Welcome to our inaugural blog on Customer Feedback Analysis; our team will be reviewing the current literature in the customer loyalty/customer experience space and will share key findings and applications of the work. I will introduce our team and will talk a little about what we plan to do in this blog.
I’m Mark Ratekin; one of my roles at Walker is to work with our clients’ data to demonstrate the statistical links between customer loyalty and various financial outcomes that firms track. We have found that one of the keys to encouraging action on our research is to be able to link the data to hard financial outcomes. Over time, we’ve developed a number of methods to articulate these linkages to tailor the analysis to the specific business need of the client.
I am joined in this journey by my friends and colleagues Dr. Troy Powell and Amy Heleine. Amy leads our team that conducts the core statistical analyses for Walker clients, and Troy works with our clients on more advanced analytics such as predictive modeling, data mining, and customer profiling. Both bring a wealth of academic and real-world experience to this blog, and I am happy to be working with them. In addition to the regular contributors we will include postings from a number of guest contributors to keep fresh voices and ideas in the blog.
Why are we blogging on this topic? There are a number of reasons – first, there is a growing body of literature in the area of customer loyalty/customer experience, and we are uniquely positioned to review this information on behalf of our clients and other interested readers. Think of this as the “we’ll do the work, so you don’t have to” reason for this blog.
The second reason for blogging on this topic relates to a phenomenon we see in the marketplace. There are two schools of thought emerging in the customer loyalty space – the first says that analytics don’t really provide much insight (these are the people who espouse the virtues of using single metrics as the sole proxy for the customer experience), while the second says that analytics are king. While we are more closely aligned with the latter opinion, we humbly suggest that analytics without action simply represent difficult-to-comprehend math. It is, therefore, imperative that any research have a practical application and be accessible to any practitioner who analyzes or manages customer feedback – and this is our goal.
We will not only review key academic work in the customer loyalty space, but we will also discuss the practical implications of the research and provide some food for thought on how you might use the findings to enhance your own customer loyalty efforts. Any good blog, though, should have a level of dialogue with the readers; we hope that you will chime in with your experiences and ask questions along the way. We pledge to respond to every question in a timely and thoughtful manner. We hope you will join in the conversation; please share your comments and suggestions with us by adding comments to specific posts or sending email to email@example.com.