Challenge
When a private equity firm acquired a consumer goods company, it wanted to increase existing customer loyalty and expand its customer base. The firm sought insight from customers at the newly acquired company to understand how successful a customer loyalty program might be and what loyalty offerings and reward structures would be most likely to drive and sustain membership.
The GLG Approach
GLG Surveys worked with the private equity firm to create a survey that would tap into the portfolio company's current and potential customer base across the United States.
GLG's team designed and executed a conjoint analysis survey to determine customer preference across different loyalty and rewards programs. The survey captured responses from hundreds of potential customers to uncover the best components to include in a program that would maximize and sustain customer loyalty.
Outcome
GLG's survey results highlighted differences in customer priorities across three distinct income groups. We also delivered a custom simulator that allowed the client to test fluctuations in customer preference with inclusion/exclusion of various program characteristics. Our client used the survey data and simulator to form a targeted market research plan with the portfolio company's internal team and build characteristics of highest interest to customers into its program.
