Innovating Analytics: Word of Mouth Index- Use the Next Generation of Net Promoter Can Increase Sales and Drive Business Results - Rilegato

Freed, Larry

Rilegato

ISBN 10: 1118779487 ISBN 13: 9781118779484

Casa editrice: John Wiley & Sons Inc, 2013

Riassunto

How does a CEO, manager, or entrepreneur begin to sort out what defines and drives a good customer experience and how it can be measured and made actionable? If you know how well the customer experience is satisfying your customers and you know how to increase their satisfaction, you can then increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. More reliable and more useful data leads to better decisions and better results. Innovating Analytics is also about the need for a comprehensive measurement ecosystem to accurately assess and improve the other elements of customer experience. This is a time of great change and great opportunity. The companies that use the right tools and make the right assessments of how to satisfy their customers will have the competitive advantage.

Innovating Analytics introduces an index that measures a customer’s likelihood to recommend and the likelihood to detract. The current concept of the Net Promoter Score (NPS) that has been adopted by many companies during the last decade—is no longer accurate, precise or actionable. This new metric called the Word of Mouth Index (WoMI) has been tested on hundreds of companies and with over 1.5 million consumers over the last two years.

Author Larry Freed details the improvement that WoMI provides within what he calls the Measurement Ecosystem. He then goes on to look at three other drivers of customer satisfaction along with word of mouth: customer acquisition, customer loyalty, and customer conversion.

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Informazioni sull'autore

LARRY FREED is the President and CEO of ForeSee, a customer experience analytics firm that measures satisfaction and delivers powerful insights on where to prioritize improvements for maximum impact. An expert on customer satisfaction across all touchpoints and at the brand level, Larry speaks extensively on the topic at private and public sector industry events and has been quoted in numerous publications and media, including CNN, the Wall Street Journal, the Washington Post, and Investor’s Business Daily, among many others. Larry is also the author of Managing Forward, published in 2011.

Dalla quarta di copertina

A satisfying customer experience is the driver of any business's revenue growth. If you know how to measure and improve the customer experience, you will increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. Over the past decade, Net Promoter Score, has become a Key Performance Indicator used by businesses all over the world, from small mom-and-pop shops to Fortune 500 giants. However, NPS has not kept pace with the evolving world of customer behavior and customer experience analytics. Enter the Word of Mouth Index (WoMI).

Innovating Analytics introduces and explains WoMI, a metric that measures a customer's likelihood to recommend or to detract. Tested on hundreds of companies and more than 2 million consumers over the last two years, WoMI provides a more accurate and comprehensive measure of word of mouth and its impact on your business.

Innovating Analytics goes on to examine the four drivers of business success, why the customer experience matters, and the value of the Customer Experience Measurement Ecosystem. Through detailed guidance, it explains:

• What NPS is, what it does well, and how it is flawed
• How to use WoMI to identify a business's promoters and detractors more accurately
• How to use behavioral data, feedback, observation, and satisfaction to predict customer behavior
• Best practices for improving customer experience
• How to use Big Data to improve the effectiveness of marketing and merchandising

This is a time of great change and great opportunity, and businesses desperately need more reliable and more useful data in order to make better decisions and achieve better results. Innovating Analytics offers the right tools to make the right assessments of how to satisfy your customers and gain a competitive advantage today.

Dal risvolto di copertina interno

Praise for Innovating Analytics
 
"Innovating analytics is critical in baseball, in politics, and in business. Larry Freed is at the forefront of developing useful new metrics that will help businesses succeed."
--BILLY BEANE, General Manager, Oakland Athletics, and the subject of the bestseller Moneyball
 
"Challenging conventional wisdom and building upon the wealth of knowledge derived from one of the most widely used customer experience measurement tools in business today, Innovating Analytics is an essential addition to any marketer's library. Clearly, Larry Freed is one of the leading minds in the customer experience industry, as he thoughtfully offers tested and practical strategies that businesses can implement immediately."
--BRUCE ROGERS, Chief Insights Officer, Forbes Media
 
"Innovating Analytics is a natural extension of Larry's career-long exploration of innovative business solutions."
--THOMAS H. ZURBUCHEN, Associate Dean of Entrepreneurial Programs, University of Michigan
 
"Larry Freed and ForeSee are at the forefront of transforming business around the world with actionable, predictive metrics. Innovating Analytics contains critical information for any executive who wants to improve business outcomes."
--RICK SNYDER, Governor of the State of Michigan
 
"Innovating Analytics is a compelling exploration of the potential power of customer experience metrics in the modern age. Larry Freed's combination of academic research with practical business implementation makes this book a must-read for any business leader."
--MARK MAHANEY, Managing Director, RBC Capital Markets
 
"Too many businesses are relying on metrics that are outdated and have no relationship to company growth and profit. Innovating Analytics is a must-read for any executive about the power of good metrics and the dangers of bad ones."
--CLAES FORNELL, founder and Chairman, ACSI, and author of The Satisfied Customer
 
"In his new book, Larry Freed draws on his years of expertise to wisely urge business leaders to challenge the status quo when it comes to measuring and understanding the customer experience."
--ROBERT APATOFF, President, FTD Group, Inc.

Dettagli dell'edizione

• Editore: John Wiley & Sons Inc
• Data di pubblicazione: 2013
• Lingua: Inglese
• ISBN 10: 1118779487
• ISBN 13: 9781118779484
• Rilegatura: Copertina rigida
• Numero edizione: 1
• Numero di pagine: 282
• Contatto del produttore: non disponibile
• Persona responsabile: non disponibile