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 companies 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 relationship 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 S. Fader is the Frances and Pei-Yuan Chia Professor of Marketing at the Wharton School of the University of Pennsylvania. He is also the Co-Director of the Wharton Customer Analytics Initiative, an academic research center focused on fostering productive collaborations between data-driven firms and top academic researchers around the world. Fader has been quoted or featured in The New York Times, The Wall Street Journal, The Economist, The Washington Post, and on NPR, among other media.
Table of Contents
Chapter 1: Product Centricity: Cracks in the Foundation
Chapter 2: Customer Centricity: The New Model for Success
Chapter 3: Customer Equity: New Views on Value
Chapter 4: Customer Lifetime Value: The Real Worth of Your Customers
Chapter 5: Customer Relationship Management: The First Step Toward Customer Centricity
About the Author