With this book, managers have a new strategic framework for making explicit connections between what they know about their customers and how they can leverage that information to create value. The authors reveal a comprehensive system that places customer relationships at the center of your business and shows you how to use this system to discover and tap new sources of value to improve your firm's profitability and growth. Customer Connections is full of fresh, practical examples of companies—including ScrubaDub car wash, Inc. magazine, United Parcel Service, MCI Communications, and Wachovia Bank—that have creatively used information and knowledge management technologies to connect with their customers in new ways. It unveils a model for fostering collaboration and playing the right role in supply and demand chains, and gives you the tools for building a strategy based on the four key drivers of customer portfolio value: choosing the customers you want, selecting what you want to offer, deciding what role you should play in meeting their needs, and working together to create mutual value. Wayland and Cole show you how to ask—and act on—the right questions about generating and managing customer knowledge, using connecting technologies, and understanding customer economics in order to assess your firm's current position and determine its ability to capture customer value in the future. Do you know the value of your customer relationship portfolio and manage it to maximize firm value? How can connecting technology can be used to collaborate with or learn from your buyers? What are the major determinants of supplier value to your customers? Are they the same across all customers? Are there opportunities to redesign your product to capture value from another part of the value chain? Which customers should you invite to participate in your product development efforts? How committed are you to your customers' success? Customer Connections will help you discover new ways to think about value creation. It pulls together the strategy and the action plan for building and managing customer portfolios and for leveraging customer relationships for competitive advantage.
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Customer Connections combines excellent research, creative theory, useful models, everyday metaphors, and insightful business examples. This book not only takes the customer' and customer value' to the next level of integration into our businesses, but is compelling, easily understood, and enjoyable. It is a must for the twenty-first century business leader. --L. R. Codey, President, Public Service Electric & Gas Company
With a fine blend of case examples and a practical framework for managers, Wayland and Cole make a compelling case for putting customer relationships at the center of the strategy dialogue. --George Day, Geoffrey T. Boisi Professor at the Wharton School, The University of Pennsylvania
Here, in one place, is all you need to know about winning the battle for the customer in the Information Age. Readers will find Customer Connections both a call--and an invaluable guide--to action. --David Marshall, Chief Information Officer and Senior Managing Director, Bankers Trust
Whether you are a Fortune 1000 manager or an entrepreneur, Customer Connections is a must-read. Wayland and Cole have written a definitive, customer-based strategy text that helps you fundamentally rethink your business and provides the tools you need to maximize return on the customer relationship. --Lois H. Benedetti, Ph.D., Director, Business Planning and Strategy, GTE Long Distance
For those of us who are equally and simultaneously disciples of relationship marketing' and proponents of shareholder value creation, Wayland and Cole have bridged the chasm, delivering powerful insights and balance in a clear, strategic format. A very useful book. --Charles L. Watkins, President, DukeSolutions, Duke Energy's Integrated Energy Services Company
Wayland and Cole offer a solid model grounded in real-world experience. This is a clear, logical way of working through relationship strategies. --Susan Cook, Director, Corporate Product Marketing, Hewlett-Packard CompanyAbout the Author:
Robert E. Wayland is President of Robert E. Wayland & Associates, a corporate strategy consulting firm in Concord, MA.
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