For eBusiness & Channel Strategy Professionals

Topic Overview: Customer Advocacy

by Bill Doyle, November 26, 2007

Forrester's research shows that a key driver of deeper customer relationships is a trait we call "customer advocacy" — the perception on the part of customers that a firm does what's best for them, not just what's best for its own bottom line. When customers . . .

For Marketing Leadership Professionals

Case Study: P&G's BeingGirl.com Builds Lasting Brand Loyalty

by Lisa Bradner, August 20, 2007

Procter & Gamble (P&G) wanted to build an online destination for teen girls seeking information related to feminine care. The site it built, BeingGirl.com, provides health content, product information, and teen community in a safe, entertaining . . .

For eBusiness & Channel Strategy Professionals

The UK's Nationwide Puts Its Members First

A Case Study In Experience-Based Differentiation

by Benjamin Ensor, August 15, 2007

In the late 1990s, the UK's Nationwide Building Society faced a challenge — many members were pushing the institution toward demutualization. Nationwide rebuffed this move by improving its customers' experience — changing its products, pricing, marketing, . . .

For Marketing Leadership Professionals

Case Study: USAA Drives Fierce Loyalty With Its Customer-Centric Culture

by Peter Kim, June 22, 2007

USAA consistently wins accolades for superior customer service. The insurer was founded by members for their own mutual benefit, which has engendered a best practice customer-centric culture. While competitors look to cut costs by reducing direct customer . . .

For Customer Intelligence Professionals

Forget About Loyalty, Focus On "Ophelimity"

Lester Wunderman Shares Words Of Wisdom On Relationship Marketing

by Lisa Bradner, June 4, 2007

At the recent Forrester's Marketing Forum 2007 in Miami, we were honored to have Lester Wunderman, the father of direct marketing, as a keynote speaker. Mr. Wunderman coined the phrases "direct marketing" and "relationship marketing" and applied the principles . . .

For Marketing Leadership Professionals

Reinventing Marketing For Customer Centricity

Insights from CMO Keynotes At Forrester's Marketing Forum 2007

by Elana Anderson, May 17, 2007

Many firms aspire to be customer-centric, yet few have figured out the recipe for successfully transforming their business. At this year's Marketing Forum, top marketing executives from leading companies spoke about their efforts to put the customer at . . .

For Marketing Leadership Professionals

Financial Services Institutions Should Tackle Price Optimization

by Mary Pilecki, February 15, 2007

Retail financial services institutions (FSIs) continue to struggle to increase share of wallet. But the majority of consumers don't believe that their FSIs are rewarding them appropriately for their current relationship — so why buy more? Financial institutions . . .

For Customer Experience Professionals

Building Your Voice Of The Customer Program

by Bruce D. Temkin, February 8, 2007

Many companies say that they don't have a good connection with customers. That's why firms should consider developing a systematic approach for incorporating the needs of customers into the design of customer experiences; what Forrester calls a voice . . .

For Customer Experience Professionals

The Experience-Based Differentiation Self-Test

by Bruce D. Temkin, February 7, 2007

Forrester introduced the concept of Experience-Based Differentiation (EBD), which builds on three principles: obsess about customer needs, not product features; reinforce brands with every interaction, not just communications; and treat customer experience . . .

For Marketing Leadership Professionals

Net Promoter Scores: Good, But Not Enough

by Christine Spivey Overby, February 2, 2007

Net Promoter has become a popular way to measure customer satisfaction and loyalty. But, as with any single measurement, it doesn't tell the entire story. To put a Net Promoter Score — or any customer metric — into action, companies need to analyze it . . .

Customer Retention Is A Process, Not An Event

A Four-Step Cycle For Improving Customer Loyalty In Financial Services

by Mary Pilecki, January 9, 2007

Financial services institutions (FSIs) are once again focusing on retaining their existing customers, but with little success. Given a lack of clear metrics on what attrition is and no enterprise focus on the problem, FSIs are reactively rather than proactively . . .

How Database Marketers Measure Performance

Database Marketers Must Rev Up Measurement Efforts To Solve Staffing Woes

by Elana Anderson, October 19, 2006

Nearly three in four database marketers say they are effective at measuring the results of their efforts. Yet these same marketers complain that lack of analytic staff is the biggest barrier to driving even bigger gains for their firms. We think these . . .

