Full-Day Presentations
How to Use Customer Equity to Boost Retention and Build Profitable Brands on a Shoestring
Overview
In the mass economy, brand-building often required substantial investments in advertising and public relations. However, the proliferation of media channels and other changes during the last decade mean that such strategies have lost their effectiveness. What's required for success today Is a more strategic approach that Is focused on customer requirements, profitability and long-term growth. Other key requirements include consistent measurement and accountability.
Presented by customer loyalty expert and author Nick Wreden, this seminar will enable business and other executives to understand new branding requirements, which include special emphasis on everyday operational excellence, retention and accountability. The program, complete with hands-on exercises, will concentrate on customer equity as a quantifiable tool to identify, segment and retain profitable customers. Other topics include tactics to enable organizations to "live the brand" and brand more effectively. Attendees will also learn how to improve customer data and customer planning. Key points are illustrated with case studies.
The full-day seminar is divided into two parts:
Morning
Overview:
 Seminar goals: Understanding of actual customer behavior & requirements; the importance of customer equity & accountability; defining & driving change to promote customer equity
Understanding of attendee marketing issues, obstacles and goals
The Big Picture:
Evolution of branding
The growing ineffectiveness of traditional advertising & PR
The new branding imperatives: everyday operational excellence, customer equity and accountability
Everyday Operational Excellence:
Ensuring accurate and complete customer information
Making communications targeted and relevant
Key technologies
Realigning, eliminating or simplifying processes for customer focus
Achieving consistency in customer encounters
Customer Equity:
Definition: Lifetime value of profitable customers
Brand equity vs. customer equity
Profitability vs. market share
Advantages of customer equity
Applications of customer equity
Exercise: Basic customer equity calculation
Accountability:
Why marketing must be accountable
Disadvantages of traditional marketing metrics
Accountability vs. satisfaction
Customer accountability mapping
Loyalty indicators
Customer data:
The importance of customer interviews
Key data capture, cleansing & integration issues
How to nurture ongoing data collection
Review of sample customer interview
Customer evangelism:
Turning customers into a sales force
Avoiding customer "terrorists"
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Afternoon
Customer Equity Methodologies:
Customer equity pyramid
Customer equity dashboard
RFM (recency, frequency, monetary value)
Advanced: Customer P&L sheets
Customer Equity Pyramid:
Building an equity pyramid
Advantages of equity pyramid
Equity pyramid and 80-20 rule
Driving marketing strategies with equity pyramids
Customer Equity Methodology:
Segmentation: "Top," Big," "Medium" & "Small" customers
Identifying unprofitable customers
Exercise: Building a customer equity pyramid
Segmentation:
Strategies for increasing customer equity
Pricing and segmentation
Customer planning: Tactics for increasing customer equity
Determining marketing & other cost allocation
Organizational issues:
Change management principles
Compensation and other issues
Working with supply chain and other partners
Review
Close and evaluation
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Results
After attending, attendees will be able to:
Focus marketing expenditures and activities to obtain the best return on corporate investments
Improve the effectiveness of their retention and customer winback strategies
Improve retention and other metrics that increase profitability
Define and prioritize customer segments based on profitability and/or loyalty characteristics
Know how to turn customers into their best sales force
Ensure accurate and relevant customer information
Construct and manage customer planning action plans to increase the profitability and/or retention rates of customers
Gain insight into the organizational constraints that keep companies from doing business on customer terms
Allocate branding resources more effectively
Leverage new pricing approaches to maximize profitability
Know how to target the customers most likely to buy
Calculate the impact of customers who sometimes buy competitive offerings
Turn existing customers into a powerful sales force
Collect relevant market and customer information to improve the brand
Institute required change management to ensure that the brand is supported throughout the organization
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Accountability Press - 3340 Peachtree Rd., #1800 - Atlanta, GA 30326 USA - (001) 770-582-6791
© 2003 Nick Wreden. All rights reserved.
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