Telling Five FriendsHarnessing Growth throughCustomer AdvocacyJoe AllanHead of Customer InsightStrategy and MarketingSepte...
Topics for discussion Customer Advocacy, Degrees of Separation, Spheres of Influence Influence of family and friends Be yo...
Customer Advocacy, Degrees of Separation &Spheres of Influence
Influence of family and friends
Be your own restaurant critic
Net Promoter® Score “The one number you need to grow” The “Golden Rule” – treat others as you expect to be treated The Que...
“Good Profits” vs “Bad Profits”                           Detractors drive “Bad Profits”                              They...
Customer Advocacy Equation              +              =
Net Promoter Score – Fact, Fad or Fiction?
Net Promoter® Stars
Who, or what, do you advocate?
Fair Banking Agenda
CUA - uniquely positioned on customer advocacy
Pen Portrait - Mutual Families             Average Age: 43             Gender:                           Product Holdings ...
Low Involvement Product
High Involvement Product
The need for Social Network Analysis
Punching above our weight
Advantage for credit unions
Value opportunity
In Summary  To Harness growth through Customer Advocacy, need to consider:  Who are your Promoters?  Who are your Detracto...
Acknowledgements SAS Institute Datamonitor RFI Colmar Brunton research IBM
Questions?
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Telling Five Friends Harnessing Growth through Customer Advocacy

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Joe Allan, Head of Customer Insight Strategy and Marketing, Credit Union Australia

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Telling Five Friends Harnessing Growth through Customer Advocacy

  1. 1. Telling Five FriendsHarnessing Growth throughCustomer AdvocacyJoe AllanHead of Customer InsightStrategy and MarketingSeptember, 2011
  2. 2. Topics for discussion Customer Advocacy, Degrees of Separation, Spheres of Influence Influence of family and friends Be your own restaurant critic Net Promoter® Score “Good Profits” vs “Bad Profits” Customer Advocacy Equation Who do you adovcate? “Fair Banking” agenda CUA’s advocacy position Low versus High Involvement Products Social Network Analysis Value opportunity In Conclusion
  3. 3. Customer Advocacy, Degrees of Separation &Spheres of Influence
  4. 4. Influence of family and friends
  5. 5. Be your own restaurant critic
  6. 6. Net Promoter® Score “The one number you need to grow” The “Golden Rule” – treat others as you expect to be treated The Question: “How likely is it that you would recommend Company X to a friend or colleague?”
  7. 7. “Good Profits” vs “Bad Profits” Detractors drive “Bad Profits” They cut back on purchases Switch to the competition Spread negative word of mouth over the Global PA System: the Internet Promoters drive “Good Profits” They willingly come back for more Tell family, friends and colleagues to do business with you Become part of your Marketing Department (for free!)Understanding who are your Promoters and who are your Detractors is key Companies seeking to grow must increase %Promoters and Decrease %Detractors
  8. 8. Customer Advocacy Equation + =
  9. 9. Net Promoter Score – Fact, Fad or Fiction?
  10. 10. Net Promoter® Stars
  11. 11. Who, or what, do you advocate?
  12. 12. Fair Banking Agenda
  13. 13. CUA - uniquely positioned on customer advocacy
  14. 14. Pen Portrait - Mutual Families Average Age: 43 Gender: Product Holdings • Home loan F43% M57% • Personal Loan Marital Status • Savings Account • Married/De Facto: 75% • Transaction Account • Single/ Never Married: 14% • Insurance • Divorced/ Widowed: 11% • Segment Share of CUA Customers: 20% • Segment contribution to CUA by value: 43% • Tenure : 11 Years
  15. 15. Low Involvement Product
  16. 16. High Involvement Product
  17. 17. The need for Social Network Analysis
  18. 18. Punching above our weight
  19. 19. Advantage for credit unions
  20. 20. Value opportunity
  21. 21. In Summary To Harness growth through Customer Advocacy, need to consider: Who are your Promoters? Who are your Detractors? Understand how these are connected in Social Networks How to reward, recognise and/or incent your Promoters Measure results and continue to improve
  22. 22. Acknowledgements SAS Institute Datamonitor RFI Colmar Brunton research IBM
  23. 23. Questions?

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