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Managing Customer Experience and Relationships, 3rd Edition

Book Description

Boost profits, margins, and customer loyalty with more effective CRM strategy

Managing Customer Experience and Relationships, Third Edition positions the customer as central to long-term strategy, and provides essential guidance toward optimizing that relationship for the long haul. By gaining a deep understanding of this critical dynamic, you'll become better able to build and manage the customer base that drives revenue and generates higher margins. A practical framework for implementing the IDIC model merges theory, case studies, and strategic analysis to provide a ready blueprint for execution, and in-depth discussion of communication, metrics, analytics, and more allows you to optimize the relationship on both sides of the table. This new third edition includes updated examples, case studies, and references, alongside insightful contributions from global industry leaders to give you a well-rounded, broadly-applicable knowledge base and a more effective CRM strategy. Ancillary materials include a sample syllabus, PowerPoints, chapter questions, and a test bank, facilitating use in any classroom or training session.

The increased reliance on customer relationship management has revealed a strong need for knowledgeable practitioners who can deploy effective initiatives. This book provides a robust foundation in CRM principles and practices, to help any business achieve higher customer satisfaction.

  • Understand the fundamental principles of the customer relationship
  • Implement the IDIC model to improve CRM ROI
  • Identify essential metrics for CRM evaluation and optimization
  • Increase customer loyalty to drive profits and boost margins

Sustainable success comes from the customer. If your company is to meet performance and profitability goals, effective customer relationship management is the biggest weapon in your arsenal—but it must be used appropriately. Managing Customer Experience and Relationships, Third Edition provides the information, practical framework, and expert insight you need to implement winning CRM strategy.

Table of Contents

  1. Foreword: The View from Here
    1. Getting Better at Consumer Marketing
    2. Note
  2. Preface
    1. How to Use This Book
    2. Note
  3. Acknowledgments
  4. About the Authors
  5. Part I: Principles of Managing Customer Experience and Relationships
    1. Chapter 1: Evolution of Relationships with Customers and Strategic Customer Experiences
      1. Roots of Customer Relationships and Experience
      2. What Is a Relationship? Is That Different from Customer Experience?
      3. The Technology Revolution and the Customer Revolution
      4. Summary
      5. Food for Thought
      6. Glossary
      7. Notes
    2. Chapter 2: The Thinking behind Customer Relationships That Leads to Good Experiences
      1. Why Do Companies Work at Being “Customer-Centric”?
      2. What Characterizes a Relationship?
      3. Customer Loyalty: Is It an Attitude? Or a Behavior?
      4. Summary
      5. Food for Thought
      6. Glossary
      7. Notes
  6. Part II: IDIC Implementation Process: A Model for Managing Customer Relationships and Improving Customer Experiences
    1. Chapter 3: Customer Relationships: Basic Building Blocks of IDIC and Trust
      1. Trust and Relationships Happen in Unison
      2. IDIC: Four Implementation Tasks for Creating and Managing Customer Experiences and Relationships
      3. How Does Trust Characterize a Learning Relationship?
      4. Becoming More and More Trustable to Customers
      5. Do Things Right and Do the Right Thing
      6. Be Proactive
      7. Relationships Require Information, but Information Comes Only with Trust
      8. Summary
      9. Food for Thought
      10. Glossary
      11. Notes
    2. Chapter 4: Identifying Customers
      1. Individual Information Requires Customer Recognition
      2. What Does Identify Mean?
      3. Customer Data Revolution
      4. Summary
      5. Food for Thought
      6. Glossary
      7. Notes
    3. Chapter 5: Differentiating Customers: Some Customers Are Worth More Than Others
      1. Customer Value Is a Future-Oriented Variable
      2. Different Customers Have Different Values
      3. Summary
      4. Food for Thought
      5. Glossary
      6. Notes
    4. Chapter 6: Differentiating Customers by Their Needs
      1. Definitions
      2. Differentiating Customers by Need: An Illustration
      3. Understanding Customer Behaviors and Needs
      4. Why Doesn’t Every Company Already Differentiate Its Customers by Needs?
      5. Categorizing Customers by Their Needs
      6. Understanding Needs
      7. Community Knowledge
      8. Using Needs Differentiation to Build Customer Value
      9. Summary
      10. Food for Thought
      11. Glossary
      12. Notes
    5. Chapter 7: Interacting with Customers: Customer Collaboration Strategy
      1. Dialogue Requirements
      2. Implicit and Explicit Bargains
      3. Do Consumers Really Want One-to-One Marketing?
      4. Technology of Interaction Requires Integrating across the Entire Enterprise
      5. Customer Dialogue: A Unique and Valuable Asset
      6. Not All Interactions Qualify as “Dialogue”
      7. Cost Efficiency and Effectiveness of Customer Interaction
      8. Complaining Customers: Hidden Assets?
      9. Summary
      10. Food for Thought
      11. Glossary
      12. Notes
    6. Chapter 8: Customer Insight, Dialogue, and Social Media
      1. Listening to Customers
      2. Age of Transparency
      3. As Interactions Multiply, Trust Becomes More Important
      4. Summary
      5. Food for Thought
      6. Glossary
      7. Notes
    7. Chapter 9: Privacy and Customer Feedback
      1. Privacy in Europe Is a Different World
      2. Privacy Pledges Build Enterprise Trust
      3. Submitting Data Online
      4. Summary
      5. Food for Thought
      6. Glossary
      7. Notes
    8. Chapter 10: The Payoff of IDIC: Using Mass Customization to Build Learning Relationships
      1. How Can Customization Be Profitable?
      2. Technology Accelerates Mass Customization
      3. Customization of Standardized Products and Services
      4. Value Streams
      5. Culture Rules
      6. Summary
      7. Food for Thought
      8. Glossary
      9. Notes
  7. Part III: Measuring and Managing to Build Customer Value
    1. Chapter 11: Optimizing around the Customer: Measuring the Success of Customer-Based Initiatives and the Customer-Centric Organization
      1. Customer Equity
      2. Customer Loyalty and Customer Equity
      3. Return on Customer
      4. Leading Indicators of LTV Change
      5. Stats and the Single Customer
      6. Summary
      7. Food for Thought
      8. Glossary
      9. Notes
    2. Chapter 12: Using Customer Analytics to Build the Success of the Customer-Strategy Enterprise
      1. Summary
      2. Food for Thought
      3. Glossary
      4. Notes
    3. Chapter 13: Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 1
      1. Relationship Governance
      2. Summary
      3. Food for Thought
      4. Glossary
      5. Notes
    4. Chapter 14: Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 2: Transitioning from Traditional Business to Customer Centricity
      1. Pilot Projects and Incremental Change
      2. Picket Fence Strategy
      3. Segment Management
      4. Customer Portfolio Management
      5. Transition across the Enterprise
      6. Transition Process for Other Key Enterprise Areas
      7. Managing Employees in the Customer-Strategy Enterprise
      8. Summary
      9. Food for Thought
      10. Glossary
      11. Notes
    5. Chapter 15: Futureproofing the Customer-Centric Organization
      1. Leadership Behavior of Customer Relationship Managers
      2. Maintain and Increase the Trust of Customers
      3. Summary
      4. Food for Thought
      5. Notes
  8. Name Index
  9. Term Index
  10. EULA