Implementing a Winning Strategy Driven by Customer Lifetime Value
Peter Fader and Sarah Toms
HOW DID GLOBAL GAMING COMPANY ELECTRONIC ARTS GO FROM BEING NAMED “WORST COMPANY IN AMERICA” TO CLEARING A BILLION DOLLARS IN PROFIT?
They discovered a simple truth—and acted on it: Not all customers are the same, regardless of how they appear on the surface. The most successful companies, from Amazon to Best Buy, understand their best customers are their most valuable asset, and they tailor their acquisition, development, and retention efforts to those customers.
In The Customer Centricity Playbook, Wharton School professor Peter Fader and Wharton Interactive’s executive director Sarah Toms help you see your customers as individuals rather than a monolith, so you can stop wasting resources by chasing down product sales to each and every consumer.
Fader and Toms offer a 360-degree analysis of all the elements that support customer centricity within an organization. In this book, you will learn how to:
- Develop a customer-centric strategy for your organization
- Understand the right way to think about customer lifetime value (CLV)
- Finetune investments in customer acquisition, retention, and development tactics based on customer heterogeneity
- Foster a culture that sustains customer centricity, and also understands the link between CLV and market valuation
- Understand customer relationship management (CRM) systems, as they are a vital for all these areas through the valuable insights they provide
Fader’s first book, Customer Centricity, quickly became a go-to for readers interested in focusing on the right customers for strategic advantage. In this new book, Fader and Toms offer a true playbook for companies of all sizes that want to create and implement a winning strategy to acquire, develop, and retain customers for the greatest value.