Ipsos Loyalty's WAO ! provides the ultimate link to business results. Finally your customer metrics will drive and predict your market gains !
WAO! was built on the foundation of our Ipsos Loyalty Thought Leadership piece in the October 2011 edition of the Harvard Business Review. The thinking behind this is so game-changing that we won the 2011 NextGen Disruptive Innovation Award for Wallet Allocation Optimizer. In fact the sponsor of the event predicted that WAO! would replace NPS.
Why game-changing ?
WAO! goes straight to the heart of why less than 1 in 20 companies achieve consistent business growth. Customer satisfaction and loyalty have been long touted as a route to achieve bottom-line results. However while they are useful metrics to set goals and incentivize your organization, satisfaction should not be used directly to drive financial performance. This also holds true for Recommendation (NPS) which correlates poorly with financial performance.
At Ipsos Loyalty we have always known attitude was important in terms of driving business outcomes but it was hard to prove. So we undertook a rigorous investigation to find out exactly how it works.
Now our extensive research into the matter has shown us the mechanism of how attitude drives share-of-wallet. Our R&D proves that it is not adequate to measure how you do in isolation of how your customers feel about your competition or other brands they use. WAO! shows us how the number of brands the customer uses, and how you rank within that set links directly to the share-of-wallet you can expect to get from them.
The heart of the matter is rank verus the competition matters.
With WAO!, Ipsos Loyalty research provides a metric that truly helps you to understand and drive your business results. Using WAO! immediately delivers a correlation to your share of wallet. The best news - you can adopt WAO! without completely overhauling your measurement system. WAO! is easy to integrate into traditional questionnaires and easy to change your current survey to capture competitive ratings for your key metric.
Our WAO! analysis follows a simple 3-step process that delivers actionable insights to show you how to increase your share-of-wallet. It gives you a validated link with real behavior so you can focus executive decisions on drivers of share of wallet growth.
Ipsos Loyalty knows how to link customer metrics to drive your gains in market share, and link customer metrics to share of wallet in your business. The answer is Wallet Allocation Optimizer – WAO !