Category Archives: Larry Freed

The ForeSee Summit is Moving

Las Vegas ForeSee Summit

We hope that for three days next year people can forget about the saying, “What happens in Vegas stays in Vegas,” and take what they learn at the 2014 ForeSee Summit and share it with their colleagues and executives across the board. That’s right…it is with bittersweet feelings that I am officially announcing the relocation of the ForeSee Summit to (drum roll, please) Red Rock Casino, Resort, and Spa in Las Vegas for 2014. So mark your calendars – April 29th to May 1st – for what is expected to be the biggest and best ForeSee Summit to date. Sure … Read More

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Innovation: Innovating Analytics Officially Released

Innovating Analytics

This day has been a long time in the making. And, boy, am I glad it is finally here. Today, we celebrate the official release of Innovating Analytics (Wiley & Sons), my second book, available on Amazon.com. While I talk a lot about the Net Promoter Score (NPS) and the ForeSee Word of Mouth Index (WoMI), it really comes down to one word: Innovation. The classic definition of innovation is introducing something new. From a practical business perspective, the word innovation has come to mean something more than that. Innovation is about change that is significant and positive, creating a … Read More

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5 Basic Forms of Customer Retention to Drive Success

Five Forms of Customer Retention to Drive Success

In an earlier post I wrote briefly about the 4 Drivers of Business Success as found in my book Innovating Analytics to be released this fall by Wiley & Sons. Since Customer Retention is so important, I decided to spend a little more time talking about it. Of course you can get a more detailed look at all of the drivers of business success, including customer retention, in the new book. Keeping your customers is a very important part of revenue growth. It is far easier than replacing them. Many businesses use the words retention and loyalty interchangeably. In business … Read More

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The Four Drivers of Business Success

There are four major drivers of business success.

In my forthcoming book, Innovating Analytics, I focus on the impact of word-of-mouth as a driver of business success and the best way to measure it, the ForeSee Word of Mouth Index (WoMI). Including word of mouth, there are four major drivers of business success with customers: Customer Retention: Keeping your current customers. Customer Upsell: Selling more to your existing customers. Marketing-Driven Customer Acquisition: Acquiring new customers via various marketing and advertising efforts. Word-of-Mouth-Driven Customer Acquisition: Acquiring new customers who are brought to your organization by the recommendations of others. In today’s ultracompetitive business environment, what I’ve called Accelerated Darwinism, … Read More

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Innovating Analytics

Innovating Analytics by Larry Freed

Taking into consideration all of the time, hard work, and energy that went in to completing my first book, Managing Forward (2011), I wasn’t sure there would be a second…at least anytime soon. I knew, however, once the right topic came along it would be difficult to resist. Needless to say, the right topic did come along and will hit bookshelves and e-shelves this fall in the form of Innovating Analytics (2013) published through prestigious Wiley & Sons. You can pre-order Innovating Analytics at Amazon.com. About Innovating Analytics This is a time of great change and great opportunity. The companies … Read More

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What Makes a Good Customer Experience Metric?

What makes a good customer experience metric?

What Makes a Good Customer Experience Metric? I’m asked this question a lot. And while we have written other posts related to the topic, I feel it’s necessary to revisit it every once in a while since it could be one of the most important question to ask when evaluating the need for measuring the customer experience, and researching the ways to do so. There are a lot of choices out there, ranging from the over-simplified to the extremely complex – neither of which are (or should be) considered criteria when evaluating customer experience metrics. It is important to understand … Read More

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100 Million Survey Responses and Counting

ForeSee collected 100000000 survey responses so far

As our business has grown over the years, so has the data we’ve collected, and ForeSee has reached an important milestone this year. While there were no fireworks or confetti canons to ring it in, on June 8th, we surpassed 100,000,000 survey responses collected.  And, yes, that’s eight zeroes. This staggering number includes surveys we’ve collected for all of our clients across all industries and touch points, including web, mobile, stores, and call centers. Last month alone we collected more than 1.5 million survey responses (online and offline) on behalf of our clients. As impressive as that is, it represents … Read More

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Mean-ingful Satisfaction

Satisfaction Measurement

As much as you might think it is, satisfaction is not binary. Customers don’t naturally fall into one of two slots: dissatisfied or satisfied. It would be a lot easier if they did, but they don’t. And we can’t (and shouldn’t) try to wedge them into a hole they don’t fit.  Not if we want to gain truly meaningful and actionable insights. The truth is, most customers fall somewhere on a spectrum ranging anywhere from very dissatisfied to very satisfied. And companies who say 85% of their customers are satisfied are really missing the point. Think about an experience, any … Read More

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E-Business Satisfaction Falls to Lowest Score in Decade

The 2013 ForeSee ACSI E-Business Update

Today, ForeSee released its commentary on the 2013 American Customer Satisfaction Index (ACSI) E-Business Report that measures customer satisfaction with the News and Information websites, Social Media websites and Search Engines and Portals. Read the full, free commentary here. E-business is how consumers connect with the world online. We get our news online. We connect with friends and network online. We share our thoughts and listen to what others have to say online. And if we’re searching for something specific, we just “Google” it. Through the years, the e-business sector as a whole has provided one of the more satisfying … Read More

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Common Measurement Mistakes: Volume 4

The ForeSee Blog Larry Freed Common Measurement Mistakes

Alas, the final volume of my “Common Measurement Mistakes” series – where I examine common mistakes people make when measuring the the customer experience – is here. This is a long but good one and I hope it helps you understand why measuring by proxy can be detrimental to business decision making. If you missed the first three installments of this series, you can read volume 1 here, volume 2 here, and volume 3 here. You should also look at past posts, Confusing Causation and Correlation and Confusing Measurement with Feedback, which are also common mistakes when measuring the customer … Read More

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