Relationship U-Turn: Approaches to Increase the Value of an Unprofitable Customer PDF Download
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Author: Kerstin Helmes
Publisher: Diplomarbeiten Agentur
ISBN: 3863410599
Category : Business & Economics
Languages : de
Pages : 55
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Book Description
Customer relationship management concentrates to a great extent on the profitable customers and how to enhance their profitability. Little insight has been given on how to treat the "wrong" customer. This literature research paper shows that customer profitability and overall firm profitability can be improved when dealing with unprofitable customers. The managerial approaches discussed focus on maintaining the customer relationship. For this reason, this paper differs from the general widespread strategy of termination or "firing" an invaluable customer. First, relationship marketing and "Relationship U-turn" are introduced in this paper. Second, customer value and methods of measuring customer value are discussed. The body of this paper concentrates on different approaches that try to turn unprofitable customer relationships into profitable ones. Some of the approaches focus on letting the customer take over more of the value chain activities such as self-service. Other approaches look more at the non-monetary value a customer can provide such as positive word-of-mouth. Examples from business-to-business (B2B) and business-to-consumer (B2C) markets are given for each approach and discussed in detail. The paper concludes with ideas for future research and a discussion. It emphasizes that companies need to realize that every customer is an asset that contributes to the value of a firm. However, customers differ in their needs and a company has to tailor its offering to meet these needs. Only when a company takes a more customer-centric view can it be successful, especially in mature markets.
Author: Kerstin Helmes
Publisher: Diplomarbeiten Agentur
ISBN: 3863410599
Category : Business & Economics
Languages : de
Pages : 55
Get Book Here
Book Description
Customer relationship management concentrates to a great extent on the profitable customers and how to enhance their profitability. Little insight has been given on how to treat the "wrong" customer. This literature research paper shows that customer profitability and overall firm profitability can be improved when dealing with unprofitable customers. The managerial approaches discussed focus on maintaining the customer relationship. For this reason, this paper differs from the general widespread strategy of termination or "firing" an invaluable customer. First, relationship marketing and "Relationship U-turn" are introduced in this paper. Second, customer value and methods of measuring customer value are discussed. The body of this paper concentrates on different approaches that try to turn unprofitable customer relationships into profitable ones. Some of the approaches focus on letting the customer take over more of the value chain activities such as self-service. Other approaches look more at the non-monetary value a customer can provide such as positive word-of-mouth. Examples from business-to-business (B2B) and business-to-consumer (B2C) markets are given for each approach and discussed in detail. The paper concludes with ideas for future research and a discussion. It emphasizes that companies need to realize that every customer is an asset that contributes to the value of a firm. However, customers differ in their needs and a company has to tailor its offering to meet these needs. Only when a company takes a more customer-centric view can it be successful, especially in mature markets.
Author: Lynette Ryals
Publisher: John Wiley & Sons
ISBN: 0470742364
Category : Business & Economics
Languages : en
Pages : 384
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Book Description
This book is a response to a need in the market place in the fast-growing field of customer profitability analysis and the profitable management of customer relationships. It combines innovative approaches to calculating the value of customers, with the management strategies necessary to make and keep customers profitable. It includes easy-to-follow instructions on how to calculate customer profitability, including worked examples (non-technical) and discusses strategies and their applications for organizations to manage customers profitably. Based on cases and feedback from the KAM Club and other research, there will be many business-to-business as well as business-to-consumer examples. The book assumes some level of numeracy in its readership. The contents include: Assessing product costs, costs to serve and how these can be estimated, and how to deal with customer-specific overhead costs. It discusses the uses and limitations of the use of customer profitability analysis, and illustrates how to calculate customer lifetime value using two methods, one with actual numbers and one which estimates relative customer lifetime value. Provides an innovative approach to calculating the lifetime value of a customer by taking risk into account. Demonstrates how to recognise and value the relationship benefits of customers, such as word of mouth. Brings into discussion the idea that how customers are managed, links to their profitability. Describes how financial portfolio analysis and theory apply to marketing and how, their application to marketing relates to the optimisation of marketing spend.
