September 2006Keeping up with your customers
The Edge Malaysia 9/3/2006
by Satish Shankar and James Allen
The face of marketing in the 21st century has changed. Future generations of consumers will have more discretionary income, less time, and more choices. The same person that purchases an Armani suit on Tuesday will be found bargain hunting on Saturday. Customers in this cross-category world want good customer experiences, not just products. But how do companies put consumers at the heart of the organization? Bain & Company experts know how.
Go to The Edge Malaysia
August 2006 Crezca em forma sostenida
Management Herald (Argentina) 8/1/2006
by Rodolfo Spielmann
Rodolfo Spielmann speaks about Net Promoter Score methodology and other relevant concepts covered in the book "The Ultimate Question" by Fred Reichheld.
PDF of full text available in Spanish
Spanish language
July 20067 things firms need to know
The Straits Times 7/22/2006
by Edmund Lin and James Allen
The days of traditional marketing may be numbered. The new generation of marketing tools that address all of the three Ds - design, deliver and develop - is not coming out of consumer goods companies, but rather from technology, telecoms and financial services - industries where the leaders have a multi-dimensional view of customers. Marketing in the 21st century is all about delivering outstanding customer experiences, not psychographic segmentation.
January 2006 The microeconomics of customer relationships
MIT Sloan Management Review 1/1/2006
by Fred Reichheld
Despite considerable research on customer retention and word-of-mouth referrals, it has always been difficult quantifying their contributions to the bottom line. Using a metric known as Net Promoter ® Score, Bain author and loyalty expert Fred Reichheld believes firms can now measure the dollar value of customers based on satisfaction levels.
October 2005 The customer-led bank
Bain Brief 10/21/2005
by Cornel Wisskirchen, Dirk Vater, Tim Wright, Philippe De Backer and Christine Detrick
Retail banks have long flourished by following a business approach that would spell trouble in virtually any other competitive industry: paying scant regard to the care and nurturing of their best customers. But that charmed existence is coming to an end. Customer defection rates are up, as are the costs of acquiring and retaining new customers. On average, bank customers are three times less likely to recommend their bank to a friend than they are to recommend any other service provider.
September 2005Closing the delivery gap
Bain Brief 9/27/2005
by James Allen, Frederick F. Reichheld, Barney Hamilton and Rob Markey
Most companies assume they're consistently giving customers what they want. Usually, they're kidding themselves. When we recently surveyed 362 firms, we found that 80% believed they delivered a "superior experience" to their customers. But when we then asked customers about their own perceptions, we heard a very different story.
February 2005Consumer 2020
Global Agenda 2/1/2005
by James Allen and Darrell Rigby
Tomorrow's consumers will not easily be segmented. "High end" customers will sometimes buy cheap goods and "low end" seek the occasional luxury experience. To keep up with consumers, tomorrow's competitors will need to anticipate this "crossover" buying behaviour. And they'll have to prepare for cross-category competition, which leads consumers to make trade-offs not within categories (this candy bar versus that one), but between categories as different as confectionery goods and cell phones - in a world with just so many spare minutes and so much pocket money.
January 2004The real meaning of loyalty - the key to growth
Customer Management 1/1/2004
by Frederick F. Reichheld and Philip J. Deane
Customer loyalty is still the Holy Grail for customer service and management leaders, and gaining and keeping loyal customers is increasingly recognised as the key to business growth. So what does it all mean and how can we achieve it?
To find out more about Customer Management and how to subscribe visit www.customermanagementonline.com or email subscriptions@quest-media.com.
December 2003Asian operators must prioritise retention
Cards International 12/16/2003
by Ed Lin and Benjamin Way
Getting new customers was the easy part. Now the challenge for Asia's credit card companies is getting the right customers - and holding onto them. The best way to win in the increasingly cutthroat environment is to develop a loyal customer base.
November 2003RBC Experiment Points Way for Branches to Serve Poor
American Banker 11/14/2003
by Chris Dawson and Christine Detrick
Like many businesses, banks have had trouble figuring out how to serve low-income neighborhoods. It is easy to understand why. Conventional business thinking says you should focus on your most profitable customers, and those with lower incomes cannot afford your services. Many banks simply cannot find a way to create a viable business in this sector. For years community groups across North America have tried to figure out how banks can change this. A Royal Bank of Canada initiative may point the way.
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