Study initiated by Dr. Bob Hayes and powered by GMI develops new customer loyalty metrics designed to predict revenue growth from new and existing customers
Seattle, WA (PRWEB) September 12, 2007 -- Customer satisfaction measurement expert Dr. Bob Hayes of consulting firm Business Over Broadway today released the findings of a new study on consumer attitudes toward personal computer manufacturers. The study, powered by global market intelligence solutions provider GMI (Global Market Insite, Inc.), revealed that advocacy loyalty (recommending products or services to friends) was substantially higher than purchasing loyalty (purchasing more products from the same company), thus redefining the one-dimensional measurement of customer loyalty as a leading growth indicator as we know it today. The survey polled 1,058 U.S. consumers aged 18 and older in August 2007.
"Customer loyalty is the most important predictor of future revenue growth, but the industry is using an incomplete model," explains Hayes. "Current methods predict new customer growth, while completely ignoring existing customers. By measuring advocacy loyalty and purchasing loyalty simultaneously, companies have a complete picture of the strengths and weaknesses of their CRM strategy, allowing management to maximize potential revenue opportunities on all fronts."
Within the PC manufacturing industry, clear leaders emerge when using customer loyalty as a predictor of future revenue growth. In the research, Apple scored the highest loyalty, and is expected to experience the highest growth with both new and existing customers. HP came in second. Dell and Compaq tied for 3rd place. Dell is expected to have more new customers, but Compaq should have more repeat customers. Next came e-Machines, then Toshiba. Gateway is expected to show the slowest growth of all PC manufacturers studied.
"Leveraging online surveys and consumer panels to conduct a loyalty measurement study is a great way for a company to see how it stacks up against the competition, but that's just the first step," says Mark Houston, chief marketing officer for GMI. "The real power in this study is its ability to identify the areas most important to increasing each type of customer loyalty, so a business can allocate its resources where they will be most effective."
Other study findings include:
- The key driver of customer loyalty for the PC manufacturing industry as a whole is technical support quality (responsiveness, availability, knowledge, and understanding customer needs). Improving these key areas of technical support is likely to have a substantial impact on improving customer loyalty for PC manufacturers. Key drivers differed by PC manufacturer.
- Customers are more willing to sell their friends on the merits of their PC manufacturer than they are to spend more of their own money on their PC manufacturer.
- 88 percent of current PC owners are satisfied with their PC, with no difference between laptop owners vs. desktop owners.
Click here to download a complimentary executive summary of the study findings, and visit www.businessoverbroadway.com to learn more about the research behind Customer Loyalty 2.0.
About GMI
GMI (Global Market Insite, Inc.) is the only provider of integrated solutions for global market intelligence for market research firms and Global 2,000 companies. Solutions include market research software, desktop analysis tools, 24x7x365 service bureau, and one of the world's largest, highly profiled, double opted-in managed panels, providing reach to millions of consumers in more than 200 countries and territories. Founded in 1999 with world headquarters in Seattle, Wash., GMI has operations on five continents. In 2007, the company ranked #229 in Inc. Magazine's Inc. 500. For more information, please visit us online at www.gmi-mr.com or email us at info(at)gmi-mr.com.
About Business Over Broadway
Business Over Broadway (BOB) provides consultative services to help corporations gain superior customer insight through customer satisfaction and loyalty research. The company was founded by Bob E. Hayes, Ph.D., a recognized expert in customer satisfaction and loyalty measurement, and author of the best-selling book Measuring Customer Satisfaction. Dr. Hayes has conducted survey research for Siebel Systems, Agilent Technologies, CIGNA, and Cisco Systems. For more information, please visit www.businessoverbroadway.com, or contact us at info(at)businessoverbroadway.com.
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