Hear Tim Keiningham, Global Chief Strategy Officer & Executive VP of Ipsos Loyalty, discuss why measuring share of wallet delivers actionable insights to grow your business.
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.
At Ipsos Loyalty we have always known attitude was important in terms of driving business outcomes but it was hard to prove. 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.
With WAO!, Ipsos Loyalty research provides a metric that truly helps understand and drive business results. Using WAO! immediately delivers a correlation to business results. 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.