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Angel Customers & Demon Customers: Discover Which Is Which, and Turbo-Charge Your Stockby Larry Selden
Synopses & Reviews
One of the oldest myths in business is that every customer is a valuable customer. Even in the age of high-tech data collection, many businesses don't realize that some of their customers are deeply unprofitable, and that simply doing business with them is costing them money. In many places, it's typical that the top 20 percent of customers are generating almost all the profit while the bottom 20 percent are actually destroying value. Managers are missing tremendous opportunities if they are not aware which of their customers are truly profitable and which are not.
According to Larry Selden and Geoff Colvin, there is a way to fix this problem: manage your business not as a collection of products and services but as a customer portfolio. Selden and Colvin show readers how to analyze customer data to understand how you can get the most out of your most critical customer segments. The authors reveal how some companies (such as Best Buy and Fidelity Investments) have already moved in this direction, and what customer-centric strategies are likely to become widespread in the coming years.
For corporate leaders, middle managers, or small business owners, this book offers a breakthrough plan to delight their best customers and drive shareowner value.
- When not teaching at Columbia, Larry Selden advises CEOs at some of America's leading companies- Geoff Colvin's Wall Street Week with Fortune is one of the most popular national business television programs. His bimonthly column in Fortune is called "Value Driven"
Selden and Colvin show readers how to analyze customer data to understand how to get the most out of the most critical customer segments. The authors reveal how some companies (such as Best Buy and Fidelity Investments) have already moved in this direction, and what customercentric strategies are likely to become widespread in the coming years.
About the Author
Larry Selden is a professor of finance and economics at Columbia University Graduate School of Business as well as a prominent business consultant.
Geoffrey Colvin, the editorial director of Fortune magazine, is the host of the PBS series Wall Street Week with Fortune.
Table of Contents
Angel Customers and Demon Customers Acknowledgments
The Trillion-Dollar Opportunity You're Missing
What It Means—and What It's Worth—to Be Truly Customer Centered
Will This Customer Sink Your Stock?
Understanding How Your Average Customer Creates or Destroys Shareowner Value
The Astonishing Truth About Customer Profitability
The Surprising Things You Discover When You Learn How to "Deaverage" It
Managing Customer Profitability the Right Way
What Your Real Goal Is and a Practical Scorecard to Track Progress
Organizing Around Customers
Why Do It and Why More Companies Don't Do It
The Right Way to Segment Customers
Reconceiving Your Company as a Customer Portfolio
Knowing and Winning Customers
The Beginning of Value Proposition Management
Driving It to the Ledger
Making Value Proposition Management Pay
Becoming Truly Customer Centered
The Nuts and Bolts of Making It Happen in Your Organization
A Better Way to Do M&A
How to Stop Takeovers from Making Shareowners Poorer
Your Action Plan
What to Do on Monday Morning
What Our Readers Are Saying
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