What is a compass?
If you are using the term the way we do, compass refers to the process and set of techniques utilized for helping identify, dimensionalize, and prioritize customer loyalty, staff loyalty, and CRM program elements for optimum impact.
Our Customer Loyalty Compass is also known as the P.A.C.E. Process (for Prepare, Assemble, Comprehend, and Employ). Briefly, we first need to understand what a company currently knows about its customers, how information systems work within the organization, and what the company does with customer data. Next, in most instances, we must identify the elements of company performance, including strengths and weaknesses, emerging needs, registered and unregistered complaints, etc., as perceived by customers. Third, this anecdotal information and knowledge must be quantified so that loyalty models, and other support insight, can be developed and strategies can be prepared. Finally, the strategies are executed and any needed modifications are made to the programs.
So, the overall approach acts like a compass for achieving the highest level of customer loyalty possible.
For more information, check out searchCRM's Best Web Links on Customer Loyalty.
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