Product Index

Product Index Highlights

Provide clubs with greater visibility of member usage and service area penetration
Recognition of purchasing patterns allows your club to streamline promotional strategies and business policies
Reporting options let you analyze information for the period and categories you choose
Identify and analyze trends for accurate analysis and informed response
Define transaction sources within each category to create meaningful calculations in accordance with your club's needs

AXIS Product Index provides several key Member Relationship Management (MRM) metrics that measure the breadth and depth of a member's relationship with your club. Product Index calculates detailed and aggregate scores for both membership households and individual members based on the volume and mix of product and service usage. When combined with the transaction counts and financial metrics provided by Lifetime Value (LTV), Product Index provides even greater insight into your members and their specific needs, and empowers you to respond appropriately.

The breadth value measures a client's level of engagement across business lines, and whether it's narrow or broad in scope. The depth value measures the extent to which the member uses the products and services within each club-defined business line. The greater the breadth and depth of a relationship, the less likely that the customer will look to other vendors to replace the products and services offered by your club. This often results in long-term loyalty, greater share-of-wallet and increased profitability. Using Product Index, your club can obtain, analyze, and manage these values (along with other metrics) to gain insight into the health of your business, the strength of your client relationships, and the success of various marketing initiatives.

These metrics can be applied in several ways:

Define corporate goals to increase Product Index values across specific or all business lines (increase breadth values) and across all or selected customer segments.
Personalize products and services within a specific business line to build deeper relationships with members (increase depth values).
Put initiatives in place to maximize cross-selling of under utilized business lines, products and services to members with low Product Index values (increase breadth and depth values).

With Product Index, your club is able to set up categories that define your specific lines of business and specify the products and services, or transaction sources (such as coverage codes, services utilized, or auto-renew) to include in these categories.

Breadth values are based on the occurrence of a product being purchased or service used within a category. Depth values are based on the number of purchase or service transactions within a category, regardless of product quantity or the dollar value of those transactions.

Depth and breadth information is available for both households and individuals, broken out by club-defined categories and across various time periods. Such information is available via multiple means including packaged AXIS reports, Make Your Own Report, PowerPlay (LTV, DBM and Renewal Analysis) and the Client LTV Inquiry.