Economics of Retention.
Processes and Systems.
Training and Development.
Formalizing a Service Excellence Customer Retention Strategy.
The Lifebelt: The Definitive Guide to Managing Customer Retention / Edition 1by John A. Murphy
Pub. Date: 03/26/2001
In a world where there is increasing choice for just about every kind of product and service, winning and holding the best customers is key to the success of any business. Customer Relationship Management, or CRM, is a concept that senior managers in any kind of business ignore at their peril. At its heart is the successful management of customer retention by being
In a world where there is increasing choice for just about every kind of product and service, winning and holding the best customers is key to the success of any business. Customer Relationship Management, or CRM, is a concept that senior managers in any kind of business ignore at their peril. At its heart is the successful management of customer retention by being customer-focused as an organization.
The concept is not rocket science, but its implementation is more of a challenge. It involves a fundamental change within the organization.
In this book, John Murphy introduces "The Lifebelt" - quite literally an aid to keeping afloat in this pressured environment. The Lifebelt is a framework that offers a practical way forward to integrating and mobilizing the entire oragnization toward a holistic CRM programme.
The proprietary framework features six key factors identified as being essential for consistent delivery of service: customer focus, processes, employee involvement, training, measurement, and continuous improvement.
John Murphy outlines how each of the factors should be owned by an appropriate member of the top management team. When this framework is systematically and effectively implemented and managed it will considerably enhance the customer retention capacity of the company.
The logic of the framework applies to virtually all industries internationally. Managers and marketers across the board will find this book one of the most practical gudies to retaining customers published to date.
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