Data Collection
Typically, loyalty data is being collected by multi-item measurement scales administered in questionnaires. However, other approaches sometimes seem more viable if managers want to know the extent of loyalty for an entire data warehouse. This approach is described in Buckinx, Verstraeten & Van den Poel (2006).
All historical trends for different segmentations and their standard of living may also be very helpful in developing customer retention strategy. Lifestyle is also a very powerful tool, can be used for better customer retention and to know his/her needs in better way.
Read more about this topic: Loyalty Business Model
Famous quotes containing the words data and/or collection:
“Mental health data from the 1950’s on middle-aged women showed them to be a particularly distressed group, vulnerable to depression and feelings of uselessness. This isn’t surprising. If society tells you that your main role is to be attractive to men and you are getting crow’s feet, and to be a mother to children and yours are leaving home, no wonder you are distressed.”
—Grace Baruch (20th century)
“Bolkenstein, a Minister, was speaking on the Dutch programme from London, and he said that they ought to make a collection of diaries and letters after the war. Of course, they all made a rush at my diary immediately. Just imagine how interesting it would be if I were to publish a romance of the “Secret Annexe.” The title alone would be enough to make people think it was a detective story.”
—Anne Frank (1929–1945)