The Business Challenge
We understand that building a loyal customer base is foundational to the success of your organization. But acquiring new customers is costly, so getting your customers to spend more with you can often be a more effective way to grow the business.
We believe that understanding customer sentiment and their decisions in the context of the competition is necessary rather than just focusing on a singular measure like satisfaction or a Net Promoter Score (NPS) alone.
Knowing what the measurement is and whether or not it’s been achieved isn’t enough. It’s also important to determine how it links to performance goals so your organization can plan improvement initiatives and continue to gauge success.
MaxShare™ will enable you to determine what factors influence customers’ behavior in shifting their spending to you vs. the competition and link that to your bottom line.
How it’s Different
Leveraging the award-winning Wallet Allocation Rule ® developed by our Chief Client and Strategy Officer, Tim Keiningham, Ph.D., this proven method is rooted in the fundamental tenet that rank matters more than absolute performance. Unlike Net Promoter scores, MaxShare™ provides a true customer view of your brand and correlates key metrics to your “share of wallet.”
Even if your organization has used NPS or other measures to track customer loyalty, MaxShare™ takes into account and builds upon them to give you the comprehensive picture.
Benefit of the Approach
By taking an integrated view of the competition and your customers, MaxShare™ helps you:
- Quantify the spend going to competitors from your customers
- Identify what really drives spending
- Model and link to your share of business with existing customers