The Customer Revolution: How to Thrive When Customers Are in Control

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9780375417771: The Customer Revolution: How to Thrive When Customers Are in Control

5 CDs/ 6 hours
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The author of Customers.com--widely acknowledged as the most successful and influential book on e-commerce--provides new strategies for success that everyone in business and investing must know.

The changes brought about by the Internet revolution over the past few years are equivalent in scope, drama and impact to the first hundred years of the Industrial Revolution. The question on the mind of everyone in the worlds of business and investing is how should a company be transformed to be one of the winners in the new economy? There's no one better qualified or more experienced than Patricia Seybold to provide insight and guidance. In an audiobook that builds on the foundations she established in Customers.com, Seybold shows that the new economy is the customer E-conomy. Power is going to consumers and the companies that develop a strategy focused on this basic tenet will be the ones that best their competitors in the marketplace and make money.

Patricia Seybold has been on a worldwide quest to find the companies that will win in the new customer E-conomy. Perhaps the most powerful tools Seybold introduces are the new metrics for measuring success. Great customer experience, how good a job the firm is doing in making customer assets grow and how the overall experience of the customers translates into long-term value are the new tools for evaluation taking priority over metrics like margins and sales per square foot.

From investors looking to place their money on the long-term winners to managers of established companies worried about being ambushed by competitors that are one or two steps ahead of them, Seybold provides the insights and strategies for success.

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Review:

It used to be that developing customer relationships in a mass-market economy didn't matter. All a successful company had to do was make products that people generally liked--build it and they would come. Patricia Seybold thinks those days are long gone. Thanks to the Internet, customers matter more than ever, and companies that don't get it simply won't make it. In The Customer Revolution she writes, "For the first time in the history of modern business, it's now cost-effective for companies to establish relationships with each and every customer who wants us to know him."

Seybold outlines the principles of the "customer economy" and looks at 14 companies, including Charles Schwab, Snap-on, and Hewlett-Packard, who are in the process of refocusing their businesses to meet customer needs and expectations by measuring and running their businesses on metrics such as customer satisfaction, acquisition, retention rates, and wallet share. In the customer economy, building brand means more than creating a clever logo--it requires creating an "experience that your customers love." She offers up a set of practices--what she calls a "Customer Flight Deck"--that allows companies to monitor and tune the success of their customer contacts. Customer relationships are so important, Seybold believes that a new metric of corporate reporting will emerge alongside profit and loss, return on assets, and P/E ratios--one she calls a "Customer Value Index" designed to give investors the means to measure a company's performance by looking at the present and future value of its customer base. As with her previous book Customers.com, The Customer Revolution should be required reading for managers at any company--old or new--who are assessing the real impact of the Internet on their businesses. Highly recommended. --Harry C. Edwards

From the Back Cover:

"Think you're in charge of your company's future? Not so fast. Patricia Seybold proves that the wealth embedded in customer relationships is now far more important than all the capital contained in your firm's land, buildings, and bank accounts. Then she crafts a smart and solid plan for untangling the tricky puzzle of finding, attracting, and keeping the savviest buyers the world has ever seen."
-- James Daly, editor in chief, Business 2.0

"As offline and online businesses blend, the ability to build deep customer relationships equates to long-term survival. Patricia Seybold explains why and how to 'play to profit.' "
-- Chris McCann, president, 1-800-FLOWERS.com

"Wherever repeated transactions represent the core rhythm of a business, management must focus on the lifetime value of its customers and the company's programs for creating and sustaining customer loyalty. The Web simply makes this imperative even more urgent. The Customer Revolution makes great use of war stories and case examples to guide us all in seeing just how to address this critical issue."
-- Geoffrey Moore, author of Crossing the Chasm and Living on the Fault Line

"Patricia Seybold provides practical guidance on how to make customer loyalty the centerpiece of your company's strategy. She not only shares the logic, but also gives real-world examples of how to make it a reality."
-- John R. Samuel, Vice President e-Business, American Airlines

"Understanding and managing customer relationships lie at the core of how companies are defining strategy, measuring profitability, and creating competitive advantage. Patricia Seybold details how to begin doing this in your company immediately."
-- Jeet Singh, CEO, Art Technology Group

"Patricia Seybold details the steps you and I must follow to transform customer capital into shareowner value in her compelling, convincing new book."
-- C. Patrick Garner, CEO, The Motley Fool, Inc.

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