- Table View
- List View
Customer Loyalty Schemes in the Retail Sector
by Aldo Sesia Jose B. AlvarezCustomer loyalty schemes (or programs) are explicit efforts by retailers to gain long-term patronage from customers. Loyalty schemes are developed for a variety of reasons: to reward loyal customers, to generate more robust information about customer behavior, to influence consumer behavior, and as a defensive measure to combat a competing scheme. The purpose of this note is to describe the objectives of these schemes, including their origin and evolution; to highlight key aspects of their implementation; and to suggest approaches to maximize their impact. While this note focuses on the U.S. and U.K. retail sectors, most of its content is applicable to other economies.
Customer Magic – The Macquarie Way: How to Reimagine Customer Experience to Transform Your Business
by Joseph A. MichelliIt takes a special kind of magic for a challenger brand to achieve seemingly impossible customer-centric results. It' s that magic that makes Australian telecommunications company Macquarie Technology world leaders in award-winning customer experience. Joseph A. Michelli – the bestselling author of books about brands renowned for their stellar service and outstanding growth, such as The Ritz-Carlton, Mercedes-Benz and Starbucks – was so impressed by Macquarie' s ability to deliver transformative customer experiences that he felt compelled to write this book. Customer Magic is a practical, easy-to-read guide that, consistent with Macquarie' s commitment to delivering customer value, shares transferrable knowledge on how to identify and solve customer pain points; craft a compelling unique value proposition; attract, select, grow and retain customer service talent and subject matter expertise; set, measure, track and incentivise mission-critical business goals and customer-driven growth; innovate solutions that meet your customers' stated and unstated needs; and maintain a growth mindset and leave a legacy of success.
Customer Management Dynamics and Cohort Analysis
by Barak Libai Eitan Muller Elie OfekThe digital revolution has allowed companies to amass considerable amounts of data on their customers. Using this information to generate actionable insights is fast becoming a critical skill that firms must master if they wish to effectively compete and win in today's data-driven marketplace. This note explains the value of examining customer metrics, such as retention rate, revenues, and social influence (k-factor), on an ongoing basis by conducting a cohort analysis. Such an analysis segments customers using one or more criteria, and tracks the behavior and performance of each of these segments over time. Using several instructive examples, the presentation highlights the benefits of running a cohort analysis for deriving a deep understanding of customer trends. Moreover, the examples expose the pitfalls that arise from not accounting for segment characteristics (such as when a customer joined, from what media vehicle they were acquired, how heavily they use the product, etc.) and not paying attention to the evolution of customer metrics over time. The implications of conducting a cohort analysis for firm strategy and for determining customer lifetime value (CLV) are discussed.
Customer Management Processes
by Robert S. Kaplan David P. NortonCustomer management reflects much of what's new in modern business strategy. Whereas innovation and operations management processes remain important to strategic success, the evolution of computer and communications technology has shifted the balance of power from producers to customers. This chapter explores why understanding customers and the value proposition that attracts and retains them is fundamental to any strategy. A case study is included.
Customer Management Strategy in Business Markets
by Das NarayandasDescribes in detail customer management strategies in business markets, including selection decisions, design and management of customer relationship strategies, monitoring the health of customer relations, and linking the vendors' customer management effort to customer profitability.
Customer Mania!: It's Never Too Late to Build a Customer-Focused Company
by Jim Ballard Ken Blanchard Fred FinchCustomer service is the single most pressing problem for business managers and people in any service or sales operation, especially at the retail level. In fact, many experts believe that you build a business from the customer up. InCustomer Mania!, Ken Blanchard, one of America's biggest bestselling authors and inspiring business leaders, writes of the key to customer service -- creating a people-oriented, performance-driven, customer-first organization. Along with coauthors Jim Ballard and Fred Finch, Blanchard explains why the customer is the right starting place from which to build a successful business. By drawing on examples from the world's largest restaurant company, Yum! -- owner of KFC, Taco Bell, Pizza Hut, Long John Silver's, and A&W Restaurants -- the authors explain how any company, large or small, can develop a unified, people-first, customer-oriented culture. Packed with practical insights, Customer Mania! emphasizes four critical steps: Set Your Sights on the Right Target. The bottom line grows from taking care of customers and creating a motivating environment for your people. Treat Customers the Right Way. Determine the kind of experience you want your customers to have as they interact with every part of the company. Treat Employees the Right Way. Use strategies ranging from smart hiring to training and development to managing performance and creating a recognition culture. Build the Right Kind of Leadership. You can't do it all yourself, so let your people put their own brains to work and then support them all the way. By relying on these concepts, businesses everywhere can cultivate passionate and engaged team members who contribute to the company's overall success. From CEO to middle manager to the person facing the consumer,Customer Mania!is a vital tool for enhancing their experience -- and their customer's.
