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Podcast: Mining the Big Data Opportunity in Customer Loyalty

Tom SpringerIf you’re an angry customer, the last thing you want is another generic offer from the company that has raised your ire. These missteps can irreparably damage a relationship.

But companies that know how to collect, analyze and act on customer data will learn to avoid these situations, says my colleague Tom Springer, who leads Bain’s Advanced Analytics practice. They’ll use that data to calibrate their offers based on a customer’s level of advocacy, allowing them to expand relationships with promoters and avoid missteps that might leave detractors feeling exploited.

Most companies have vast amounts of customer data—such as the recency, frequency and value of purchases, as well as the number of service calls—but few are using it to its deepen those relationships. Tom is helping companies harness Big Data in ways we couldn’t imagine 10 years ago, creating new opportunities to build loyalty.

You can listen to our conversation on iTunes, Stitcher or through the player below.

3 Responses to Podcast: Mining the Big Data Opportunity in Customer Loyalty

  1. Hey Rob – great podcast. During the conversation you asked about alternative terminology for cross-sell – I’ve been using “relationship expanding”, which is a bit of a mouthful but I like it because a) cross-sell feels very product focused while this wording is more around the customer connection, and 2) it implies growing the bond with the customer instead of a “sale”.

    Rick

  2. We’ve historically focused our efforts on “deepening relationships”. However, we’ve recently started to use language that leverages our brand message “we Power Possible”. We are working on a new weekly huddle for our front line that focuses the discussion on how our reps “Power Possible” vs the more traditional “sales huddle” where the focus is on products. We are fidnding the “Power Possible” huddles to start to touch on situations where a rep was able to help a customer plan for vacation, buy a car, or pay off a credit card. We still have a way to go…but it’s a start

  3. Hi, do you allow guest posting on netpromotersystemblog.com ? :) Please let me know on my e-mail