Methodologies, techniques and technology are rapidly changing in the marketing research and insights industry. New products and services are being released at an ever-faster pace. How can you keep up on what is new? Quirk’s has you covered. In this section, you will find some of the newest and most innovative tools and services to keep your research up to speed. From the latest in software, technology, methodology and services, these are the products and service you will want to know about.
The benefits of loyal customers are well-known: loyal customers have higher retention, give a larger share of their category spend to the company and are more likely to recommend the brand to others. However, the S+R Brand Loyalty Monitor (BLM)™ demonstrated that across categories anywhere from 30 to 40 percent of frequent purchasers of products or services report that they are actively looking. Is this loyalty?
Measures of frequency of purchase or repurchase intent or recommendation or satisfaction are not sufficient to inform us about the quality of loyal behavior and how to manage it. The BLM™ is a fresh perspective on the quality and nature of loyal behavior, opening up new avenues for sustainable growth.
A customer-centric, data-driven tool, the BLM™ uses a multiple indicator model to not only assess how loyal customers are but also provide an understanding of how customers experience the brand and identify the rational and emotional drivers underlying the bonds customers develop with their brands. Companies leverage these insights to amplify those connections to strengthen their franchise.
The BLM™ helps companies understand their market and the different needs of their frequent customers through knowing the quality of loyalty segments and guides them in enhancing the experience and relationship bonds of their customers to create sustainable relationships.