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Type of bind: Hardcover
Dewey Decimal Number: 658.812
EAN num: 9780385510301
ISBN number: 0385510306
Label: Broadway Books
Manufacturer: Broadway Books
Quantity: 1
Page Count: 304
Printing Date: June 21, 2005
Publishing house: Broadway Books
Release Date: June 21, 2005
Sale Popularity Level: 344086
Studio: Broadway Books
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Product Description:
Internationally acclaimed business gurus and best-selling authors Don Peppers and Martha Rogers kicked off the CRM revolution and changed the landscape of business competition with their classic bestseller, The One to One Future. Now, in Return on Customer, they have written an even more revolutionary book, redefining the very concept of what it means to be “profitable” as a business.
Virtually every manager agrees that a company’s most vital asset is its customer base – the lifetime values of all its current and future customers. Yet when companies track their financial results, they rarely take into account any change in the value of this critical asset. As a result, managers remain blind to one of the most significant factors driving genuine, lasting business success, and instead become preoccupied with achieving short-term financial goals.
Return on Customer is the very first book to focus on how firms create value, not just by driving current profits, but by preserving and increasing customer lifetime value. In a powerful blend of theory and practice, Peppers and Rogers demonstrate how to create shareholder value more efficiently by concentrating on Return on Customer(SM), a revolutionary business metric focused on a company’s scarcest resource – customers. By paying close attention to Return on Customer, companies can improve their profits while still conserving and replenishing long-term enterprise value.
Relying on their years of experience working with many of the world’s leading companies, Peppers and Rogers take readers far beyond marketing, sales, and service. Return on Customer will revolutionize how companies think about their basic competitive strategy, product development efforts, and even the issue of business ethics and corporate governance.
Return on Customer(SM) is a registered service mark of Peppers & Rogers Group, a division of Carlson Marketing Group, Ltd.
“To remain competitive, you must figure out how to keep your customers longer, grow them into bigger customers, make them more profitable, and serve them more efficiently. And you want more of them.
Unfortunately, the financial metrics you learned in business school are not easily adapted to account for the value companies generate from this scarce resource, with the right balance between current-period sales and customer lifetime value. But striking that balance is necessary if you want to know whether you’re better off investing in customer acquisition, or in product development, or opening new stores, or plant efficiency, or better qualified personnel, or more service, or cost reduction. While you may believe in your heart that a particular decision creates shareholder value, there’s no financial metric currently available to tell you how much shareholder value you actually created, or even whether you created any at all.
But Return on Customer can help you. Return on Customer is a breakthrough financial metric that can quantify the actual shareholder value you are creating (or, possibly, destroying) with your various business actions and initiatives.”
—from Return on Customer
User popularity level:
Rated by buyers 
-
Thirteen years ago, Peppers and Rogers' "The One to One Future" moved customer status from that of corporate pawn to valuable partner. Ensuing books - theirs and others - refined and facilitated that strategy.
Now "Return on Customer" justifies the customer a seat and powerful vote on the board. It provides principles, compelling logic and financial rationale that management, analysts and investors can utilize, develop and apply within their corporation. Moving mountains isn't easy, "Return on Customer" goes a long way to fuel that shift.
Rated by buyers 
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So many managers read the 1-1 rubbish and wasted millions on CRM systems that were ill conceived and poorly managed.
And now the same people take their old 1-1 idea and add customer lifetime value (LTV). While there's no arguing that LTV is important, the authors do not illuminate how it works or why it's important. The book could have delivered its message in a 5 page article.
A real problem, and a practical one "where do these numbers come from" is left unanswered. It's frustrating and disappointing that the Peppers & Rogers buzz-marketing machine has deflected so much attention to themselves and away from better books on similar topics.
Suggested reading:
- Customer Equity (Blattberg)
- Marketing and the Bottom Line (ISBN number: 0273661949)
- Marketing Payback (ISBN number: 0273688847)
Rated by buyers -
Except the very equation of ROC which is a natural extension of ROI, and chapter 12 on data privacy issue that are quite unique in themselves, it is by far the worst book of its kind I had read within the last 30 days, amongst them "Technology and Customer Service" by Paul Timm, "Customer Share Marketing" by Tom Osenton, "The Dollarization Discipline" by Jeffery Fox, "Loyalty Rules" by Frederick Reichheld and "The Customer Loyalty Solution" by Arthur Hughes. I quoted those names not to boast anything, but to express my strong disappointment and frustration against this book or the authors, that I really feel being cheated of my valuable time and price of the book. I sincerely recommend you to look for something much better, which is so easy to find, if you truly want to learn CRM.
Rated by buyers -
This shall be an interesting short article not a book. Too much padding. Any high school grad can easily summarize it in a one single A4 page. Disappointing since written by serious people.
Managing Your Customers as Investments, an Amazon book by GUPTA and LEHMAN is uncomparably better.
Rated by buyers -
There's so much written out there about customer loyalty, and so much of it is the same song n' dance. Fact is, so few of the loyalty gurus go to the place of bridging the vision and the tactics. Don and Martha have taken the tried-and-true tenets of customer value and customer loyalty and wrapped some measures around them so that executives, shareholders, and board members can begin understanding--and measuring--the value of their customer assets.
As with their other works, the authors offer a mixture of new ideas and real-world examples to bring their concepts home. The complexity of the work and thought required to understand not only customer interactions and behaviors, but there intentions, is explained via a clear and powerful framework that transcends marketing and advertising, and goes straight to the bottom line. I appreciated the book's organization, and the comprehensive end-notes were a nice annotation and background to the authors' thought processes and research.
Another successful work by two pioneers who will continue to propel customer focus forward!
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