Loyalty Programs in CRM for Term Paper

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One excellent way to cut through the inflated metrics is to have customers actually define their level of sat5isfaction with the programs at an experiential level using SERVQUAL or any other number of research methodologies and programs (Norton, Pine, 2009). It is also critically important to have the metrics of participation coordinated with the financial metrics to ensure a high level of accountability is achieved and auditability of results as well (Murthi, Steffes, Rasheed, 2011). Often the most vocal opponents of any customer loyalty program point to the lack of traceability back to sales results and program development leading to actual sales and profits (Murthi, Steffes, Rasheed, 2011). It is best to anchor these two attributes together and have complete transparency and authenticity about what is going on in the customer loyalty program to ensure its success (Norton, Pine, 2009).

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Conclusion

Customer loyalty programs can significantly increase profitability of a company by sustaining and strengthening lifetime customer value (Ou, Shih, Chen, Wang, 2011). For Time-Warner the program must be easily tracked by customers and also easily administered, ensuring clarity of communication in the process. When all of these elements come together, Time Warner will be able to gain greater CLV and increased profitability as a result. Measuring these programs and marketing their results internally will also do much to alleviate the negative opinions within the company as well......

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