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Lowenstein Webcast


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Lowenstein Webcast

  1. 1. Topic: Linking Customer Feedback and Brand/Supplier Loyalty Featured Speaker: Michael Lowenstein Webcast Date: TBD Recording: September 13, 2002; 10am ET Program Information The RealMarket Difference: RealMarket Live! is an interactive, interview style program. We have produced more than 100 CRM related Webcasts and we have listened to dozens more studying what works well and what does not. “Talking head” presentations don’t work over the Internet. Listeners tend to ‘click out’ of standard presentations. The lack of eye contact, hand gestures and speaker movement demand more interactive content delivery. In response, we create a conversation for listeners to “ease-drop” on in the spirit of proven television or radio interviews. We move quickly and we give them control of the slides and the audio. The interview style is different than the presentation style. Think in terms of conversation of sound bytes. Topic Selection: Bring your ‘A-game.’ We are not looking for you to create something new. Rather we know that you are an accomplished speaker and regularly speak in public forums. We want your most current, best topic. You’ve already got the message – we provide the medium. Graphics: We suggest you provide 5 PowerPoint slides that can be used as a graphical aid for the -6 listening audience. Since the Webcast is an interview and not a presentation, the slides should be used as a backdrop rather than the focal point. Briefing Conference: The briefing conference (typically 20 – 30 minutes) is an opportunity for the interviewer to understand the speaker’s content in order to form a series of questions used for the interview. It is also an opportunity for the speaker to ask questions about the recording process. When Recording, Remember: • To speak for no more than 30 – 45 seconds without pausing. • To refer to supporting slides by number (often) especially during slide changes. • To turn off any noise distractions (beepers, cell phones, second phone lines, etc.) • You may want to place a note on your door – “recording in progress, do not disturb.” • The 20-minute time target. • It is streaming audio – there is no post-recording editing. • To HAVE FUN. Interactive conversations are engaging from a personal perspective too! Interview Length: Less is more. The RealMarket Live! interview is 20 minutes in length. Our research indicates that people want quick-moving, to-the-point presentations with core material efficiently presented - especially Internet delivered content. Listeners are more likely to remember you if you respect their time. The scope of the topic should match the allotted time and links to white papers or additional resources may be appropriate. Contact Information: • Gary Lemke, +1 317.816.0677 x201;
  2. 2. Topic: Linking Customer Feedback and Brand/Supplier Loyalty Featured Speaker: Michael Lowenstein Webcast Date: TBD Recording: September 13, 2002; 10am ET Outline " Linking Customer Feedback and Brand/Supplier Loyalty " Welcome to RealMarket Live!, a weekly production of RealMarket. I’m Gary Lemke, the host of today’s program and with me is Michael Lowenstein, Managing Director of Customer Retention Associates. Michael has over 30 years' experience in loyalty research, service quality and strategic marketing and planning, A sought-after speaker, Michael addresses corporations and business associations nationwide on customer retention and loyalty and is the author of the progressive book, Customer Retention: An Integrated Process for Keeping your Best Customers and the widely acclaimed book, The Customer Loyalty Pyramid. Today, Michael will be talking about the link between customer feedback and customer loyalty and share some real life examples of the positive impact of linking the two together. Michael, Welcome to RealMarket Live! <Michael responds> Housekeeping: Before we get started, let me remind our listeners to follow along with the slides. They do not advance automatically so use the controls underneath. Also, we encourage feedback at the conclusion of the presentation by advancing to the last slide or using the feedback link at the top. Now, back to the topic at hand. Slide #1 Linking Customer Feedback and Brand/Supplier Loyalty: Question: Michael, in the world of CRM, you’ve What Smart Companies got two very powerful concepts wrapped together. Are Doing Customer feedback and loyalty. Is customer satisfaction the same as loyalty? Michael Lowenstein, CPCM Managing Director Customer Retention Associates Notes:
  3. 3. Slide #2 Question: Michael, customer feedback typically surfaces in organizations as complaints. Are complaints a good thing or a bad thing? Notes: Slide #3 Generating/Acting On Complaints l Make it easy to complain Question: Michael, it seems like critical customer l Proactively solicit complaints – Model loyalty effect of feedback can take an organization out of its game expressed/unexpressed complaints plan. What are the lessons learned in dealing with l Handle at lowest level complaints? l Train staff in communication, application of remedies l Resolve quickly Notes: Slide #4 Question: OK Michael, let’s talk numbers. What is the link between feedback and loyalty? Notes:
