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The model is aimed at helping businesses successfully identify loyalty drivers and drive customer retention
Nihilent, a global consulting and solutions integration company, has announced the launch of a complete service based on its newly patented Customer Loyalty Evaluation (CLE) model. The patent titled ‘System for Evaluating Customer Loyalty’ is aimed at helping businesses successfully identify loyalty drivers and drive customer retention. The CLE model is developed to make customer loyalty measurable and predictable. It determines an index for loyalty termed as the Predictive Loyalty Index (PLI). Within the next few weeks, CLE is being further incorporated into a web-based tool named “14signals” for Micro, Small & Medium Enterprises (MSMEs), which will be collaborated by Nihilent’s consulting practice.
“Conventional customer loyalty surveys invariably capture the superficial and on-the-moment mindset of the customer without attempting to uncover facets of the promised experience or the insight into what the customer is really expecting. With these surveys, it is practically impossible to predict the future course of action of the customer,” said LC Singh, CEO of Nihilent.
“CLE is based on the analysis of the experience of the customers in comparison with their expectations for a service. Through our new patent, which we believe is the first in the category worldwide, businesses can calculate the PLI of customers, forecast trends and preferences over a period, track areas of improvements, and identify the opportunities for innovation”, he added.
Nihilent has partnered with the Indian Statistical Institute (ISI) for their expertise in delivering detailed and valuable findings using a wide range of statistical analysis methods. Nihilent plans to publish loyalty benchmark reports for various industries that will help companies to benchmark theirs own against the industry. Speaking at the launch, Prof. Subrata Rath, Head - Statistical Quality Control and Operations Research (SQC & OR) Unit of ISI, Pune said, “CLE lets you design a customized customer loyalty survey for your organization and creates an index to benchmark from. Its innovative and scientific model helps establish and track performance based on the critical elements found to drive loyalty.”
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