Dr. Lawrence A. Crosby, CEO of Symmetrics, the global customer loyalty management practice of Synovate, presented the specifics of his Measure, Model, Manage framework to a group of marketing management professionals in Johannesburg and Cape Town on 12 and 13 May.
Hosted by Synovate South Africa, Dr. Crosby shared his experience in what leading companies are doing today to move customer loyalty to the centre of their business strategy. Dr Crosby has been a significant thought leader in the customer loyalty field for 30 years and is a key player in evolving the measurement and management science of customer loyalty. Recent findings on the importance of customer loyalty to corporate CEOs
"Many companies are frustrated by years of investing in customer satisfaction and loyalty measurement without seeing organisational and business change," Dr. Crosby noted. "To realise financial results from a customer loyalty strategy, organisations must use the right measures, apply the best analytic and decision support techniques, and change their management processes."
During the seminar "Raising The Bar" - Customer Loyalty Management Thought Leader Shares Best Practices, Dr. Crosby used many case studies to show how real companies are getting real results. He talked about:
The evolution of customer measurements over the last 30 years from satisfaction to emotional bonding
Using an Integrated Measurement System architecture and process for managing the strategic alignment and tactical monitoring of customer loyalty research and metrics from the executive suite to the front line
Setting customer loyalty goals that are reasonable and achievable
Designing a planning process using a customer loyalty lens
Using customer loyalty simulators for scenario planning
Designing and testing customer loyalty initiatives for effectiveness and scalability
Creating management accountability for customer loyalty
Participants at the event represented a vast array of B2B and B2C industries including financial services, consumer packaged goods, durable goods, telecommunications, and technology. "Customer loyalty is a strategy that can be successfully designed and implemented in any industry and for any customer group," Dr. Crosby commented.
"Customer loyalty is one of a company's most important strategic assets and offers the opportunity for significant leverage in achieving market and financial goals," he continued. "Every company has to decide how to allocate their resources. Starting this process with the goal of building long-term unbreakable rational and emotional bonds with customers, helps to assure total organisational alignment around a results-oriented business strategy."
Synovate South Africa are the leading customer loyalty trackers in South Africa. Based in Bryanston, Johannesburg for the last 15 years, Synovate has actively helped blue chip companies increase their customer loyalty. "We are delighted that Dr Crosby could share his vision and thought leadership to ensure that our clients appreciate the role of brand and emotional appeal in driving customer loyalty," said Albert McLean, Managing Director of Synovate South Africa.