Customers are in control. Today most of the customers want both ¡§low prices and good services¡¨. How can a company survive and thrive in such customer economy? Transformed to customer-centric company is a must. This book teaches us how a company can successfully transform to customer-oriented company. Structurally, this can be divided into three parts and each part will have several well-know company as an examples:
Firstly, Seybold analysis how customer control business in terms of convenience, control and transparency.
Secondly, Seybold introduce the concept of ¡§customer franchise¡¨ (which means Total lifetime value of the current and expected future customers discounted back to the present) and explain how vital this concept is.
Thirdly, Seybold recommends building customer relationship is the basic element. In order to create, maintain and sustain a long-lasting customer relationship, seven factors are introduced, including, 1) Time, 2)Matters to customer 3) Brand personality, 4) Focus on customer¡¦s DNA, 5) Deliver a seamless experience, 6) Morph and 7) Execution.
Comment:
Advantages:
1. Insightful
For students who do not have much practical experiences, this book really give me a lot of insights. For example, I understand the trend of future market will tend to customer-oriented. Also, I understand it will put all company in a difficult position if company cannot put themselves in customer shoes.
2. Can apply in different situation
Also, the concept introduced by this book is useful and can be applied in different industries, companies and countries. For example: customer franchise and the seven critical factors.
3. Practical case studies
In addition, all these concepts will be supported by practical case studies which analysis by author from inside-out. For example, author will explain the background of a company first, then explain what does that company do in order to survive and thrive in this customer economy together with their actual result, at last, author will evaluate the disadvantages and advantages of that company policies and strategies.
Disadvantages:
1. Provide linkage and relationship
In my opinion, there still have room to improve. First of all, from the student point of view, the structure of this book can be more simple and clear. It is better to provide more relationship between each chapter. Sometimes, it is hard for me to follow the concepts since
2. The concepts of ¡§Customer Flight Deck¡¨
Also, the concept of ¡§Customer Flight Deck¡¨ is rather ambiguous. It is better to explain it in a more simple and practical way. Besides, author fails to provide strong evidence and reason why a company should take action to implement ¡§Customer Flight Deck¡¨. It is better to explain more and provide more supported details why that company can be improved by a recommended ¡§Customer Flight Deck¡¨.
If you read this book and feel you need to break down your customers to the agonizing details that she has developed, I feel sorry for your investors. There is no way for a company that follows her advice to become or remain profitable. The only conclusion would be that you need her consulting services because there's no way you could do it yourself.
Don't waste your time and money reading this book.