Business success starts with a solid understanding of the health of the customer relationship. The Customer Relationship Diagnostic (CRD) is a business intelligence solution that helps companies measure, improve and valuate the health of the customer relationship. The CRD will help you:
- Measure critical components of the health of the customer relationship
- Customer loyalty
- Satisfaction with customer experience
- Quantify the value of different types of customer loyalty behaviors
- Annual revenue growth through word-of-mouth
- Annual revenue growth through up/cross-selling
- Annual revenue at-risk due to churn
- Determine the primary causes of customer disloyalty
Select the right customer experience improvement solution(s) that will maximize ROI/Net revenue
- Understand how your performance compares to the competition and impacts customer loyalty
Who Uses the CRD and Why?
Two primary user groups who have used the CRD include: 1) Voice of Customer (VoC) and 2) Investment Professionals.
|Support your VoC program to improve the customer experience, increase customer loyalty and accelerate growth.
||Include a customer-centric approach in business valuation to maximize return on your investment.
Customer-Centric Business Metrics
The CRD contains reliable, valid and useful loyalty metrics to help you manage your business. These easy-to-understand metrics are excellent for executive dashboards. Including these metrics in dashboards helps ensure customer input is used in important business decisions. These metrics are:
Customer Loyalty Metrics
The CRD employs the RAPID loyalty approach which measures three important components of customer loyalty: retention (Retention Loyalty Index), advocacy (Advocacy Loyalty Index) and purchasing (Purchasing Loyalty Index).
Customer Experience Metrics
The CRD’s customer experience metrics assess customer satisfaction across seven primary business areas that drive customer loyalty. Some of these business areas include: ease of doing business; overall product quality; technical support; communication).
Relative Performance Assessment (RPA): Competitive Benchmarking
Competitive benchmarking is a useful way to help you understand your relative performance compared to your competition. Using the Relative Performance Assessment, you will be able to identify how to improve your competitive advantage and improve your share of your customers’ wallet. Estimate your industry percentile ranking using our Customer Perception of Percentile Rank (C-PeRk) score (possible scores range from 0% (worst) to 100% (best)).
Analysis and Reporting
The CRD employs a web-based customer survey to collect customer feedback. These data, along with your financial data, are analyzed to uncover insights that help with critical business decisions. Key customer metrics include the RAPID loyalty indices (measure the three components of customer loyalty) that can be integrated into executive dashboards.
Combining the results of the customer feedback with your financial data, the CRD will help you determine the potential revenue gain from both new and existing customers as well as the potential revenue loss due to customer churn.
The CRD contains easy to interpret graphs that help you interpret and communicate the survey results to all constituencies.
Learn more about the Customer Relationship Diagnostic (CRD)
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