Boost profits, margins, and customer loyalty with more effective CRM strategy
Managing Customer Experience and Relationships, Third Edition positions the customer as central to long-term strategy, and provides essential guidance toward optimizing that relationship for the long haul. By gaining a deep understanding of this critical dynamic, you'll become better able to build and manage the customer base that drives revenue and generates higher margins. A practical framework for implementing the IDIC model merges theory, case studies, and strategic analysis to provide a ready blueprint for execution, and in-depth discussion of communication, metrics, analytics, and more allows you to optimize the relationship on both sides of the table. This new third edition includes updated examples, case studies, and references, alongside insightful contributions from global industry leaders to give you a well-rounded, broadly-applicable knowledge base and a more effective CRM strategy. Ancillary materials include a sample syllabus, PowerPoints, chapter questions, and a test bank, facilitating use in any classroom or training session.
The increased reliance on customer relationship management has revealed a strong need for knowledgeable practitioners who can deploy effective initiatives. This book provides a robust foundation in CRM principles and practices, to help any business achieve higher customer satisfaction.
* Understand the fundamental principles of the customer relationship
* Implement the IDIC model to improve CRM ROI
* Identify essential metrics for CRM evaluation and optimization
* Increase customer loyalty to drive profits and boost margins
Sustainable success comes from the customer. If your company is to meet performance and profitability goals, effective customer relationship management is the biggest weapon in your arsenal--but it must be used appropriately. Managing Customer Experience and Relationships, Third Edition provides the information, practical framework, and expert insight you need to implement winning CRM strategy.
Autorentext
DON PEPPERS is founder emeritus of Peppers & Rogers Group, and LinkedIn's most authoritative Influencer on the topic of "customer experience," with more than a quarter million followers.
MARTHA ROGERS, PH.D., is founder emerita of Peppers & Rogers Group, and has served as adjunct professor and Director of the Relationship Management Center at Duke University. She now heads Trustability Metrix.
Peppers and Rogers have published eight bestselling books together, including Return on Customer, Rules to Break and Laws to Follow, and The One-to-One Future. Their most recent book is the revised and updated paperback edition of Extreme Trust.
Inhalt
Foreword by Phil Kotler xiii
Preface xvii
Acknowledgments xxi
About the Authors xxiii
Part I Principles of Managing Customer Experience and Relationships 1
Chapter 1 Evolution of Relationships with Customers and Strategic Customer Experiences 3
Roots of Customer Relationships and Experience 5
Traditional Marketing Redux 11
What is a Relationship? Is That Different from Customer Experience? 20
Who is the Customer? 21
How to Think about Customer Experience 22
Return on Customer: Measuring the Efficiency with Which Customers Create Value 25
The Technology Revolution and the Customer Revolution 28
Royal Bank of Canada's 16 Million Loyal Customers 30
The ROI of Building Customer Relationships in Financial Services 34
Summary 38
Food for Thought 39
Glossary 39
Chapter 2 The Thinking behind Customer Relationships That Leads to Good Experiences 43
Why Do Companies Work at Being Customer-Centric? 44
What Characterizes a Relationship? 46
Continuing Roles for Mass Media and Branding 46
Characteristics of a Genuine Business Relationship 47
Building Genuine Customer Connections: A Framework for Understanding Customer Relationships (James G. Barnes) 50
Customer Loyalty: Is It an Attitude? Or a Behavior? 61
Loyalty Programs 63
Summary 66
Food for Thought 67
Glossary 67
Part II IDIC Implementation Process: A Model For Managing Customer Relationships and Improving Customer Experiences 71
Chapter 3 Customer Relationships: Basic Building Blocks of IDIC and Trust 73
Trust and Relationships Happen in Unison 74
IDIC: Four Implementation Tasks for Creating and Managing Customer Experiences and Relationships 79
How Does Trust Characterize a Learning Relationship? 82
The Speed of Trust (Stephen M. R. Covey) 82
The Trust Equation: Generating Customer Trust (Charles H. Green) 85
Becoming More and More Trustable to Customers 92
The Age of Transparency (Dov Seidman) 96
Basic Principles of Twenty-First-Century Trustability 101
Do Things Right and Do the Right Thing 102
Be Proactive 103
The Man with the Folding Chair 106
Relationships Require Information, but Information Comes Only with Trust 108
Scenario: Governments Develop Learning Relationships with Citizen-Customers 111
Summary 116
Food for Thought 116
Glossary 117
Chapter 4 Identifying Customers 119
Individual Information Requires Customer Recognition 120
The Real Objective of Loyalty Programs and Frequency Marketing Plans 124
What Does Identify Mean? 129
Customer Data Revolution 133
The Role of the Internet of Things and Smart Products in Managing Relationships with Customers 138
Summary 139
Food for Thought 139
Glossary 140
Chapter 5 Differentiating Customers: Some Customers Are Worth More Than Others 143
Customer Value is a Future-Oriented Variable 145
Assessing a Customer's Potential Value 158
Different Customers Have Different Values 159
Pareto Principle and Power-Law Distributions 160
Customer Referral Value 165
Is It Fair to Fire Unprofitable Customers? 170
Dealing with Tough Customers 171
Canada Post Customer Value Management Program: Using Value to Differentiate Customer Relationships (Janet LeBlanc) 179
Summary 182
Food for Thought 183
Glossary 184
Chapter 6 Differentiating Customers by Their Needs 187
Definitions 188
Demographics Do Not Reveal Needs 191
Differentiating Customers by Need: An Illustration 192