For the last fifty-three years, Frank N. Magid Associates has been carefully studying human behavior and how communication affects it. This understanding provides us with a unique customer lens through which we analyze and develop strategies that successfully change consumer attitudes and prompt behavioral change in a way that leads to optimized business performance. Leveraging this consumer perspective, Magid identifies the needs, attitudes, and behaviors of target markets to improve the customer experience from marketing and acquisition to retention and loyalty. Developing a customer strategy will enable clients to answer a number of questions, including:
- What attributes of the products/services are most important to the target market, and how do the client and its competitors satisfy each attribute?
- How can the client take advantage of market voids to increase customer acquisition?
- How can the client improve its products/services to align with customer needs and values and drive customer acquisition and retention?
- What type of loyalty program would be of greatest appeal, driving retention while being economically feasible?
An Insurance Company Selects Magid as a Strategic Partner to Provide Insights Regarding the Drivers of Consumer Loyalty
In order to maintain and grow its business amidst a crowded competitive environment and the fickle insurance consumer, a leading US insurance company partnered with Frank N. Magid Associates to better understand and improve customer loyalty. Magid implemented sophisticated statistical modeling to identify the drivers of preference and the products, services and messaging that could increase preference, all framed within the company’s key brand strengths. These insights provided actionable tools that increased customer acquisition and retention, and remain the pillars of the firm’s C-level strategy. As a result of the success of the strategy, Magid is considered a strategic partner and is invited to contribute formally and informally on all issues related to the company's customer, product, brand, media, and marketing strategy.