"How Can My Company Really Do Something
About Increasing Customer Satisfaction And Loyalty?"

A Pervasive Problem
Modern companies typically do not lack information. In many cases the opposite is true, and they are overloaded with historical data. What they often lack are the tools and systems that can transform that data into meaningful results and actions that lead to increased satisfaction and loyalty among their customers.

"That distinction (market differentiation) will not come from what data a company has available, but how well it crunches the numbers and researches accurate conclusions" - 1-to-1 Magazine

A Simple, Low-Cost Solution Richmark offers a software solution, a Loyalty Improvement Tool, that can use your existing data (or if appropriate newly obtained data) to…

Identify the relative importance of the factors that drive satisfaction and loyalty + Predict how satisfaction and loyalty changes when one or more of the driving factors are changed + Trade-off the changes that are predicted to yield the biggest increases in satisfaction and loyalty with the relative costs of implementation = Increased customer satisfaction and loyalty at the lowest cost (ROI)

A Predictive Tool
Based upon neural network modeling technology, the Loyalty Improvement Tool is a predictive analysis and management decision-making tool, which identifies and quantifies the factors that will make your customers more satisfied and loyal.

This software solution discloses the drivers of satisfaction and loyalty and ranks them according to the relative value to which they will increase satisfaction and loyalty. Numerous key indicators can be used to measure the increase in satisfaction and loyalty, e.g., stated overall satisfaction, likelihood to repurchase, willingness to recommend, share of wallet, etc.

Simulation Capability
Also this software solution includes a simulation package that allows your company to run "what if" scenarios and thereby predict the impact of any given action (or set of actions) on your customers' satisfaction and loyalty before it is implemented. Thus your company can identify which action(s) generate the best outcomes without guesswork or experimentation.

Applying the relative "costs" of implementing each action (or set of actions) your company can then determine which action(s) represents the best return on investment - i.e., the optimal solution.

Use Existing Data
The Loyalty Improvement Tool works with conventional customer satisfaction data, including existing data (assuming there is data on the key indicators). This means your company may not have to conduct any new research to realize the benefits of this unique software solution, resulting in a very attractive ROI for your company. In an increasingly competitive world customer satisfaction and loyalty are critical to business growth. From Richmark's experience the work being done today places too much emphasis on measurement and not enough on action. And it seems all the customer loyalty programs look strangely similar. This Loyalty Improvement Tool represents an innovative and simple tool that will enable your company to do something meaningful to increase customer satisfaction and loyalty.

"Retaining customers in business markets isn't just about keeping them in the fold; companies must also develop relationships with customers and grow loyalty over time"

"Building Loyalty in Business Markets"
By Das Narayandas Harvard Business Review

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