  4. 4. Slide #5 Harrah’s Hotels and Casinos - Loyalty cards for profiling/identifying demographics and lifestyle of new customers (players) Question: Michael, up front we promised some - Music, dining, hobbies, vacations, etc. interest - Tracking play at gaming tables and gambling real life examples. What do you have for us today? machines – time, amounts spent, betting strategy, win/loss ratio, etc. - Managing player/guest experiences Note: just transition to the next case study by (CEM) yourself without my prompt. - Data shared at touch screen terminals used by pit bosses, hotel clerks, restaurant staff, others - Integrating player gaming/hospitality data from multiple properties/locations within each property Notes: Slide #6 Dorothy Lane Markets – Dayton - Collecting active customer data - Every night senior store employees call five customers who shopped that day for feedback - Every week managers send handwritten letters to customers inviting them to ask questions, make suggestions, voice concerns Note: Continue on with this example. - Volunteer customer advisory group - sounding board for new ideas; serve for two years - Using data to reward good customers for their behavior - Surprise/out-of-the-box gifts – concerts, gift certificates, charitable donations, etc. Notes: Slide #7 British Airways British Airways proactively seeks to understand customers’ perceptions of services. They actively encourage and collect customer information, from multiple touch points, to: - Increase staff performance and operational efficiency Note: Continue on with this example. - Create, and reinforce, positive customer experiences of the BA brand - Measure and improve service delivery performance to meet/exceed customer expectations - Reduce repetitive complaints – Although proactively sought, BA reduced year -to-year complaints by 30%! Notes:
  5. 5. Slide #8 Baptist Health Care - HealthSource (Contact Center) obtains and aggregates anecdotal patient issue feedback for service recovery - Data Capture – Date/type/resolution of incident; department/unit involved; customer won/lost; costs Note: Continue on with this example. - Data Category – Patient Care; Operations; Environmental; Physicians - Data Sharing – With department leaders, on frequent basis - Data Recording – Multi-source data regarding service recovery logged, then stored in database Notes: Slide #9 Conclusions l Many types, and sources, of data can help drive customer loyalty l Innovation and flexibility are needed Question: Michael, what can people take away to integrate/optimize all customer from the examples you just shared with us? ‘touch’ data channels l Brand/company loyalty can be created, through data application, at each customer life stage Notes: Slide #10 Value is About Much More Than Money l Value = Customer -perceived tangible/intangible benefits supplied + solutions provided - what is required Question: Michael, let’s talk about value. Should to obtain benefits and solutions organizations think about value in terms of Lifetime l The Kano Model – Expected - Failure to deliver will result in Customer Value or something else? likely defection – One-Dimensional - Desired, standards of competitors – Attractive/Surprising - Positive and unanticipated Notes:
  6. 6. Slide #11 Searching Out Value l P.A.C.E. Process - Four Parts - Prepare – What does company know about customers/what’s missing Question: Michael, as your work with – Assemble - Identify needs and organizations looking to maximize value, what do you wants/form attributes – Comprehend - Quantitative tell them about customer value? research/improvement priorities – Employ - Develop/execute/re- evaluate action plans Notes: Slide #12 Recognize the Difference Between Satisfaction and Loyalty Measurements/Metrics l Overall performance and change l Intent to repurchase and recommend Question: Michael, in the few minutes we have l Customer-defined attributes + importance and left, summarize the link and differences between performance measurement customer satisfaction and customer loyalty. l Expressed/latent complaints l Top-box score usage, not means l Staff-customer gap profiling l Loyalty modeling/use of graphics Notes: Closing Michael, thanks very much for your time today and thanks for sharing your insights. <Michael responds> This concludes this week’s edition of RealMarket Live!. If you have any questions about today’s presentation, you may contact Michael by clicking on his picture on the left hand side of your browser. And finally, we invite you to fill out a feedback survey on the last slide letting us know what you thought of today’s presentation. We look forward to seeing you again for another RealMarket Live! webcast.