{"product_id":"converting-customer-value-from-retention-to-profit-hardback-9780470016343","title":"Converting Customer Value; From Retention to Profit (Hardback) 9780470016343","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eConverting Customer Value\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eFrom Retention to Profit\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eJohn J. Murphy (Author), Jamie Burton (Author), Robin Gleaves (Author), Jan Kitshoff (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470016343, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 7 October 2005\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e416 pages\u003cbr\u003e23.4 x 15.2 x 3.3 cm, 0.612 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\"…reminds marketers of the vital link between customer relationships and profitability ... shows how companies can effectively implement the changes needed.\" (The Marketer, March 2006)\u003c\/p\u003e \u003cp\u003e\"...a worthy read...\" (\u003ci\u003eQuality world\u003c\/i\u003e, May 2006)\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eA company exists to make profit, and everything it does is a step towards that goal. Many firms are trying to get closer to their customers, but few realise how crucial this is to corporate value. Indeed, the long-term value of a company is perhaps best described as the sum of future profits from customers, discounted to a present value. Tackling two hot topics in business - CRM and corporate value - and based on a study undertaken by the Customer Management Leadership Group, John Murphy's new book links customer management directly to company profitability for the first time. By implementing its Customer Management Integration Framework, a company can see cash flows for each customer relationship, and use that information to effectively manage key customers for higher and more resilient levels of profitability.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eIntroduction xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1. The Customer Profit Conundrum 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCommon misperceptions about customer profitability 2\u003c\/p\u003e \u003cp\u003eAn overview of customer profitability analysis 6\u003c\/p\u003e \u003cp\u003eHow to measure profit 6\u003c\/p\u003e \u003cp\u003eThe nature of customer costs 8\u003c\/p\u003e \u003cp\u003eCustomer profitability analysis (CPA) and activity-based costing (ABC) 11\u003c\/p\u003e \u003cp\u003eA step-by-step approach to measuring customer profitability 16\u003c\/p\u003e \u003cp\u003eGetting started with customer profitability analysis 24\u003c\/p\u003e \u003cp\u003eCommon barriers to customer profitability analysis 27\u003c\/p\u003e \u003cp\u003eRunning a CPA project 28\u003c\/p\u003e \u003cp\u003eThe results of CPA 30\u003c\/p\u003e \u003cp\u003eWhy do companies have unprofitable customers? 32\u003c\/p\u003e \u003cp\u003eImproving customer profitability 34\u003c\/p\u003e \u003cp\u003eThe customer response 37\u003c\/p\u003e \u003cp\u003eManagement barriers to making changes as a result of CPA 37\u003c\/p\u003e \u003cp\u003eConclusion 38\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Segmentation 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSegmentation incorporating profitability 47\u003c\/p\u003e \u003cp\u003eStep 1: Completion of customer profitability analysis 47\u003c\/p\u003e \u003cp\u003eStep 2: Macro segmentation 48\u003c\/p\u003e \u003cp\u003eStep 3: Verification\/Reality check 50\u003c\/p\u003e \u003cp\u003eStep 4: Micro segmentation 57\u003c\/p\u003e \u003cp\u003eStep 5: Investigate if strategies and operations are aligned 59\u003c\/p\u003e \u003cp\u003eStep 6: Align operations and implement tactics 65\u003c\/p\u003e \u003cp\u003eConclusion 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. Customer Focus 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSegmenting business markets 75\u003c\/p\u003e \u003cp\u003eSegmenting international markets 76\u003c\/p\u003e \u003cp\u003eEach customer wants to be treated as an individual 77\u003c\/p\u003e \u003cp\u003eChoosing customers 77\u003c\/p\u003e \u003cp\u003eManaging the total customer experience 79\u003c\/p\u003e \u003cp\u003eLeading the customer experience 80\u003c\/p\u003e \u003cp\u003eManaging