The Customer Centricity Playbook: Implement a winning strategy Driven by Customer Lifetime Value
Peter Fader / Sarah E.
Customer-oriented companies pay attention to the quality of service, promptly solve customer problems, and offer a flexible system of discounts. However, each client has its own unique characteristics, and without taking them into account, even the most client-oriented company can use its resources inefficiently. Peter Fader, professor of marketing at the Wharton School of Business, believes that companies need to adopt a customer-centric strategy to achieve leadership in their industries. The key aspects of such a strategy are full personalization and identification of customers, predicting the behavioral characteristics of specific people, and using an agile approach to managing a client portfolio. A customer-centric approach will help identify the current and future needs of the best customers to maximize their long-term financial value to the company. For the first time in Russian, a book is presented in which all elements of client-centricity are comprehensively analyzed. Its authors, Peter Fader and Sarah Thoms, explain how to properly operate the customer lifetime value (CLV) and relate it to the company's market value, how to invest in sales and marketing wisely, taking into account this indicator. The features of the implementation of the client-centric strategy are considered on the example of such organizations as the large retailer Best Buy, the gaming industry giant Electronic Arts, and the Los Angeles Dodgers baseball club. You will see that customer-centric companies reap the long-term rewards of loyalty from their most valuable customers who purchase the products or services they really need.