The Customer Marketing Method
by Jay Curry Adam CurryToday the hottest new area of marketing is Customer Relationship Management (CRM) -- the discipline of identifying, attracting, and retaining a company¹s most valuable customers. Drawing upon more than ten years of testing, tryout, and implementation in hundreds of companies, CRM expert Jay Curry, and his Internet-expert son, Adam Curry, have written a clear, step-by-step guide to profiting from this exploding movement, with strategies that are aimed at the small and medium-sized business owners who need them most. Jay Curry explains how CRM can help managers boost profits by implementing a customer-focused strategy. Using easy-to-understand graphics, he introduces the customer pyramid -- segmented as "Top," "Big," "Medium," and "Small" -- to help the reader visualize, analyze, and improve customer profitability. Success comes to those who follow this three-step Customer Marketing Strategy: (1) get new customers into your pyramid; (2) move customers higher into your pyramid; (3) keep the customers in the pyramid. Combining practical how-to directives with vital CRM reference information, the book includes a case study, "InterTech," that allows readers to see customer-focused strategy in action. The final third of this practical, easy-to-read book is devoted to the Internet. Here Adam Curry introduces the "Permission Pyramid" and the "e-Customer Marketing Pyramid" to explain the nature of "virtual customer relationships" and how to use them to create, keep, and upgrade customers. This section includes mini-cases and tips to help managers use the Internet to complement current marketing and sales activities and ends with guidelines to test out the new paradigms of e-commerce. Throughout The Customer Marketing Method, the emphasis is always on practical steps to "make it happen." It is essential and timely reading for owners of small and medium-sized businesses as well as managers of small business units within larger firms.
Customer Obsessed: A Whole Company Approach to Delivering Exceptional Customer Experiences
by Eric BerridgeOptimize the customer experience via the cloud to gain a powerful competitive advantage Customer Obsessed looks at customer experience through the lens of the cloud to bring you a cutting-edge handbook for customer experience. Cloud technology has been hailed as a game-changer, but a recent IDC report shows that it accounts for less than three percent of total IT spending; why are so many companies neglecting such an enormous asset? This book provides a high-level overview of how the cloud can give you a competitive advantage. You'll learn how to integrate cloud technology into sound customer experience strategy to achieve unprecedented levels of success. More than just a state-of-the-field assessment, this book offers a set of concrete actions you can take today to leverage cloud computing into technical innovation and better business outcomes at all levels of your organization. You'll examine the many factors that influence the customer experience, and emerge with the insight to fine-tune your approach using the power of the cloud. What kind of advantage is your company leaving on the table? This book guides you through the key drivers of customer success to help you optimize your approach and leverage the future of global technology. Learn the keys to competitive advantage in the digital era Gain insight into each element that affects customer experience Harness the power of the cloud to achieve customer success Follow a prescriptive framework for optimizing customer experience We are in the golden age of IT innovation, but the majority of companies haven't even adopted cloud technology, much less begun to utilize its full business capabilities. Jump into the gap now, and reap the benefits as other struggle to catch up. Customer Obsessed gives you the guidance you need to achieve sustainable success in today's digital world.
