Customer Centricity: Focus on the Right Customers for Strategic Advantage

Customer Centricity: Focus on the Right Customers for Strategic Advantage

By Peter Fader

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.

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Book Information

Publisher: Wharton Digital Press
Publish Date: 05/15/2012
Pages: 128
ISBN-13: 9781613630167
ISBN-10: 1613630166
Language: English

Full Description

A powerful call to action, Customer Centricity upends some of our most fundamental beliefs about customer service, customer relationship management, and customer lifetime value 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. In Customer Centricity, Wharton professor Peter Fader, coauthor of the follow-up book The Customer Centricity Playbook, helps businesses radically rethink how they relate to customers. He provides insights to help you understand:
  • Why customer centricity is the new model for success and product centricity must be ushered out
  • How the ideas of brand equity and customer equity help us understand what kinds of compa-nies naturally lend themselves to the customer-centric model and which ones don't
  • Why the traditional models for determining the value of individual customers are flawed
  • How executives can use customer lifetime value (CLV) and other customer-centric data to make smarter decisions about their companies
  • How the well-intended idea of customer relation-ship management (CRM) lost its way-and how your company can properly put CRM to use

Customer Centricity will help you realign 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. ALSO AVAILABLE: Once Fader convinces you of the value of customer centricity in this book, The Customer Centricity Playbook, with Sarah Toms, will show you where to get started. "Reveals how to increase profits from your best customers, find more like them, and avoid over-investing in the rest....Decidedly accessible and absolutely necessary."
-Jim Sterne, Founding President and Chairman, Digital Analytics Association "Perfect read...It's short (60-90 minutes), clear, and the best summary I've read of why companies should rethink their approach to customers."
-Andrew McFarland, SVP, Chief Customer Officer, Black Box "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."
-Andy Sernovitz, author, Word of Mouth Marketing 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.

About the Author

Peter Fader is the Frances and Pei-Yuan Chia Professor of Marketing at The Wharton School of the University of Pennsylvania. His expertise centers on the analysis of behavioral data to understand and forecast customer shopping/purchasing activities.

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