the impact of delays 81\u003c\/p\u003e \u003cp\u003eEmployees connect to the customer 83\u003c\/p\u003e \u003cp\u003eCustomer retention 84\u003c\/p\u003e \u003cp\u003eWhat if customers charged the organisation for their time? 84\u003c\/p\u003e \u003cp\u003eData collection 87\u003c\/p\u003e \u003cp\u003eAction plan 90\u003c\/p\u003e \u003cp\u003eListening to customers 92\u003c\/p\u003e \u003cp\u003eComplaint management: customer satisfaction 93\u003c\/p\u003e \u003cp\u003eMeasures influence behaviour toward (or away from) the DCP 96\u003c\/p\u003e \u003cp\u003eThe ladder of loyalty 97\u003c\/p\u003e \u003cp\u003eRecognise and reward loyal customers 97\u003c\/p\u003e \u003cp\u003eGauging customer loyalty 98\u003c\/p\u003e \u003cp\u003eMicro-marketing is the ultimate in customer service provision 99\u003c\/p\u003e \u003cp\u003eMonitoring performance 100\u003c\/p\u003e \u003cp\u003eWhy it is vital to build trust 103\u003c\/p\u003e \u003cp\u003eSummary 103\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. Processes and Systems 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcess reviews\/Process improvement 112\u003c\/p\u003e \u003cp\u003eCustomer requirements 115\u003c\/p\u003e \u003cp\u003eIdentification of key processes 115\u003c\/p\u003e \u003cp\u003eProcess review 118\u003c\/p\u003e \u003cp\u003eBusiness process re-engineering 122\u003c\/p\u003e \u003cp\u003eQuality in the service industries 123\u003c\/p\u003e \u003cp\u003eManagement’s understanding of customers’ expectations 128\u003c\/p\u003e \u003cp\u003eComplaints 129\u003c\/p\u003e \u003cp\u003eCompliments 134\u003c\/p\u003e \u003cp\u003eSummary 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5. Employee Involvement 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRetention of customers 144\u003c\/p\u003e \u003cp\u003eUnderstanding key concepts 146\u003c\/p\u003e \u003cp\u003eControlling the continuum 147\u003c\/p\u003e \u003cp\u003eRecruitment 150\u003c\/p\u003e \u003cp\u003eEmployee audits 154\u003c\/p\u003e \u003cp\u003eTools for the job 156\u003c\/p\u003e \u003cp\u003eThe team approach 161\u003c\/p\u003e \u003cp\u003eInvolve employees in setting performance and service standards 165\u003c\/p\u003e \u003cp\u003eListen to employees 167\u003c\/p\u003e \u003cp\u003eEmployee motivation 169\u003c\/p\u003e \u003cp\u003ePerformance indicators 171\u003c\/p\u003e \u003cp\u003eReward and recognition – linked to customer retention 175\u003c\/p\u003e \u003cp\u003eWhat makes a great employer? 179\u003c\/p\u003e \u003cp\u003eEmployee retention 181\u003c\/p\u003e \u003cp\u003eThe value of performing exit interviews 182\u003c\/p\u003e \u003cp\u003eSummary 184\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Training and Development 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEmployees are assets 189\u003c\/p\u003e \u003cp\u003eThere is always a payback 190\u003c\/p\u003e \u003cp\u003eTeam establishment 192\u003c\/p\u003e \u003cp\u003eIdentification of training needs 195\u003c\/p\u003e \u003cp\u003eCompetence-based training 196\u003c\/p\u003e \u003cp\u003eService quality training 199\u003c\/p\u003e \u003cp\u003eTeamwork training 201\u003c\/p\u003e \u003cp\u003eCoaching 203\u003c\/p\u003e \u003cp\u003eJust-in-time training 206\u003c\/p\u003e \u003cp\u003eFormal recognition 207\u003c\/p\u003e \u003cp\u003eHow is the person at the top affected? 208\u003c\/p\u003e \u003cp\u003eManagers as trainers 209\u003c\/p\u003e \u003cp\u003eTraining customers 209\u003c\/p\u003e \u003cp\u003eSummary 210\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. Measurement 213\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBenchmarking 216\u003c\/p\u003e \u003cp\u003eAlways measure customer reaction 216\u003c\/p\u003e \u003cp\u003eMeasurement tool creation 218\u003c\/p\u003e \u003cp\u003eAll measurements must be followed by actions for improvements 219\u003c\/p\u003e \u003cp\u003ePriorities for success 221\u003c\/p\u003e \u003cp\u003eHow is total measurement relevant to business success? 222\u003c\/p\u003e \u003cp\u003eTracking net promoters 224\u003c\/p\u003e \u003cp\u003eMeasurement of people 225\u003c\/p\u003e \u003cp\u003eLeadership 227\u003c\/p\u003e \u003cp\u003eWhat to measure? 