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Customer Loyalty
Author: Jennifer McEnroe Tarr
Contributors: Kara Gruver, Ruma Sanyal
Reviewer: Rob Markey
March 1998
Copyright© 1998 Bain & Company, Inc.
Customer Loyalty
Agenda
•What is Loyalty?
•Evolution of the Loyalty Practice
•Loyalty Economics
•How Bain Helps Clients Maximize
the Value of their Customer Base
•Example
•Loyalty Tools
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Customer Loyalty
What is Loyalty?
Loyalty is a perspective on business strategy which emphasizes the
delivery of superior value to the best customers and employees. Since
their loyalty is key to profit and growth, their acquisition, defection, share
of relevant wallet provide focal points for measurement, learning and
improvement.
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Customer Loyalty
Loyalty is a Bain & Company Innovation
"Bain & Company...is responsible for virtually
all the economic research, financial analysis
and consulting in the field of customer
retention and recovery"
Council on petition
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Customer Loyalty
Agenda
•What is Loyalty?
•Evolution of the Loyalty Practice
•Loyalty Economics
•How Bain Helps Clients Maximize
the Value of their Customer Base
•Example
•Loyalty Tools
bc
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Customer Loyalty
Evolution of the Loyalty Practice
Over the years, the training on loyalty has evolved from “don’t lose any
customers” to “how do I maximize the value of my customer base”.
Early in Evolution: Current View:
Customer Retention Customer Loyalty
Fundamental •Keeping customers: Good •Customers who buy more: Good
insights: •Losing customers: Bad •Some customers will never buy
more
What led to •ROS/RMS doesn't work in •Credit/casualty losses
the services •Low spenders or non-borrowers
insights: •Quantification of retention •Share of wallet economics
economics
Some •Maryland National •American Express
examples: •MBNA •State Farm
•Commercial •BankInter
•Baxter IVD & IV systems •merce
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