The Customer of the Future: 10 Guiding Principles for Winning Tomorrow's Business
by Blake MorganTomorrow’s customers need to be targeted today!With emerging technology transforming customer expectations, it’s more important than ever to keep a laser focus on the experience companies provide their customers.In The Customer of the Future, customer experience futurist Blake Morgan outlines ten easy-to-follow customer experience guidelines that integrate emerging technologies with effective strategies to combat disconnected processes, silo mentalities, and a lack of buyer perspective.Tomorrow’s customers will insist on experiences that make their lives significantly easier and better. Companies will win their business not by just proclaiming that customer experience is a priority but by embedding a customer focus into every aspect of their operations. They’ll understand how emerging technologies like artificial intelligence (AI), automation, and analytics are changing the game and craft a strategy to integrate them into their products and processes.The Customer of the Future explains how today’s customers are already demanding frictionless, personalized, on-demand experiences from their products and services, and companies that don’t adapt to these new expectations won’t last. This book prepares your organization for these increasing demands by helping you do the following:Learn the ten defining strategies for a customer experience–focused company.Implement new techniques to shift the entire company from being product-focused to being customer-focused.Gain insights through case studies and examples on how the world’s most innovative companies are offering new and compelling customer experiences.Craft a leadership development and culture plan to create lasting change at your organization.
The Customer of Tomorrow: Strategies for Keeping Pace with Rapidly Changing Behaviors, Technologies, and Expectations (Knowledge@Wharton Essentials)
by Barbara E. Kahn Knowledge WhartonWith consumer decisions being made at increasing speed, and the time it takes to win wallet-share rapidly shrinking, how can you prepare?Today's customer has more access to information and influencers, at a click or swipe, than ever before. The speed at which consumer decisions are made keeps increasing, and the time it takes for battles over wallet-share to be won or lost is shrinking rapidly. Every fundamental assumption about customers is now being challenged: how they shop, where they shop, and why they shop. In this rapidly evolving environment, understanding consumers' behaviors is more critical than ever.The Customer of Tomorrow examines many of the changing behaviors, technologies, and expectations that companies must understand in order to build valuable and lasting relationships in the years to come. Drawn from the best of Knowledge@Wharton's reporting, this volume in the Knowledge@Wharton Essentials series features stories addressing:Customer loyalty in the age of big dataWhen more data doesn't mean better customer serviceHow to build loyal customers in the information ageWhy customer service is often the ignored side of social mediaWhen does it make sense to have a bricks & mortar location for customersHow to bring in new customersThis quick read features Knowledge@Wharton's reporting on the research and thought leadership of David Bell, Peter Fader, Barbara Kahn, among others. The Customer of Tomorrow will help you continue to win wallet-share with customers.About Knowledge@Wharton BooksInsights and inspiration business leaders can use today-from The Wharton School's online journal of business analysisKnowledge@Wharton Books offer you the signature reporting that Knowledge@Wharton readers have come to expect, including in-depth coverage and analysis of important business trends, accessible explanations of the latest business research, and inspiring conversations with today's thought leaders.Published exclusively as ebooks by Wharton Digital Press, this practical line of books includes two series:Knowledge@Wharton Originals: All-new, in-depth coverage of a timely important and business matter or trend, featuring key takeaways that business leaders and professionals can leverage immediatelyKnowledge@Wharton Essentials: Collects the best of Knowledge@Wharton's reporting on a single topic of significant business concern, laying out the challenges and offering solutionsEach Knowledge@Wharton ebook offers you what you need to address a business challenge or opportunity head on-today.
A Customer-oriented Manager for B2B Services: Principles and Implementation
by Valerie MathieuThe notion of customer orientation is becoming a necessity rather than a choice for many companies. It is a lasting response to competitive pressure and supports the company in a renewed definition of its mission, beyond direct economic gain. Within B2B services, the manager, through proximity to their team, their market and their client, is the essential actor in the deployment of this orientation.A Customer-oriented Manager for B2B Services provides managers with the knowledge and tools necessary to implement customer orientation themselves, with the involvement of their extended team. To this end, this book presents a four-step approach: understand the fundamentals of customer orientation in B2B services, know the customer, make the most of the offer and deliver the service.
Customer Perspective
by Robert S. Kaplan David P. NortonIn the customer perspective of the Balanced Scorecard, companies identify the customer and market segments in which they have chosen to compete. These segments represent the sources that will deliver the revenue component of the company's financial objectives. This chapter illustrates how the customer perspective enables companies to align their core customer outcome measures--satisfaction, loyalty, retention, acquisition, and profitability--to targeted customers and market segments, and to identify and measure the value propositions being delivered to these segments. This chapter was originally published as chapter 4 of "The Balanced Scorecard: Translating Strategy into Action."
