A company exists to make profit, and everything it does is merely a step towards that goal. Many are trying to get closer to their customers, but few realise how crucial this is to corporate value. Indeed, the value of a company is perhaps best described as the sum of future profits from customers, discounted to a present value. Now, with that in mind, imagine a company that could discover and nurture its most profitable customers, and see actual cash flows for each relationship. It would know exactly where it was headed and how to get there. By fully implementing the Customer Management Integration Framework delivered in this book, any company can achieve this, and manage its key customers to deliver higher and more resilient levels of profitability.
Book Details:
- Author: John J. Murphy
- ISBN: 9780470016343
- Year Published: 2006
- Pages: 410
- BISAC: BUS019000, BUSINESS & ECONOMICS/Decision-Making & Problem Solving
About the Book and Topic:
A company exists to make profit, and everything it does is merely a step towards that goal. Many are trying to get closer to their customers, but few realise how crucial this is to corporate value. Indeed, the value of a company is perhaps best described as the sum of future profits from customers, discounted to a present value. Now, with that in mind, imagine a company that could discover and nurture its most profitable customers, and see actual cash flows for each relationship. It would know exactly where it was headed and how to get there. By fully implementing the Customer Management Integration Framework delivered in this book, any company can achieve this, and manage its key customers to deliver higher and more resilient levels of profitability.
The book links two hot topics in business – CRM and corporate value. Many organizations are trying to get closer to their customers, but few grasp the true impact this could potentially have on their bottom line. In partnership with the Customer Management Leadership Group, the authors analysed 10 major companies. They found that some of their approaches were indeed being used, but in a piecemeal and incoherent fashion. This book was considered the best way to convey their message of integrated customer management to a wider audience.
A important work, linking customer management directly to company profitability for the first time Provides a framework for the three main processes relating to customers: acquisition, retention and development Outlines the widely misunderstood and misapplied concept of customer analysis, with practical examples and non-accounting jargon Provides practical tools to implement what has been learned, and a clear route to the development of a profitable path for growth
About the Author
John Murphy is Visiting Professor of Customer Management and Director of Development at Manchester Business School, UK, combining the roles of academic and consultant specializing in customer retention. He has held many management positions in the UK and Ireland, holds five professional fellowships and is a member of the IAQ. He is the author of four books, most recently The Lifebelt (0471498181). Jamie Burton is Research Director for the Customer Management Leadership Group at MBS, and lectures in Marketing, International Business and Qualitative Methods. Robin Gleaves and Jan Kitshoff have a consultancy which focuses on customer profitability analysis, kitshoffgleaves. They worked with John Murphy on a benchmarking project which led to this book.