228\u003c\/p\u003e \u003cp\u003eMeasurement of performance 231\u003c\/p\u003e \u003cp\u003eWhat are the thresholds within which customers decide if an organisation is getting things done right? 235\u003c\/p\u003e \u003cp\u003eManagers are judge and jury 237\u003c\/p\u003e \u003cp\u003eWho needs to know what? 239\u003c\/p\u003e \u003cp\u003eMeasurement and response to change 240\u003c\/p\u003e \u003cp\u003eProduction processes 241\u003c\/p\u003e \u003cp\u003eSummary 248\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. Continuous Improvement 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAdvantages of continuous improvement 253\u003c\/p\u003e \u003cp\u003eTeamwork takes the strain 253\u003c\/p\u003e \u003cp\u003eProblems become opportunities 254\u003c\/p\u003e \u003cp\u003eImprovement means shared information and ideas 256\u003c\/p\u003e \u003cp\u003eRewards come from hard work 256\u003c\/p\u003e \u003cp\u003eHow does one start a service quality initiative and then keep it going forward? 257\u003c\/p\u003e \u003cp\u003eKeep outside suppliers of goods and services up to scratch 260\u003c\/p\u003e \u003cp\u003eShopping in the global marketplace 261\u003c\/p\u003e \u003cp\u003eEthical distortion of customer segments 262\u003c\/p\u003e \u003cp\u003eBenchmarks 264\u003c\/p\u003e \u003cp\u003eField leaders and their recipe for success 269\u003c\/p\u003e \u003cp\u003eHow does one measure continuous improvement? 270\u003c\/p\u003e \u003cp\u003eNothing succeeds like success 274\u003c\/p\u003e \u003cp\u003eCost-effective captivity 275\u003c\/p\u003e \u003cp\u003eSummary 276\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. Communications 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCommunication can be a response, or it can call for a response 283\u003c\/p\u003e \u003cp\u003eManagement has an ongoing role 288\u003c\/p\u003e \u003cp\u003eLeadership is the key 290\u003c\/p\u003e \u003cp\u003ePoor communication is both damaging and unfair to employees 290\u003c\/p\u003e \u003cp\u003eWhat are communications? 291\u003c\/p\u003e \u003cp\u003eBody language also sends messages 292\u003c\/p\u003e \u003cp\u003eIs every communication necessary? 293\u003c\/p\u003e \u003cp\u003eMake it easy for two-way communications 294\u003c\/p\u003e \u003cp\u003eTo the rest of the world, we are foreigners 295\u003c\/p\u003e \u003cp\u003eEffective internal communication 296\u003c\/p\u003e \u003cp\u003eMonitor the effectiveness of communication 297\u003c\/p\u003e \u003cp\u003eTeam briefings 297\u003c\/p\u003e \u003cp\u003eKeep it simple 301\u003c\/p\u003e \u003cp\u003eKeep the door open to doubters 302\u003c\/p\u003e \u003cp\u003eSummary 303\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. Culture 307\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat exactly do we mean by corporate culture? 307\u003c\/p\u003e \u003cp\u003eBeginning to develop a culture 309\u003c\/p\u003e \u003cp\u003eThink Christmas pudding 312\u003c\/p\u003e \u003cp\u003eHussey’s easier approach to fundamental change 319\u003c\/p\u003e \u003cp\u003eRule books 319\u003c\/p\u003e \u003cp\u003eGrowing and sustaining a customer-focused culture 321\u003c\/p\u003e \u003cp\u003eTrust 325\u003c\/p\u003e \u003cp\u003eThe decline in customer satisfaction 329\u003c\/p\u003e \u003cp\u003eSummary 337\u003c\/p\u003e \u003cp\u003eCycle of success 340\u003c\/p\u003e \u003cp\u003eCase Study 1: Alfred McAlpine Business Services Limited 341\u003c\/p\u003e \u003cp\u003eCase Study 2: Centrica 351\u003c\/p\u003e \u003cp\u003eCase Study 3: Eversheds 355\u003c\/p\u003e \u003cp\u003eCase Study 4: National Blood Service 359\u003c\/p\u003e \u003cp\u003eCase Study 5: Shell 367\u003c\/p\u003e \u003cp\u003eBibliography 373\u003c\/p\u003e \u003cp\u003eIndex 381\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Business \u0026amp; management [\u003ca title=\"See our other books on Business \u0026amp; management\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Business%20\u0026amp;%20management%20%5BKJ%5D%22\"\u003eKJ\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52255788531992,"sku":"9780470016343","price":35.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470016343_3542.jpg?v=1781274138","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/converting-customer-value-from-retention-to-profit-hardback-9780470016343","provider":"Freshly Printed Books","version":"1.0","type":"link"}