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Special Report on

Customer share, not lifetime value

customer share not lifetime value special research report Photo by www.camposlanuza.com
In 2010, customer service makes a big comeback. It becomes the new marketing. Forget about paying lip service to offering “great customer service”. Let go all of those “the customer is always right” myths. It’s time to offer outstanding customer service only because it makes economic sense for your small business. It is the only truly sustainable competitive advantage. What to watch in 2010: We Try Harder : With the economy still struggling to recover and unemployment at record highs, all “customer facing employees” actually will try harder this year to attract, satisfy and keep their ...
In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for candidate transactions. Predictive analytics is used in actuarial science , financial services , insurance , telecommunications , retail , travel , healthcare , pharmaceuticals and other fields. One of the most well-known applications is credit scoring , which is used throughout financial services . Scoring models process a customer’s credit ...
REVIEWS AND OPINIONS
29 Ideas to Increase Sales and Profit | Insurance Lead Generation ...
Growing your business doesn’t have to be difficult or expensive. These simple, cost-effective ideas are designed to help you increase your sales and profit, without draining your budget. 1. FOCUS ON HELPING, INSTEAD OF SELLING You shouldn’t be trying to force people into purchasing your product or service. You should find people who want your product or service and then focus on offering any helpful information to them so that they can make an informed decision. 2. TARGET If you’re trying to target everybody, then chances are, you’re not targeting anybody. For example, if you’re selling something ... market research, surveys and trends
ROI Doesn't Mean 'Return on Ignorance' | The Social Customer
The new world of Social Media is among the most actively analyzed, misunderstood, and at the same time, celebrated mediums affecting businesses today. At the very least, it introduces a renewed sense of vigor that is challenging creativity and convention and also inspiring more human connections in the process. Social Media also introduces new channels and methodologies to drive and measure sales, service, and marketing. As such, discerning business executives seek direction to evaluate the opportunity costs associated with new media as well as establish the ROI of engaging in popular networks such as Facebook, Twitter, and ... market research, surveys and trends

SURVEY RESULTS FOR
CUSTOMER SHARE, NOT LIFETIME VALUE

Building Successful Retail Strategies Using Customer Lifetime Value
What you use to measure your success often defines your vision and your strategy. If your goal is more customers, you can get them, but they may not be profitable. Fleet Bank discovered that half of their existing customers are not profitable to the bank. If your goal is higher sales, you can boost them – but a what cost? Many retailers have the idea that sales and discounts are the road to success. They may actually be the road to ruin. Fredrich Reichheld, author of The Loyalty Effect , said that the "net present value of the customer base should be at the top of the measurement hierarchy." ... industry trends, business articles and survey research
Determining a customer's lifetime value. | Company Activities ...
IN today's real insurance world, it is necessary to determine what a policy owner is worth to a company in the longterm. The percentage of profit made on continued sales to the customer base is consistently higher than the profit made on the original sale. This month we continue the discussion on calculating the LifeTime Value of a policyholder which began in the March issue of Direct Marketing. Figure 5-2 reflects a $10-a-day benefit upgrade to your HIP product offered two months after the business is in force. Note the Market Cost to Total Annualized Renewal Premium (MC/TARP) ratio is $13.50. Figure 5-3 reflects ... industry trends, business articles and survey research
RELATED NEWS
Rosetta Stone Inc. Reports Second Quarter 2010 Results
ARLINGTON, Va., Aug 05, 2010 (BUSINESS WIRE) -- --Sales Bookings of $64.0 million, Increase 9% From Last Year and 5% From the Prior Quarter --International Revenue Increases 155% Over Second Quarter 2009 --Rosetta Stone Version 4 TOTALe Launch Set for September 14, 2010 Rosetta Stone Inc. , a leading provider of technology-based language-learning solutions, today announced financial results for its second quarter of 2010. Total revenue for the second quarter of 2010 was $60.6 million, an increase of 7% compared to the $56.5 million reported in the prior-year period. GAAP net income for the second ... market trends, news research and surveys resources
Day4 Energy Reports Second-Quarter 2010 Results
/PRNewswire-FirstCall/ - Day4 Energy Inc. (TSX: DFE), a solar electric technology developer and supplier of premium solar energy solutions, today reported operating results for the second quarter 2010. "Throughout the second quarter we concentrated on building a number of fundamental components of our business that are required to reach the ultimate goal of sustainable long-term operating profitability," said George Rubin , president of Day4 Energy. "In addition to realizing the strongest sales quarter in our history with revenues of $44.8 million , another really significant event of the quarter was the progress ... market trends, news research and surveys resources

INFORMATION RESOURCES

Modeling Customer Lifetime Value
enue that drives the lifetime value of a customer and not ..... In contrast to sales or share models, CLV is an estimate of customer profitability. ... technology research, surveys study and trend statistics
Delivering Effective Customer Service Final Report
The customer service study revealed that no specific tactic, technology, or mission statement is the key to effective customer service delivery. In fact, what is clear is that effective customer service delivery is organization specific, since services are designed around the targeted customers’ desires and the frontline employees delivering the services. The components of the process for producing effective customer service delivery include appropriately identifying and targeting the ideal customer, establishing a customer-focused vision that is consistent with the prioritized desires of the target customers, ... technology research, surveys study and trend statistics
The Market Share Impact of Service Failures
fact that market share is influenced negatively not only by dissatisfied customers who defect, but also through the impact of their negative word-of- mouth ...
REAL TIME
CUSTOMER SHARE, NOT LIFETIME VALUE
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QUESTIONS AND ANSWERS
How To Calculate the Lifetime Value of A Client
Jeffrey Pfeffer, best-selling author and Stanford University Graduate School of Business Professor, reported in the December 2002 issue of Business 2.0 a major disconnect between technology investments and customer satisfaction. He found that although one research firm reports that 34% of technology managers continue to invest in customer relationship management (CRM) software (to the estimated tune of $38B through 2005), customer service in several industries is deteriorating rapidly. A November 2002 issue of CBI Industrial Trends predicts that at least half of the traditional sales jobs that ...
Customer Lifetime Value | LinkedIn Answers | LinkedIn
To answer your question: Some companies do compare the profitability of particular customer segments vs. the cost of the service provided. These companies however are few and are those that understand the power of customer loyalty and have systematic methods to manage it. Customer service excellence is not necessarily the source of customer loyalty. As it turns out, customer satisfaction is not related to customer loyalty. They seem related from afar. Customer loyalty (required for the customer lifetime value) can be managed at two main levels. 1. at the touchpoint level. All companies have customer touchpoints, if we manage ...