Customer Engagement Marketing

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This book provides a synthesis of research perspectives on customer engagement through a collection of chapters from thought leaders. It identifies cutting-edge metrics for capturing and measuring customer engagement and highlights best practices in implementing customer engagement marketing strategies. Responding to the rapidly changing business landscape where consumers are more connected, accessible, and informed than ever before, many firms are investing in customer engagement marketing. The book will appeal to academics, practitioners, consultants, and managers looking to improve customer engagement.
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About the author

Robert W. Palmatier is Professor of Marketing at the University of Washington, USA. He is the Editor-in Chief of Journal of Academy of Marketing Science.
V. Kumar (VK) is the Regents Professor, Richard and Susan Lenny Distinguished Chair, and Professor in Marketing at Georgia State University, USA. VK has published over 250 articles, 25 books and has received over 25 Research and Teaching Excellence Awards.
Colleen Harmeling is Assistant Professor of Marketing and Dean’s Emerging Scholar at Florida State University, USA. Her research has appeared in Journal of Marketing, Journal of International Business Studies, Marketing Science Institute Working Paper Series, and has been presented at numerous marketing conferences.
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Additional Information

Publisher
Springer
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Published on
Aug 29, 2017
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Pages
328
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ISBN
9783319619859
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Language
English
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Genres
Business & Economics / Customer Relations
Business & Economics / Management
Business & Economics / Marketing / Research
Business & Economics / Public Relations
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Content Protection
This content is DRM protected.
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“This is a milestone book in marketing. Most companies claim they are focused on customers, but even those who are, probably do not take a scientific approach to customer management. Professor V. Kumar is the acknowledged expert on the science of customer management. This important book raises all the key questions in managing customers, provides the analytical tools for optimization, and illustrates these tools with a number of company examples.”

—Philip Kotler, S. C. Johnson Distinguished Professor of International Marketing, Kellogg School of Management, Northwestern University

“Delivering lasting client value is at the heart of profitable businesses today. Managing Customers for Profit provides a compelling, empirically-tested approach to significantly enhance traditional customer relationship management initiatives. I highly recommend this book to all those interested in cultivating lasting profitable growth relationships with current and future clients.”

—Tim Bohling, Vice President, Market Intelligence, IBM Americas

“Executives are too often guided by backward-looking, short-term metrics. This book shows how a focus on Customer Lifetime Value (CLV) can change management toward long-term results by providing a fresh perspective on customer targeting, retention, and loyalty. Highly recommended—it shows you the way toward strategic customer thinking.”

—Dave Aaker, Vice-Chairman, Prophet, Author of Brand Portfolio Strategy

This book shows you how.

Leading marketing expert V. Kumar shows how to use Customer Lifetime Value (CLV) to target customers with higher profit potential…manage and reward existing customers based on their profitability…and invest in high-profit customers to prevent attrition and ensure future profitability. Kumar introduces customer-centric approaches to allocating marketing resources for maximum effectiveness…pitching the right products to the right customers at the right time…determining when a customer is likely to leave, and whether to intervene…managing multichannel shopping… even calculating a customer’s referral value.

Drawing on his extensive experience consulting with world-class marketing organizations, Kumar illuminates the challenges of transitioning from a product-centric to a customer-centric approach and presents proven solutions. Simply put, this book’s techniques offer marketing executives a complete framework for linking their investments to business value—and maximizing the lifetime value of every single customer.

Foreword xiii

Preface xv

Acknowledgments xviii

About the Author xix

Chapter 1: Introduction 1

Chapter 2: Maximizing Profitability 11

Chapter 3: Customer Selection Metrics 29

Chapter 4: Managing Customer Profitability 59

Chapter 5: Maximizing Customer Profitability 75

Chapter 6: Managing Loyalty and Profitability Simultaneously 93

Chapter 7: Optimal Allocation of Resources across Marketing and Communication Strategies 113

Chapter 8: Pitching the Right Product to the Right Customer at the Right Time 127

Chapter 9: Preventing Attrition of Customers 143

Chapter 10: Managing Multichannel Shoppers 163

Chapter 11: Linking Investments in Branding to Customer Profitability 187

Chapter 12: Acquiring Profitable Customers 205

Chapter 13: Managing Customer Referral Behavior 223

Chapter 14: Organizational and Implementation Challenges 249

Chapter 15: The Future of Customer Management 267

Index 283

The Art of Public Speaking is a fantastic introduction to public speaking by the master of the art, Dale Carnegie. Public speaking is the process of speaking to a group of people in a structured, deliberate manner intended to inform, influence, or entertain the listeners. It is closely allied to "presenting", although the latter has more of a commercial connotation.

In public speaking, as in any form of communication, there are five basic elements, often expressed as "who is saying what to whom using what medium with what effects?" The purpose of public speaking can range from simply transmitting information, to motivating people to act, to simply telling a story. Good orators should be able to change the emotions of their listeners, not just inform them. Public speaking can also be considered a discourse community. Interpersonal communication and public speaking have several components that embrace such things as motivational speaking, leadership/personal development, business, customer service, large group communication, and mass communication. Public speaking can be a powerful tool to use for purposes such as motivation, influence, persuasion, informing, translation, or simply entertaining. A confident speaker is more likely to use this as excitement and create effective speech thus increasing their overall ethos.

Dale Breckenridge Carnegie (originally Carnagey until 1922 and possibly somewhat later) (November 24, 1888 – November 1, 1955) was an American writer, lecturer, and the developer of famous courses in self-improvement, salesmanship, corporate training, public speaking, and interpersonal skills. Born in poverty on a farm in Missouri, he was the author of How to Win Friends and Influence People (1936), a massive bestseller that remains popular today. He also wrote How to Stop Worrying and Start Living (1948), Lincoln the Unknown (1932), and several other books.

Perhaps one of Carnegie’s most successful marketing moves was to change the spelling of his last name from “Carnagey” to Carnegie, at a time when Andrew Carnegie (unrelated) was a widely revered and recognized name. By 1916, Dale was able to rent Carnegie Hall itself for a lecture to a packed house. Carnegie's first collection of his writings was Public Speaking: a Practical Course for Business Men (1926), later entitled Public Speaking and Influencing Men in Business (1932). His crowning achievement, however, was when Simon & Schuster published How to Win Friends and Influence People. The book was a bestseller from its debut in 1936, in its 17th printing within a few months. By the time of Carnegie's death, the book had sold five million copies in 31 languages, and there had been 450,000 graduates of his Dale Carnegie Institute. It has been stated in the book that he had critiqued over 150,000 speeches in his participation in the adult education movement of the time. During World War I he served in the U.S. Army.

One of the core ideas in his books is that it is possible to change other people's behavior by changing one's reaction to them.
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