Author: Anna Balashova
Publisher: GRIN Verlag
ISBN: 3668452369
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
Bachelor Thesis from the year 2016 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,3, University of Münster, language: English, abstract: In this paper, I analyze how customer metrics like Customer lifetime value (CLV) are linked to strategies for managing unprofitable customers. Valuing customers or their behavior, respectively, has become an indispensable issue for any commercial activity. When determining causes and reasons of the customers’ contribution to firm value or performance, the customer base usually is analyzed and evaluated, whereas profitable and unprofitable customers are identified. Especially the subject of unprofitable customers, the methods to single them out and their input on the firm’s financial performance have been thoroughly discussed in the literature. Because regular financial metrics have restricted diagnostic potential, relying on customer metrics appears more suitable for determining customer’s profitability. There are diverse methods for evaluating customers, such as previous period customer revenue, past customer value, customer lifetime duration and customer lifetime value (CLV). CLV examines customer profitability from a prospective perspective, foreseeing future customer behavior and discounting future cash flows. CLV and its measurement models, depending on the kind of customers and products obtained by the company, provide a basis for strategic and tactical decisions. Customer’s persistent adverse behavior can lead to unprofitable outcome and should be considered by determining profitability on the base of CLV. There are several strategies for handling unprofitable customers. Before applying one of these, it is necessary to measure potential benefits and losses, as the chosen strategy can have a longrun effect on the firm’s clientele. There are some interconnections between various CLV measurement models, other customer metrics and strategies applied to unprofitable customers.
Author: Bill Thomas
Publisher: John Wiley & Sons
ISBN: 1118356918
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
Design and implement the ideal customer focus Anticipate provides business readers with a practical how-to approach for taking their customer-supplier relationship to one that is more sustainable and more mutually profitable. Much of the discussion on customer experience has centered on the hospitality or retail industries and has showcased the discrete techniques organizations use to deliver better service and create more satisfied customers. Anticipate extends and integrates those techniques to deliver an end-to-end customer experience that can be applied in any industry, by any type of organization. Get proven guidance on how to design and implement a customer-focused journey that moves beyond the transaction and satisfied customers, to a relationship and culture that creates and leverages loyalty – and the profitability that comes with it. Explains proprietary methods—such as the Customer Focus Maturity Model ® and Value Chain Labs ® —that teach readers the steps and tools organizations use to create, drive and optimize their customer focus. Authors Bill Thomas and Jeff Tobe have used their 10-point framework to guide Fortune 500’s, start-ups as well as non-profits in charting a customer-focused journey that matures, anticipates and delivers increasing levels of loyalty and profitability with their customers, and across their broader value chain. Anticipate will provide you with field-proven steps, tools and examples that you’ll use to take your customer-focused strategy, execution and culture to the ideal level.
Author: S.L. Gupta
Publisher: Excel Books India
ISBN: 9788174464163
Category : Sales management
Languages : en
Pages : 620
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Book Description
Most standard books on marketing area have been written by American authors. Though there are a number of books on Sales and Distribution Management by Indian authors as well, these books do not present the Indian conditions in the right perspective. Indian students studying management require books which deal with the changing profile of Indian buyers and helps them understand their perceptions and motivations as also the factors that influence the decisions made by Indian consumers.The book offers a practical approach to Sales and Distribution Management and gives a comprehensive, easy-to-read and enjoyable treatment to the subject matter for students of Sales and Distribution Management. It includes more than 500 live examples and 30 Case Studies from Indian marketing environment and provides sufficient food for thought to students to develop themselves as Result oriented marketers of the future.
Author: Brian Koslow
Publisher: BrownBooks.ORM
ISBN: 1612540848
Category : Self-Help
Languages : en
Pages : 261
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Book Description
The renowned success coach reveals the three fundamental principles for building wealth in this practical and inspirational guide. Making a lot of money is easy—once you know how. This is the reason the rich tend to get richer. When you have this knowledge and put it into action, your financial destiny isn’t simply left to chance. In Self-Made, renowned success coach Brian Koslow teaches you how to make powerful choices that lead to greater profits. You’ll learn how to maintain a “Wealth Mind-Set,” build “Mutually Advantageous Relationships,” and develop “Millionaire Skills.” Presented in an easy-to-read format with summaries, millionaire tips, and exercises, Self-Made is the ultimate study guide for success. By putting Brian’s advice into action, you will increase your effectiveness at creating wealth and finally control your financial destiny!
