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Emotional Brand Loyalty Measurement

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Customer brand loyalty represent the greatest chances for acquiring revenue. This presentation by WAC Survey and Strategic Consulting provides an example of a company developing a program to sustain loyalty and promotes the features of the WEALR8VA algorithm, which measures customer loyalty.

BusinessEconomy & Finance
1 of 23
 
THE CHALLENGE ,[object Object],[object Object],[object Object]
THE CHALLENGE (cont.) ,[object Object],[object Object]
THE POWER OF LOYALTY ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
SATISFACTION IS NOT ENOUGH ,[object Object],[object Object],[object Object],[object Object]
HOW LOYALTY BECOMES SELF-PERPETUATING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
ID Loyal Customers HOW LOYALTY BECOMES SELF-PERPETUATING (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],… Drive Continued Loyalty Thru Innovation: Continuing Loyalty Programs
HOW LOYALTY BECOMES SELF-PERPETUATING (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object]
HOW LOYALTY BECOMES SELF-PERPETUATING (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE QUESTION WE RAISED EARLIER ,[object Object],[object Object],[object Object]
EMOTIONAL BRAND ATTACHMENT AND LOYALTY ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
EMOTIONAL ATTACHMENT AS IT RELATES TO LOYALTY ,[object Object],[object Object],[object Object]
EMOTIONAL ATTACHMENT AS IT RELATES TO LOYALTY (cont.) ,[object Object],[object Object]
[object Object],[object Object],EMOTIONAL ATTACHMENT AS IT RELATES TO LOYALTY (cont.)
Repurchase/ continued use Fulfills important need Would recommend to others My world not same without it Brand- Company truly cares about me Unwilling to relinquish/ cease patronage Makes Me feel good/ positive experience LOYALTY and RETENTION Consistent delivery each time ANSWER: THE 8-VARIABLE WACSSCI EMOTIONAL ATTACHMENT LOYALTY-RETENTION ALGORITHM ( WEALR8VA  )
HOW WEALR8VA  WORKS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
IMAGINE THE POSSIBILITIES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],TAKING IT ONE STEP FURTHER: WEALR8VA  APPLICATIONS LOYALTY-BASED SEGMENTATION MODELS
TAKING IT ONE STEP FURTHER: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],WEALR8VA  APPLICATIONS (cont.): RESOURCE ALLOCATION
Increasing Profitability and Driving Growth Using WEALR8VA  Among Most Loyal Customers Develop product ideas with high fit to most loyal customers’ needs, wants, attitudes and behavior Develop global innovation platforms that are more tightly and accurately targeted Maximize under-standing of most important customers’/ prospects’ daily life goals and activities Increased Profitability and Growth Reduce flop risk of new and extended products Reduce Risk Leverage new product ideas across markets and segments Reduce Cost Increase retention and cross selling Increase Share of Customer Once success is in sight, then begin drive for acquisition of like-minded new customers Increase Market Share
WEALR8VA  Presents Unique Research Opportunities for New Product Development and Category Pre-emption Product Categories (Color = Attractiveness) Innovation Platforms Opportunities for Innovation? Product – Innovation Platform Fit DISGUISED CLIENT EXAMPLE
Greater Research Opportunities Resulting in Development of Focused Innovation/Growth Fueled by WEALR8VA  Actions for Frozen Foods Brand ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Eat snack from organic store Eat home-cooked dinner at sister’s house Buy European imported foods at specialty store to eat with husband in the evening Grill fresh, lean and healthy meat for dinner Prepare dinner at home instead of going out as usual Taste and buy food at farmers’ market Take the time to have breakfast at home Have a fruit snack Make “real” breakfast on weekends, alone, when waking up late Stay home and prepare healthy dinner with roommates once a month Prepare school lunch in the morning so that it stays fresh Prepare and freeze week’s meal after shopping at the open market Authenticity / Real Foods DISGUISED CLIENT EXAMPLE
CONTACT US For further information, please contact: New York Art Savitt: 516-466-7467 505 Northern Boulevard Great Neck, NY 11021 Fax: 516-829-5710 [email_address] Jim Frisch: 516-466-7467 505 Northern Boulevard Great Neck, NY 11021 Fax: 516-829-5710 [email_address]

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Emotional Brand Loyalty Measurement

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  • 15. Repurchase/ continued use Fulfills important need Would recommend to others My world not same without it Brand- Company truly cares about me Unwilling to relinquish/ cease patronage Makes Me feel good/ positive experience LOYALTY and RETENTION Consistent delivery each time ANSWER: THE 8-VARIABLE WACSSCI EMOTIONAL ATTACHMENT LOYALTY-RETENTION ALGORITHM ( WEALR8VA  )
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  • 20. Increasing Profitability and Driving Growth Using WEALR8VA  Among Most Loyal Customers Develop product ideas with high fit to most loyal customers’ needs, wants, attitudes and behavior Develop global innovation platforms that are more tightly and accurately targeted Maximize under-standing of most important customers’/ prospects’ daily life goals and activities Increased Profitability and Growth Reduce flop risk of new and extended products Reduce Risk Leverage new product ideas across markets and segments Reduce Cost Increase retention and cross selling Increase Share of Customer Once success is in sight, then begin drive for acquisition of like-minded new customers Increase Market Share
  • 21. WEALR8VA  Presents Unique Research Opportunities for New Product Development and Category Pre-emption Product Categories (Color = Attractiveness) Innovation Platforms Opportunities for Innovation? Product – Innovation Platform Fit DISGUISED CLIENT EXAMPLE
  • 22.
  • 23. CONTACT US For further information, please contact: New York Art Savitt: 516-466-7467 505 Northern Boulevard Great Neck, NY 11021 Fax: 516-829-5710 [email_address] Jim Frisch: 516-466-7467 505 Northern Boulevard Great Neck, NY 11021 Fax: 516-829-5710 [email_address]