Customer Portfolio Management: Creating Value with a Large Leaky Bucket of Customers (Management on the Cutting Edge)
by Fred Selnes Michael D. JohnsonHow to create value with all the customers in a portfolio, from the stronger relationships that increase profit margins to the weaker relationships that increase scale.Which would you rather have: a smaller, watertight bucket of loyal customers or a larger leaky bucket of both loyal and not-so-loyal customers? In Customer Portfolio Management, Fred Selnes and Michael Johnson argue that for most companies and organizations the larger leaky bucket is more valuable. While loyal customers are generally more profitable, the weaker, or &“leaky,&” relationships in a portfolio provide scale economies and a source of future loyal customers. The basic principle behind customer portfolio management (CPM), they explain, is to view a company&’s market strategies as long-term investments in the strength of relationships over an entire portfolio of current and future customers.This book helps business leaders understand when and how much to focus on acquiring customers, how to defend and leverage those relationships, and how to convert some of these relationships into stronger, more profitable ones. The authors present an implementable framework for CPM that involves:segmenting customers into strangers, acquaintances, friends and partners;understanding the lifetime value, or revenues and costs over time, across relationship segments; anddetermining when and how much to invest in customer acquisition, relationship defense, relationship leverage, and relationship conversion.Case studies and examples that include Amazon, Apple, IKEA, and dozens of other companies are used along the way to illustrate effective portfolio management principles and growth strategies.
Customer Profitability and Customer Relationship Management at RBC Financial Group
by V. G. Narayanan Lisa BremThe Royal Bank of Canada uses customer relationship management and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market. The case presents two pricing and customer management issues: one from the point of view of the vice president of customer relationship marketing and the other from a line manager's perspective.
Customer Profitability and Customer Relationship Management at RBC Financial Group (Abridged)
by V. G. Narayanan Lisa BremThe Royal Bank of Canada uses customer relationship management and customer profitability tools to gain a competitive advantage in Canada's increasingly crowded financial services market. The case presents two pricing and customer management issues: one from the point of view of the vice president of customer relationship marketing and the other from a line manager's perspective.
Customer Profitability and Lifetime Value
by Elie OfekIntroduces the central concepts involved in determining customer lifetime value, with detailed analysis and examples from the realm of direct marketing. Implications for marketing strategy and customer relationship management are briefly discussed.
Customer Relationship Management: The Foundation of Contemporary Marketing Strategy
by Roger J. Baran Robert J. GalkaThis book balances the behavioral and database aspects of customer relationship management, providing students with a comprehensive introduction to an often overlooked, but important aspect of marketing strategy. Baran and Galka deliver a book that helps students understand how an enhanced customer relationship strategy can differentiate an organization in a highly competitive marketplace. This edition has several new features: Updates that take into account the latest research and changes in organizational dynamics, business-to-business relationships, social media, database management, and technology advances that impact CRM New material on big data and the use of mobile technology An overhaul of the social networking chapter, reflecting the true state of this dynamic aspect of customer relationship management today A broader discussion of the relationship between CRM and the marketing function, as well as its implications for the organization as a whole Cutting edge examples and images to keep readers engaged and interested A complete typology of marketing strategies to be used in the CRM strategy cycle: acquisition, retention, and win-back of customers With chapter summaries, key terms, questions, exercises, and cases, this book will truly appeal to upper-level students of customer relationship management. Online resources, including PowerPoint slides, an instructor’s manual, and test bank, provide instructors with everything they need for a comprehensive course in customer relationship management.
Customer Relationship Management
by Francis ButtleCustomer Relationship Management: Concepts and Tools is a breakthrough book that makes transparent the complexities of customer relationship management. The book views customer relationship management as the core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit. Customer relationship management is grounded on high quality customer data and enabled by information technology. The book is a comprehensive and fully developed textbook on customer relationship management . Although, it shows the roles of customer data and information technology in enabling customer relationship management implementation, it does not accept that customer relationship management is just about IT. Rather it is about an IT- and data-enabled approach to customer acquisition, customer retention and customer development.Because customer relationship management is a core business strategy the book demonstrates how it has influence across the entire business, in areas such as strategic, marketing, operations, human resource, and IT management. Customer relationship management 's influence also extends beyond the company to touch on partner and supplier relationships. An Instructor's PowerPoint pack is available to lecturers who adopt the book. Accredited lecturers can download this by going to http://books.elsevier.com/manuals'isbn=075065502X to request access.
