There are many ways to do this: very in-depth methods and other approaches to simply create a number that is useful. When companies perform such calculations, they tend to achieve stronger business results and broader implementation of their CEM. Citrix is a great example of how they mapped customer contract values onto ratings of likelihood to recommend the brand. By setting listening posts from brand awareness to brand advocacy, they were able to gain valuable insights into the feature that could increase positive word of mouth and consequently specific revenue lost or gained. After product trials and contract periods, they asked, “What could we have done differently to get you to purchase?” A customer insights team created a business case model that uses this data to help managers prioritize product changes based on their impact on customer retention, as well as new customer acquisition. Since it is a quantified approach that helps all internal stakeholders make decisions, it has been adopted as a methodology to be used regularly.
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