CEOs the world over have come to recognize the importance of building a loyal customer base to the success of their organizations. To achieve this goal, firms worldwide have adopted holistic customer experience management programs with the aim of improving the share of business that customers allocate to their brands. However, research has found that most efforts to improve the customer experience result in low, even negative returns on investments even when they result in higher customer satisfaction levels or Net Promoter Scores (i.e., NPS, a measure of customers’ willingness to recommend a brand).
Fortunately, groundbreaking research provides a solution to this problem—the Wallet Allocation Rule® – the subject of a New York Times book and award winning, peer-reviewed scholarly research. The video below provides a quick 5 minute overview of the the Wallet Allocation Rule® – outlining the problem with current loyalty metrics and explaining how the Wallet Allocation Rule® provides a proven solution.