Customer Relationship Management: Concepts and Technologies (Financial Times Ser.)
by Francis Buttle Stan MaklanCustomer Relationship Management, Fourth Edition continues to be the go-to CRM guide explaining with unrivalled clarity what CRM is, its uses, benefits and implementation. Buttle and Maklan take a managerial perspective to track the role of CRM throughout the customer journey stages of acquisition, retention and development. Theoretically sound and managerially relevant, the book is liberally illustrated with examples of technology applications that support marketing, sales and service teams as they interact with customers, but assumes no deep technical knowledge on the reader’s part. The book is structured around three core types of CRM – strategic, operational and analytical – and throughout each chapter, case illustrations of CRM in practice and images of CRM software demystify the technicalities. Ideal as a core textbook for advanced undergraduate and postgraduate students on CRM or related courses such as relationship marketing, digital marketing, customer experience management or key account management, the book is equally valuable to industry professionals, managers involved in CRM programs and those pursuing professional qualifications or accreditation in marketing, sales or service management. NEW TO THIS EDITION: New and updated international case illustrations throughout New and updated screenshots from CRM applications Fully updated to reflect the evolving CRM landscape, including extended coverage of: Big data and its influence on CRM Artificial intelligence (AI) Advances in CRM analytics The relationships between CRM and customer experience management The role of social media in customer management strategy Real-time marketing Chatbots and innovative customer self-service Privacy and data security Updated lecturer support materials online
Customer Relationship Management: A Global Approach
by Samit ChakravortiCustomer Relationship Management: A Global Approach provides a uniquely global, holistic, strategic and tactical grounding in managing customer and other stakeholder experiences and relationships across the value chain, cultures and countries. Reflecting the global structures of companies operating today, the author draws on his research knowledge alongside industry and teaching experience to connect Customer Relationship Management (CRM) core concepts, processes and strategies with international business opportunities and challenges, including globalization and cross-cultural marketing. Emphasis is placed on the need for developing cross-cultural skills and cultural intelligence for identifying and fulfilling cross country CRM opportunities, through analytical, strategic, operational and social CRM projects. Written in an accessible style throughout, the eleven chapters provide ample depth to support a full course related to CRM, spanning: · CRM foundations · planning and implementation · managing stakeholder relationships · improving global CRM implementation Wide-ranging case studies include: Royal Bank of Scotland, the Nike hijab, Instagram, HubSpot and the pharmaceutical industry in India. The text will appeal to advanced undergraduate and graduate students studying CRM, Relationship Marketing and International Marketing, as well as CRM and marketing practitioners. Samit Chakravorti is an Associate Professor of Marketing at Western Illinois University in the United States.
Customer Relationship Management: A Global Approach
by Samit ChakravortiCustomer Relationship Management: A Global Approach provides a uniquely global, holistic, strategic and tactical grounding in managing customer and other stakeholder experiences and relationships across the value chain, cultures and countries. Reflecting the global structures of companies operating today, the author draws on his research knowledge alongside industry and teaching experience to connect Customer Relationship Management (CRM) core concepts, processes and strategies with international business opportunities and challenges, including globalization and cross-cultural marketing. Emphasis is placed on the need for developing cross-cultural skills and cultural intelligence for identifying and fulfilling cross country CRM opportunities, through analytical, strategic, operational and social CRM projects. Written in an accessible style throughout, the eleven chapters provide ample depth to support a full course related to CRM, spanning: · CRM foundations · planning and implementation · managing stakeholder relationships · improving global CRM implementation Wide-ranging case studies include: Royal Bank of Scotland, the Nike hijab, Instagram, HubSpot and the pharmaceutical industry in India. The text will appeal to advanced undergraduate and graduate students studying CRM, Relationship Marketing and International Marketing, as well as CRM and marketing practitioners. Samit Chakravorti is an Associate Professor of Marketing at Western Illinois University in the United States.
