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New Model Links Churn and Profitability
Surrey-based advanced analytics agency Holden Pearmain has launched miniMAX™, a model using a combination of survey and non-survey data to link customer satisfaction and loyalty with actual profitability.
According to the agency, the model has been developed because 'Businesses do not want satisfied customers, nor do they simply want loyal customers; they are looking to hold and attract profitable customers' high repeat purchase and/or high margin customers'. MD David Holden says miniMAX ™ will help clients 'build strong, persuasive business cases, supported by robust data and insight'.
The model, which aims to 'minimise churn, maximise share', starts with research to identify service or product attributes that drive customer churn, retention and acquisition, plotting the relative importance of key service attributes as contributors to increasing profitability, and the client's performance on each. This is then integrated with information on the relative costs of improving the quality of service on each attribute tested, and the results combined with service performance measures and data provided by the client to build a comprehensive model of service and profitability improvement.
Holden Pearmain is online at www.holdenpearmain.com
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