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Customer Relationship Management |
CRM
is getting a lot of attention among popular management concepts today.
Yet, many companies admit that their investments in this arena have
been disappointing. Looking back on their experience in recent years,
the authors of Customer Relationship Management
identify the underlying reasons for these failures. Among these are
the fact that companies often confuse the tool with strategy, underestimate
the scope of change required, etc. The book offers highly practical
advice on how to avoid these traps and exploit the full potential of
initiatives designed to personalize customer relationships.
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imon
Knox, Stan Maklan, Adrian Payne, Joe Peppard and Lynette Ryals |
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Commitment-Led Marketing |
Customer
satisfaction is one of the principal indicators tracked by marketing.
Yet, Commitment-Led Marketing shows that the
correlation between satisfaction and loyalty is actually very weak.
The authors hold up “brand commitment” as a much better indicator
of future purchasing behavior. Companies are encouraged to use commitment
to segment the market. This segmentation is then suggested as an ideal
framework upon which to hang marketing strategy and allocate marketing
budgets, particularly with regard to communication.
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Jan
Hofmeyr et Butch Rice, |
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Driving Customer Equity |
Companies
often base their strategic decisions on product profitability analyses.
As rational as this approach may seem, it often leads to poor decisions,
e.g. eliminating an unprofitable product that attracts profitable customers.
Driving Customer Equity emphasizes the importance of customer orientation.
According to the authors, decisions must be geared toward developing
the company’s customer equity, that is, the current and potential
value of its customers. The book then describes several ways to increase
customer equity.
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Roland
T. Rust, Valarie A. Zeithaml |
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Customer Connections |
This
book offers an original approach to strategic analysis that is not based
on traditional product/market/competency analyses, but rather on a precise
understanding of the value of different relationships between companies
and their customers.
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Robert
E. Wayland and Paul M. Cole,
Harvard Business School Press, 1997. |
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