New Realities Impact Australian Financial Services Firms

Best Practices For Customer Advocacy

by Alyson Clarke, July 11, 2006

Finance Forum 2006 examined what firms must do to take advantage of the new realities in financial services. In this document, we look at these new realities, the problems Australian firms need to address, and what is required to take advantage of the . . .

Driving Sales Through The Branch Network

by Cliff Condon, November 29, 2005

Bank executives are investing in branches to drive greater product cross-sell through their brick-and-mortar channel. But making the transition from transaction-based branches to sales-oriented ones will require large-scale change. In addition to reworking . . .

The Secret To E*TRADE's Cross-Sell Success

A Conversation With CEO Mitchell Caplan And President And COO R. Jarrett Lilien

by Bill Doyle, October 28, 2005

E*TRADE chiefs Mitchell Caplan and R. Jarrett Lilien believe that cross-sell works best when it is embedded in a tool like E*TRADE Complete's Cash Optimizer. To drive even deeper relationships with investors, E*TRADE is adding advisory capacity — pitting . . .

E*TRADE Buys BrownCo And Grabs More Prime Cross-Sell Prospects

by Bill Doyle, September 30, 2005

For the second time in as many months, E*TRADE has agree d to purchase a direct brokerage firm from a big bank. The acquisition of BrownCo from JPMorgan Chase gives E*TRADE access to another fresh crop of active and high-asset investors — segments the . . .

The Price Of Point-Of-Sale Customer Data

How Brands And Retailers Can Share Consumer Data For Mutual Gain

by Fiona McDonnell, April 1, 2005

The fight between retailers and manufacturers has expanded to the use of data. Both parties would fare better if they settled on a price between 1% and 5% of the brand owner's net revenues. At the negotiation table, factors like retailer exclusivity and . . .

Identifying The Emotive Consumer

How Marketers Can Find Out What Drives Loyal Customers

by Fiona McDonnell, March 30, 2005

Consumer goods firms and retailers collect enormous amounts of data on consumers, but are not able to use it to drive symbiotic loyalty. To become effective, firms should divide consumer data into three levels — collective, individual, and emotive. Each . . .

When Is Cross-Sell Email Considered Spam?

FTC's Rule Clears The Way To Combine Offers With Confirmation Emails

by Jim Nail, December 23, 2004

Last week, the Federal Trade Commission (FTC) clarified the definition of the "primary purpose" of a commercial email, as required by the CAN-SPAM Act. In emails that combine selling with transactional or editorial content, marketers must pay attention . . .

Symbiotic Loyalty

The Next-Generation Consumer Loyalty Strategy

by Hellen K. Omwando, November 3, 2004

Consumer loyalty is declining; conventional loyalty strategies fail because they are one-sided and ignore critical loyalty drivers. To turn the tide, brands need to shift to symbiotic loyalty, building consumer trust through emotive connections, actively . . .

Customer Analytics Help Boost Loyalty

by Bruce D. Temkin, March 26, 2004

Forrester surveyed 28 active users of customer analytics. While these firms have successfully used analytics to increase loyalty, they often run into problems trying to operationalize the findings. To increase the likelihood of success, include the sales . . .

Canadian Banks' Best Cross-Sell Prospects

by Catherine Graeber, Ron Shevlin, Tom Watson, June 16, 2003

Just 18% of Canadians will consider their current bank for their next financial purchase and are interested in buying multiple products from a single provider. To achieve cross-sell success, banks should target online consumers and provide a cross-channel . . .

CRM Best Practices: CVS Loyalty Card Marketing

by Eric Schmitt, Christine Spivey Overby, June 5, 2003

CVS has enrolled more than 34 million members in its ExtraCare card program - a group that drives more than half of the chain's nonpharmacy revenues. The program's outstanding design and execution highlight a wealth of database marketing best practices.

Conquering The Cross-Sell Crisis

by Ron Shevlin, Catherine Graeber, Jeremy Sweeney, Tom Watson, March 20, 2003

Only 26% of the average bank's customers will consider it for their next purchase, and few will look to a bank for their investment needs. To improve their cross-sell odds, banks must target online banking and bill pay customers.

Fixing Grocery Loyalty Programs

by Christine Spivey Overby, Kate Delhagen, Amy Dash, January 29, 2003

Today's undifferentiated grocery shopping cards don't create consumer loyalty. US grocers must tailor their programs to four types of grocery shoppers to increase their share of basket and profitability.