Customer Relationship Management: Concept, Strategy, and Tools (Springer Texts in Business and Economics)
by V. Kumar Werner ReinartzCustomer relationship management (CRM) as a strategy and as a technology has gone through an amazing evolutionary journey. The initial technological approach was followed by many disappointing initiatives only to see the maturing of the underlying concepts and applications in recent years. Today, CRM represents a strategy, a set of tactics, and a technology that have become indispensible in the modern economy.This book presents an extensive treatment of the strategic and tactical aspects of customer relationship management as we know it today. It stresses developing an understanding of economic customer value as the guiding concept for marketing decisions. The goal of the book is to serve as a comprehensive and up-to-date learning companion for advanced undergraduate students, master's degree students, and executives who want a detailed and conceptually sound insight into the field of CRM.
Customer Relationship Management: Concepts and Technologies
by Stan Maklan Francis ButtleCustomer Relationship Management Third Edition is a much-anticipated update of a bestselling textbook, including substantial revisions to bring its coverage up to date with the very latest in CRM practice. The book introduces the concept of CRM, explains its benefits, how and why it can be used, the technologies that are deployed, and how to implement it, providing you with a guide to every aspect of CRM in your business or your studies. Both theoretically sound and managerially relevant, the book draws on academic and independent research from a wide range of disciplines including IS, HR, project management, finance, strategy and more. Buttle and Maklan, clearly and without jargon, explain how CRM can be used throughout the customer life cycle stages of customer acquisition, retention and development. The book is illustrated liberally with screenshots from CRM software applications and case illustrations of CRM in practice. NEW TO THIS EDITION: Updated instructor support materials online Full colour interior Brand new international case illustrations from many industry settings Substantial revisions throughout, including new content on: Social media and social CRM Big data and unstructured data Recent advances in analytical CRM including next best action solutions Marketing, sales and service automation Customer self-service technologies Making the business case and realising the benefits of investment in CRM ? Ideal as a core textbook by students on CRM or related courses such as relationship marketing, database marketing or key account management, the book is also essential to industry professionals, managers involved in CRM programs and those pursuing professional qualifications or accreditation in marketing, sales or service management.
Customer Relationship Management: Concepts, Applications and Technologies
by Stan Maklan Francis Buttle Daniel D. PriorThis highly regarded textbook provides the definitive account of Customer Relationship Management (CRM) concepts, applications, and technologies, focusing on how companies can create and maintain mutually beneficial relationships with customers.Readers will gain a thorough understanding of the conceptual foundations of CRM, see CRM in practice through illustrative case examples and exercises, and understand how to organise customer data gathering, analysis, and presentation for decision making. The book achieves these outcomes by first considering strategic CRM before moving into operational CRM and, finally, onto analytical aspects of CRM. The fifth edition has been fully updated to include: A series of new case examples to illustrate CRM within various regional and industrial contexts, including those relevant to large, medium, and small enterprises A series of new exercises and discussion questions to help readers understand CRM concepts and to support pedagogical processes, particularly in higher education environments A greater emphasis on managerial applications of CRM through new content to help guide managers An updated account of new and emerging technologies relevant to CRM Expanded coverage of customer experience (CX), customer engagement (CE), and customer journey management (CJM) Customer Relationship Management is essential reading for advanced undergraduate and postgraduate students studying CRM, Sales Management, Customer Experience Management, and Relationship Marketing, as well as executives who oversee CRM functions. Online resources include an Instructor’s Manual, chapter-by-chapter PowerPoint slides, and a bank of exam questions.
Customer Relationship Management: Concepts And Technologies
by Adrian Payne Stan Maklan Joe Peppard Lynette Ryals Simon KnoxCustomer Relationship Management presents a ground-breaking strategic framework for successful CRM policy. Built around Professor Payne's five key processes, the book demonstrates a systematic management progression that will guarantee the maximum impact and efficiency of a CRM programme.The book backs up these five processes - strategy development, value creation, channel and media integration, information management and performance assessment - with 16 best practice case studies which set the universal theory in a specific practical context. These feature a range of companies, including Orange, Brittania, Homebase, Canada Life, Sun Microsystems, Natwest, Sears, Roebuck & Co., Nortel Networks and Siemens. The book concludes with interviews from four thought leaders, offering a 'futures' vision forum for CRM.Customer Relationship Management is a vital instrument for anyone who needs to know how to develop and measure effective CRM within an organization. It includes overviews and key learning points preceding each case study, and a summary chapter to draw out the most salient lessons from CRM best practices. For practitioner or academic alike, this is essential reading.