ORC International announces global launch of Customer Equity Model
26 October 2011
The company has launched its new Customer Equity Model, a proprietary framework for measuring customer experience in the context of the brand promise and the broader external environment.
The model is unique in its ability to clarify the influences on buying decisions which impact business results and drive strategy development.
“In today’s complex market environment, simply being able to define and understand the extent of your customers’ loyalty and the drivers behind it is not enough,”
said Linda G Shea, SVP and Global Managing Director of Customer Strategies at ORC International.
The innovative model captures the customer experience through the measurement of four key factors:
- External influences: traditional marketing, third party opinions as well as personal and external circumstances
- Customer’s mindset: goodwill which is earned over time and generates tolerance and forgiveness
- Customer events: the basics of products and services as well as how they are provided to customers
- Customer loyalty: the degree to which dependence on the brand has been created and the return on the investment in loyalty is determined
ORC International’s Customer Equity Model quantifies the role of goodwill towards a particular brand of product or service in light of external influences such as traditional marketing and social media. It also assesses the extent to which dependence has been created to drive business results.
“It is essential for companies to align their actions and their metrics with strategy.Our Customer Equity Model provides a clear understanding of what actions a company needs to take to drive market outcomes and increase the return on their investment in customer loyalty,”
said Linda Shea.
The model will be formally launched in the UK at ORC International’s 10th annual customer experience conference in London on 10 November. The conference will focus on the latest, most ground-breaking approaches to customer research and will also feature landmark presentations from high-profile organisations.