Not All Customers Are Created Equal
Despite what the tired old adage says, the customer is not always right. Not all customers deserve your best efforts: in the world of customer centricity, there are good customers…and then there is pretty much everybody else.
Upending some of our most fundamental beliefs, renowned behavioral data expert Peter Fader, Co-Director of The Wharton Customer Analytics Initiative, helps businesses radically rethink how they relate to customers. He provides insights to help you revamp your performance metrics, product development, customer relationship management and organization in order to make sure you focus directly on the needs of your most valuable customers and increase profits for the long term.
The Wharton Executive Essentials Series
The Wharton Executive Essentials Series from Wharton Digital Press brings the ideas of the Wharton School’s thought leaders to you wherever you are. Inspired by Wharton’s Executive Education program, each book is authored by globally renowned faculty and filled with real-life business examples and actionable advice. Wharton Executive Essentials guides offer a quick-reading, penetrating, and comprehensive summary of the knowledge leaders need to excel in today’s competitive business environment and capture tomorrow’s opportunities.
“Knowing what your customers are worth is the secret to focusing your time and money where it makes the most difference. You can’t be all things to all people, so you need to learn to find out who really matters to your success. Fader makes it clear with great ideas and a readable style.”
“Customer Centricity reveals how to increase profits from your best customers, find more like them, and avoid over-investing in the rest. Learn where customer relationship management went wrong, how to fix it, and whether to bankroll customers or branding. Decidedly accessible and absolutely necessary for companies in a social media world.”
Business2Community.com, October 02, 2013
Is Your Business Customer Centric?
Is your company customer centric? Does your leadership team know what that means? According to Peter Fader, “Customer centricity is not really about being nice to your customers. It is not a philosophy. It is not something that can be fostered through a company handbook or mission statement. Customer centricity is a strategy that aligns a company’s development and delivery of its products and services with the current and future needs of a select set of customers in order to maximize their long-term financial value.”
Forbes, December 12, 2012
Simple Tools Help Owners Sift Data for Eager Customers
Based on the experiences of business owners, this guide offers suggestions on how both Web-based businesses and traditional retailers can use data.
Cutroni.com, October 29, 2012
Universal Analytics: The Next Generation of Google Analytics
Google Analytics is introducing a number of new technologies, collectively called Universal Analytics, that will create a better way for businesses to measure their digital world.
Customer Think, November 21, 2011
The Skinny on “Fattening Up” Customers
I often use the metaphor of fishing as a way to explain new customer acquisition. From the firm’s perspective, there is a great big ocean out there full of prospective customers of all different shapes and sizes.
Links for Further Reading
Wharton Customer Analytics Initiativehttp://wcai.wharton.upenn.edu/