Converting Customer Value: From Retention to Profit
ISBN: 0470016345
EAN13: 9780470016343
Language: English
Pages: 388
Dimensions: 1.00" H x 9.00" L x 6.00" W
Weight: 2.00 lbs.
Format: Hardcover

Converting Customer Value: From Retention to Profit

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Book Overview
A 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.
Editor Reviews
From the Back Cover CONVERTING CUSTOMER VALUE From Retention to Profit JOHN A. MURPHY, Jamie Burton, Robin Gleaves and Jan Kitshoff Every commercial company exists to make a profit, preferably large enough to enable growth. Faced with fierce competition and shorter product life cycles, most of today's companies are riding the bandwagon of 'getting closer to customers'. Few grasp, however, just how critical this is to their survival. In fact, as this book demonstrates, the long-term worth of a company is perhaps most accurately described as the sum of future profits from customers, discounted to a present value. No customers, no business. It really is that simple. Now, with that in mind, imagine a company that could discover and nurture its most profitable customers, identify those ripe for improvement, accurately allocate service overheads, see actual cash flows for each customer relationship, motivate its employees and communicate market feedback for continuous improvement throughout the organization. That company would surely know exactly where it was going and how to get there. That company can be your company. By implementing the advice, tools and frameworks contained in this book, you can immediately begin Converting Customer Value to design and deliver higher, more resilient levels of corporate profit.
From the front Cover This book is founded on a groundbreaking approach called the Customer Management Integration Framework. Developed from a customer profitability benchmarking study conducted by the authors across leading companies, the approach makes explicit links between customer and corporate value for the first time. A business without customers is nothing, argue the authors. And if you plan to stay for the long term you had better start converting the value of yours into hard currency - fast. Building on the success of John Murphy's previous book The Lifebelt and drawing on new thinking from the Customer Management Leadership Group, Converting Customer Value presents a model for developing top customers and exploiting them for ideas, publicity and profitability in exchange for special care and attention. It discusses the opportunities for bringing less profitable customers into the top group, and also offers some unconventional advice on what to do with the remainder. A final section is devoted to detailed case studies of customer-centric change initiatives at Alfred McAlpine Business Services, Centrica, Eversheds, the National Blood Service and Shell.