTERNAL SPECIALIST Enables direct contact with the customer – critical to customer information Takes ownership of the system 10
TRANSFORMATION OVER TIME Role of External Specialist Role of Internal Specialist 11
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