Customer Satisfaction and Loyalty Strategies

Introduction

This Customer Satisfaction and Loyalty Strategies course is designed to bridge the gap between customer service and marketing. Have you ever wondered why certain companies inspire such strong customer loyalty and delight, all while achieving record profits? In this course, we combine the principles of customer service and marketing to provide practical insights into the strategies of successful organizations.

Throughout this training program, we will cover key topics such as customer satisfaction and loyalty, profitability, customer segmentation, customer satisfaction surveys, value propositions, and loyalty programs. The goal of this course is to equip you with the tools necessary to create a roadmap that propels your organization to new heights.

Objectives

By the end of this Customer Satisfaction and Loyalty Strategies course, participants will be able to:

• Clearly explain customer satisfaction, retention, and loyalty, and systematically measure these factors.
• Advocate for the inclusion of profitability in any customer loyalty strategy.
• Design, organize, and manage effective Customer Satisfaction Surveys (CSS).
• Identify optimal strategic and tactical impacts by selecting and defining customer segmentation, profiling, and modeling.
• Develop value propositions that deliver significant benefits to customer needs.
• Create successful loyalty schemes, avoiding common pitfalls by learning from best practices.

Training Methodology

• Instructor-facilitated presentations
• Real-life case studies analysis
• Interactive workshops and group discussions
• Customer segmentation exercises
• Role-playing exercises, such as dealing with difficult customers
• Customer Satisfaction Questionnaire design and analysis
• Establishing customer value propositions and loyalty programs through focused group discussions
• Peer feedback and collaborative learning sessions
• Immediate assessment with feedback
• Action planning and strategy development sessions

Course Outline

Unit 1: Key Definitions

• Customer satisfaction, retention, loyalty, and delight
• Levels of loyalty
• Customer satisfaction and loyalty
• Customer delight

Unit 2: Key Loyalty Measurements

• Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR)
• Profit impact of CRR
• Customer life expectancy
• Customer loyalty index

Unit 3: Loyalty and Profits

• The cost of loyalty
• Understanding GAAP (Generally Accepted Accounting Principles) shortfall
  • ABC (Activity-Based Costing)
  • The customer profitability whale curve
  • Customer profitability at best practice companies
  • The four strategy quadrants

Unit 4: Customer Satisfaction Surveys

• Designing surveys and questionnaires
• Defining survey objectives
• Identifying the population of interest
• Constructing effective questions
• Sampling procedures and methods
• Survey administration and analysis
• Customer survey guidelines
• Transactional vs. image-based satisfaction surveys
• Measuring loyalty components
• The importance of demographics

Unit 5: Segmenting Your Customers

• Attitudinal and behavioral dimensions
• Consumer and business demographic variables
• Customer profiling
• Customer modeling
• Types of business customers (B2B)

Unit 6: Key to Loyalty: A ‘Customer Value Proposition’ that Works

• Definitions
• The importance of a value proposition
• Building and articulating a strong value proposition

Unit 7: Customer Loyalty and Loyalty Schemes

• Fostering loyalty
• The 6 Ps of customer loyalty
• Two-tier approach
• Laws of customer loyalty
• Justification for loyalty schemes
• Avoiding common pitfalls when implementing loyalty schemes
• Types of loyalty programs
• Reasons to join loyalty programs
• Optimizing outcomes from loyalty programs