This is the third webcast in the Insights and Innovations for Hospitality & Gaming webcast series, which highlights hot topics in the hospitality and gaming industry, including data quality, labor planning, customer loyalty, sustainability, and more.
In the current economy, Customer Relationship Management has taken center stage. Many hospitality and gaming businesses include a loyalty program as part of customer relationship management. But answers regarding the best way to manage these reward programs and whether they actually work remain elusive.
One of the key benefits of loyalty programs is that it allows the firm to identify and track their most valuable customers. Striking a balance between improving the customer experience and controlling costs can be challenging. A comprehensive customer lifetime value (CLV) calculation method helps firms ensure the long-term economic stability of the company by using fact based decision making to balance all of these objectives.
In this webcast, you will discover what your reward program does for you – particularly whether it buys loyalty or simply adds costs without securing repeat patronage. You will also learn the components of a sound CLV methodology and strategies to implement such a methodology in your firm.
This webcast panel will address questions of:
- How should your reward program work and what does it actually accomplish?
- What are some of the key drivers to a successful program?
- Where are the pitfalls and what should you make sure is included in your loyalty program?
- What are common misconceptions about managing loyalty programs?
- What are the components of customer lifetime value calculations?
- How can you develop a customer lifetime value calculation methodology?
About Michael McCall, David Ogden
Michael McCall professor of marketing and law at Ithaca College, is the Visiting Scholar in the School of Hotel Administration, and a Research Fellow of the Cornell Center for Hospitality Research. He’s published more than 40 academic articles and taught various marketing courses in the areas of marketing services, pricing and consumer behavior.
His primary research program focuses on the role of customer reward programs in creating customer loyalty, rebate programs, and perceptions of value among competing hospitality and service products. Dr. McCall earned his Ph.D. in experimental and applied social psychology from Arizona State University.
David Ogden has two decades of experience in programming and statistical modeling at SAS. He also has significant experience in operations and financial analysis, database marketing, and acquisition and retention strategy.
Ogden has designed solutions in a diverse range of industries including health sciences, online video entertainment, television and DSL providers, and financial and tax services. His analytical solutions assist customers with business challenges including evaluating investment strategies, early identification of network and system trouble spots, strategic cost management, long-range economic modeling, process improvements, activity-based costing and customer segmentation.
Prior to his consulting and corporate experience, Ogden taught college mathematics and statistics at Wichita State University.
