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What is A Good Experience Really Worth? Using Conjoint Analysis to Quantify the Value of Customer Service

John Mitchell, President and Managing Principal of Applied Marketing Science (AMS), is speaking at the 2016 Corporate Researchers Conference on September 26-28, 2016 in San Francisco. John will be joined by Wayne Huang, Research Manager of Twitter, in their presentation "What is A Good Experience Really Worth? Using Conjoint Analysis to Quantify the Value of Customer Service." The talk will be based on the results of a recent conjoint analysis research study conducted by AMS on behalf of Twitter, Inc. focusing on customer interactions between airlines and their customers.

See a brief description of the presentation below.

Customer service comes in many forms, including phone, email, tweets, and in‑person. Typically, to measure the impact of each channel, companies measure changes in NPS, re‑purchase intent, or through brand equity attributes. But few companies, if any, have quantified the impact of customer service on future willingness to pay.

Working with Applied Marketing Science, Twitter uses a new twist on a classic method – the conjoint survey. By analyzing completed choice tasks from respondents, they were able to quantify the dollar value of customer service interactions, including how both speed and the quality of customer service interactions then affected willingness to pay.

The results, recently featured in AdWeek, favor Twitter’s hypothesis – better, faster customer service increases willingness to pay. The team is extending the research into new categories to further determine how service creates customer value.

You'll learn:

• Evidence shows that better customer service increases willingness to pay in a meaningful and quantifiable way
• Evidence also shows that fast responses to customer service requests—for which Twitter is a perfect platform—dramatically improves brand value
• Choice-based approaches are often a better way of measuring the value of customer experience than direct-questioning approaches like stated repurchase intent or Net Promoter Score™
• Integrating conjoint data with existing “big data” helps replace stated behavior with actual behavior
• A lightweight, mobile-friendly conjoint approach yields results quickly and inexpensively
Learn how Twitter used a conjoint experiment to prove the financial value of delivering fast responses to customer service requests through its platform.

Tuesday, Sep. 27, 2016
9:45am to 10:30am PDT

For more information, visit MarketingResearch.com

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