Author: Meridith Elliott Powell, MBA, CSP
Publisher: Sound Wisdom
ISBN: 1640953817
Category : Business & Economics
Languages : en
Pages : 136
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Book Description
In only one month, you can acquire the skills, tools, and techniques that will help you turn more prospects into loyal customers, increase your sales, and derive greater enjoyment from the experience. Organized into daily lessons on critical sales strategies, 30 Days to Sales Success is your roadmap to making sales more comfortable, more fulfilling, and more rewarding. Regardless of what you are selling—a product, a service, an idea, or a new direction—you have to understand the value of your offering and share it in a way that convinces people to participate. However, much of the sales advice today centers on the salesperson, not the customer, and entails aggressive cold-calling and upselling techniques. It’s no wonder so many people dislike selling…and why so many people dislike being sold to. Luckily, there is another way—a path to customer-oriented sales, with a focus on value, service, and long-term relationships. Named “One of the Top 20 Sales Experts to Follow” by LinkedIn, Meridith Elliott Powell will equip you with critical strategies for sustainable, relationship-oriented sales success. First, you will gain a solid foundation in approaching sales—from preparing to meet your prospect for the first time, to better defining your selling style, to more effectively articulating the value you and your product or service add. Next, you will develop expertise in the sales call, perfecting your message, delivery, and listening skills. Finally, you will master the art of the follow-up, ensuring your customer’s satisfaction, earning more referrals, increasing your offerings, and continuing your discussions. By reading the lessons and completing the journaling prompts and action items each day, you will progressively improve your sales savvy so that by the end of the month, you will feel more confident in your abilities and your natural sales style, more passionate about your work, and more empowered to sell with intention and efficacy.
Author: Don Peppers
Publisher: John Wiley & Sons
ISBN: 1119815347
Category : Business & Economics
Languages : en
Pages : 517
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Book Description
Every business on the planet is trying to maximize the value created by its customers Learn how to do it, step by step, in this newly revised Fourth Edition of Managing Customer Experience and Relationships: A Strategic Framework. Written by Don Peppers and Martha Rogers, Ph.D., recognized for decades as two of the world's leading experts on customer experience issues, the book combines theory, case studies, and strategic analyses to guide a company on its own quest to position its customers at the very center of its business model, and to "treat different customers differently." This latest edition adds new material including: How to manage the mass-customization principles that drive digital interactions How to understand and manage data-driven marketing analytics issues, without having to do the math How to implement and monitor customer success management, the new discipline that has arisen alongside software-as-a-service businesses How to deal with the increasing threat to privacy, autonomy, and competition posed by the big tech companies like Facebook, Amazon, and Google Teaching slide decks to accompany the book, author-written test banks for all chapters, a complete glossary for the field, and full indexing Ideal not just for students, but for managers, executives, and other business leaders, Managing Customer Experience and Relationships should prove an indispensable resource for marketing, sales, or customer service professionals in both the B2C and B2B world.
Author: Richard Gay
Publisher: Oxford University Press
ISBN: 0199265852
Category : Business & Economics
Languages : en
Pages : 558
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Book Description
'Online Marketing' provides a balance between theory & practice by recognising the advantages & drawbacks of doing business online. Supported by contemporary mini-cases, case studies & expert opinion from leading practitioners, this text covers: the changing online environment, online planning and more.
Author: D. Bowles
Publisher: Springer
ISBN: 0230250785
Category : Business & Economics
Languages : en
Pages : 173
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Book Description
Performance is the key outcome of high morale, and the reason why it should be taken so seriously: with research gathered from some of the world's largest employee opinion databases and best academic centres, the authors lay out the morale-performance connection.
