Customer Connections: New Strategies for Growth by Robert E. Wayland

By Robert E. Wayland

With this e-book, managers have a brand new strategic framework for making specific connections among what they find out about their consumers and the way they could leverage that info to create worth. The authors display a finished process that areas patron relationships on the heart of your small business and exhibits you the way to exploit the program to find and faucet new assets of worth to enhance your firm's profitability and progress. "Customer Connections" is filled with clean, useful examples of businesses - together with ScrubaDub motor vehicle wash, Inc. journal, United Parcel provider, MCI Communications, and Wachovia financial institution - that experience creatively used details and information administration applied sciences to connect to their clients in new methods. It unveils a version for fostering collaboration and enjoying the suitable position in provide and insist chains, and provides you the instruments for development a technique according to the 4 key drivers of shopper portfolio worth: making a choice on the purchasers you will have, opting for what you must supply, figuring out what position you need to play in assembly their wishes, and dealing jointly to create mutual worth. Wayland and Cole help you ask - and act on - the ideal questions about producing and dealing with shopper wisdom, utilizing connecting applied sciences, and figuring out shopper economics so as to determine your firm's present place and confirm its skill to seize shopper price sooner or later. are you aware the worth of your purchaser courting portfolio and deal with it to maximise company price? How can connecting know-how can be utilized to collaborate with or study out of your dealers? What are the main determinants of provider price in your clients? Are they a similar throughout all clients? Are there possibilities to revamp your product to seize worth from one other a part of the price chain? Which clients when you invite to take part on your product improvement efforts? How devoted are you for your consumers' luck? "Customer Connections" can assist you find new how you can take into consideration worth construction. It pulls jointly the tactic and the motion plan for construction and handling client portfolios and for leveraging patron relationships for aggressive virtue.

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Extra resources for Customer Connections: New Strategies for Growth

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On this point, our survey revealed that it is not the lack of information about the customer per se that stands in the way of building better customer connections but rather the lack of a disciplined process for managing that knowledge. Customer-Connecting Technologies Connecting technologies create either a direct interface with the customer or a channel for exchanging information. These connections may be used to foster < previous page page_32 next page > < previous page page_33 next page > Page 33 conversation with customers, stimulate collaboration, or execute commerce and customer care.

During the relatively brief customer encounter on the phone (call length averages less than 4 minutes), representatives have an opportunity to increase customer relationship value in three ways: by responding effectively to the customer's inquiry, by increasing the amount of customer-specific information relating to future purchases, and by developing information to improve future products and services. By solving a customer's problem, the representative can change immediately that customer's state of satisfaction or repurchase rate.

L Effective customer knowledge management puts to work both the surface-level, explicit knowledge resulting from direct exchanges with customers, and the deeply embedded knowledge of the customer that resides tacitly in the heads of a company's customer-serving personnel and the customers themselves. 2 The idea that information about customers and markets must be integrated and imbued with insight before it has value should be fairly obvious. Still, businesses fail to accomplish this more often than we'd care to recountand it costs them dearly.

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