Session Description:

Financial service providers have always struggled to fashion successful customer/asset retention strategies, and the current economic context has only heightened this struggle. Stemming customer and asset attrition has become paramount in the current economic climate. Attrition/defector research has traditionally lagged behind satisfaction and loyalty research in priority, and consequently has lagged in the application of advanced analyses. Market Probe will present a two-pronged approach, presenting cutting-edge approaches for developing surveys and analyzing in-house data regarding customer and balance attrition.

Advanced techniques applied to in-house datasets will provide insightful information about a customer segment’s lifespan and “likelihood to attrite.” Using methods from the medical arena, the Survival Analysis approach goes beyond the simple regression and logistical regression approaches of comparing defectors to retained customers at a single point in time. The various techniques in Survival Analysis use the entire dataset over time to compute a survival plot for each group of customers, thus allowing much more statistical power. We will present examples of various Survival Analyses using a large-bank dataset.

Surveys with defected or reduced asset customers have evolved over the past decade. Their usefulness and success are driven by careful sample definition and selection, questionnaires that assess relationship and product attrition, and drill-down analysis by the various defector segments. A review of the current state-of-the-art in defector surveys will be included.

This session is appropriate for senior financial services executives with responsibility for Retail Banking, Customer Attrition, Sales, Marketing, Market Research and Strategy Teams.

About Dr. Tom Fusso:
Dr. Fusso began his survey research career in 1980, and now designs & manages survey programs that assess defection/attrition, satisfaction & loyalty, employee equity, service/product/price configuration, market segmentation and brand power. These programs range from strategic studies with intense analytics and modeling to large-scale tracking programs with automated, web-based, unit-level reporting for thousands of units. He is head of Market Probe’s Services Division, and his teams work in the financial services, healthcare & benefit management, retail, utilities and member association sectors.


About Dr. Kurt Pflughoeft:
Dr. Pflughoeft has been with Market Probe since 1999 and oversees the corporate marketing science and data mining division. He leads an experienced team of senior statisticians at Market Probe. Kurt’s team ensures that the company can provide actionable information and recommend strategic initiatives for its global clients.

Kurt has a broad background in IT, statistics and marketing. He taught graduate-level courses in each area and has won several teaching and best paper awards. Dr. Pflughoeft has been a frequent presenter at market research conferences including the Sawtooth Software Conference and the AMA Advanced Research Techniques Forum.

Kurt earned a Ph.D. in Management Science from the University of Wisconsin-Milwaukee and continues teaching and researching with colleagues from Market Probe and his alma mater. He believes that the bridge between academic and industry research is the key for advancing knowledge within the market research community.


About Market Probe Inc.:
Market Probe was founded by Dr. T.R. Rao in 1976, a former University of Wisconsin professor specializing in marketing and statistics. By the mid-80’s, savvy corporations began to see greater value in customer satisfaction and service quality surveys. Market Probe responded with in-house data collection, cutting-edge statistical models & analyses, and automated reporting systems that generated customized information our clients could use to be more successful.

Market Probe concentrates on just three areas of stakeholder value: Customers, Employees and Brands. Our customer practice includes defector/attrition surveys, large-scale customer satisfaction tracking programs with automated, unit-level reporting, strategic relationship/loyalty surveys among key customer segments, and advanced data mining solutions. Our senior staff have authored three books on the topic of customer research that are published by the American Society of Quality (www.asq.org): Analysis of Customer Satisfaction Data, Linking Customer and Employee Satisfaction to the Bottom Line and Managing the Customer Experience.

It didn’t take us long to see the benefits of globalization and today our customer expertise reaches around the globe. We have full-service offices in the U.S., Canada, United Kingdom, Belgium, Dubai, Bahrain, India, Singapore and China. We operate CATI call facilities in the US, Canada, UK, Singapore, India and China. We have just been cited by Inside Research as the 2nd fastest growing global marketing research company based on prior 5-year global revenues.

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