New York, NY – Companies spend billions of dollars each year measuring and managing metrics like customer satisfaction and Net Promoter Score to improve customer loyalty. But the problem with this is that such metrics correlate poorly with what matters most: share of wallet. To fill this need, Ipsos Loyalty experts have created a simple formula that managers can use to determine the share of wallet that customers allocate to their brands, and have penned a book that delves into the subject. The company is inviting selected media to join for a ‘sneak peek’ webinar revealing key insights from the book on January 13, 2015 at 1:30pm EST.
The Wallet Allocation Rule, a soon to be published book written by Ipsos Loyalty's Global Chief Strategy Officer, Timothy Keiningham (co-authored with Lerzan Aksoy, Luke Williams, and Alexander Buoye) presents a revolutionary approach for winning the battle for share of customers' hearts, minds and wallets. It is backed by science and based on recently published work in the Harvard Business Review and MIT Sloan Management Review.
“Our goal in writing this book was to make efforts to improve customer satisfaction and loyalty pay dividends by giving marketers a tool that we have proved works,” says Keiningham. “We strongly believe that companies that apply the Wallet Allocation Rule can distinguish themselves in the eyes of both their customers and their shareholders.”
The Wallet Allocation Rule convincingly debunks commonly held beliefs about the merits of conventional satisfaction and loyalty metrics, and offers a simple yet powerful alternative for capturing and capitalizing on how customers actually allocate their spending among competing brands. It not only explains why the rule works, but shows it in action in a number of industries and how companies can make it happen for their business.
“The Wallet Allocation Rule is at once a profound, award-winning Harvard Business Review–published thought leadership and a return to the fundamentals of business success from which managers stray at their peril,” adds Henri Wallard, Chairman with Ipsos Loyalty. “The practical principles detailed in this book provide managers with the tools they need to win where it counts most—in their customers’ spending.”
The book is available for purchase February 2015 from John Wiley & Sons, or by pre-order on Amazon now: http://www.amazon.com/The-Wallet-Allocation-Rule-Winning/dp/111903731X
For more information about The Wallet Allocation Rule, visit: http://www.ipsos-na.com/knowledge-ideas/loyalty/books/?q=the-wallet-allocation
To register for the webinar, visit: http://www.ipsos-na.com/knowledge-ideas/events/media-only-webinar-wao-rule.aspx
For more information on this news release please contact:
Director, Marketing Services
Ipsos in North America
Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.
With offices in 86 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.
Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.
Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,712,4 million (2 274 M$) in 2013.
Visit www.ipsos.com to learn more about Ipsos’ offerings and capabilities.