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Who Stole My Customer?? Winning Strategies for Creating and Sustaining Customer Loyalty

Who Stole My Customer?? Winning Strategies for Creating and Sustaining Customer LoyaltyAuthor: Harvey Thompson
Publisher: FT Press
Category: Book

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Rating: 4.5 out of 5 stars 4 reviews
Sales Rank: 1147491

Media: Paperback
Pages: 224
Number Of Items: 1
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Dimensions (in): 8.9 x 6 x 0.6

ISBN: 0131453564
Dewey Decimal Number: 658.8343
UPC: 076092025795
EAN: 9780131453562
ASIN: 0131453564

Publication Date: February 15, 2004
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Editorial Reviews:

Product Description

Who Stole My Customer?? offers unique and powerful insights into the world of acquiring and retaining customers. Most importantly it provides new approaches to keeping existing customers from defection. A must-read in today's challenging business environment.–Dieter Huckenstein, President, Hotel Operations, Hilton Hotels Corporation

Harvey Thompson probably knows more about how companies should work with customers than anyone else in the world. In an age when computers and mass communications makes it difficult to keep or attract new customers, Thompson's insights on what managers must do to keep them makes this one of the most important business books published this year. Clearly must reading for all levels of management.–James W. Cortada, IBM Institute for Business Value

Harvey Thompson has done it again with this well-written book that offers valuable insights about the roots of sustained corporate greatness. He captures a lifetime of building winning formulas and puts them into a simple and practical context for executives at any level looking to take their business to the next level in the 21st century.–Mark R. Richards, President, Structures Division, Valmont Industries, Inc.

One of the leading causes of the rapid turnover of marketing and sales executives isn't the economy, it's the ignored cancer of customer attrition. Who Stole My Customer?? takes on this challenge head-on and tackles it from a pragmatic perspective with actions you can take today.–Louis Columbus, Senior Analyst, AMR Research

I think Harvey Thompson really understands how customers feel about products and services-for better or worse! His central point is well taken-take care of them now or lose them to competitors who are more in tune with your customers' needs and wants. This book helps us remember that we must build our offerings from the 'outside in' to build customer loyalty and minimize defection. Thank you, Mr. Thompson!"–Bill Ghormley, Executive Consultant, The Forum Corporation, and Past President, The Marketing Science Institute

A start-to-finish program for addressing your #1 challenge: customer retention

Who's stealing your customers? Why is it happening? How can you stop it? These are the toughest questions facing virtually every enterprise. Who Stole My Customer?? is your complete guide to planning and implementing customer loyalty processes that really work-because they're built around what your customers really want.

Harvey Thompson helps you view your business and its processes through your customer's eyes … and you might be shocked at what you see. You'll systematically discover the real drivers of customer loyalty in your business, so you can focus your customer relationship investments for maximum value. Drawing on his unsurpassed experience at IBM and other world-class enterprises, Thompson shows exactly how to rebuild every touchpoint around your customer's needs … and overcome every obstacle that stands in your way. You won't just improve customer retention for a quarter or two: you'll build resilient customer relationships that resist competition for years to come.

Current customers are up to nine times as profitable as new ones, but keeping customers has never been tougher. Traditional "customer satisfaction" programs and "Have a Nice Day" platitudes won't cut it anymore. It's time you developed a customer-defined, outside-in vision of your business, plus the capabilities and infrastructure to make it real. Who Stole My Customer?? shows you how to do it. Harvey Thompson led customer-focused process improvement at Lou Gerstner's IBM, helping to drive one of the greatest transformations in business history. Drawing on his experiences with IBM and other world-class enterprises, he'll help you discover how your customers have changed, what they're expecting now, which facets of customer satisfaction actually drive loyalty … and where you're most vulnerable.

Next, Thompson shows you exactly what to do about it. You'll learn how to engineer a winning customer experience around your customer's view of the world, and how to "institutionalize" loyalty, making it resilient enough to resist virtually any competitor.

  • A systematic, customer-centered approach to retention. Rebuilding your processes around your customer's real needs and desires.
  • Your customers have changed. Have you? Why your traditional strengths may now be fatal weaknesses.
  • Investing to improve loyalty, not just satisfaction. Which aspects of customer satisfaction drive retention-and which don't.
  • Different drivers for different customers. Segmenting your customers for improved retention.
  • From vision to reality. Implementing world-class customer loyalty capabilities and infrastructure.
  • "Institutionalizing" customer loyalty for the long term. Staying "glued" to your customers-no matter what your competitors do.



Customer Reviews:
5 out of 5 stars Finally an author that really "gets it"   August 5, 2004
Robert Wm Dean (Chicago, IL USA)
2 out of 2 found this review helpful

A second book by author Harvey Thompson that shows his mastery of the real meaning of customer value and loyalty. Harvey balances his real world expertise and examples with an easy to understand approach for how to relate to your customers/clients.

Simply one of the best books I have read on the subject. I highly recommend this book for anyone wanting to learn more about how to develop and maintain a valuable relationship with your customers/clients.



5 out of 5 stars Insightful, practical, actionable, simply brilliant!   October 7, 2004
Michael Shank (Ocala, FL USA)
Want to know where your customers have gone and how your competitor got them? Better yet, want to be the competitor with those customers? Read this book.

Harvey Thompson has written an outstanding book that combines his global, multi-industry real world experience and some of the best thinking in business and academics (Jan Carlsen, Dr. Noriaki Kano, Dr. Valerie Zeithamel, Dr. John Henderson, Dr. N. Akao, Dr. Michael Hammer, Dr. Terry Vavra, Dr. William H. Davidson and Dr. James W. Cortada) into a tour de force on customer value. Moving way beyond concepts of customer satisfaction, Thompson very pragmatically helps you understand how to design highly successful businesses from the customer view in. This book advances the groundbreaking work of his first book, The Customer Centered Enterprise, and in many ways is more readable, more practical and more actionable.

This quick read provides very pointed questions, exercises, information and motivation to help any organization move closer to a customer defined ideal vision of a value creating future state. It encompasses business strategy, customer loyalty, company culture, and operational excellence in ways that few works attempt, much less achieve. If customer loyalty and retention are important to your organization and you want to gain some real insight into today's strategic imperatives - start right here. Part 4: "The Winning Customer Experience" alone is worth the price of admission. It should be required reading for every management team.



5 out of 5 stars Finally someone who really 'gets it'   May 19, 2006
Robert Wm Dean (Chicago, IL USA)
0 out of 1 found this review helpful

A second book by author Harvey Thompson that shows his mastery of the real meaning of customer value and loyalty. This book is clearly targeted to CEO's and other executives who want to learn more about how to get and keep customers/clients - not someone who thinks they are currently a master of the subject.

Harvey balances his real world expertise and examples with an easy to understand approach for how to relate to your customers/clients. Simply one of the best books I have read on the subject. I highly recommend this book for anyone wanting to learn more about how to develop and maintain a valuable relationship with your customers/clients.



3 out of 5 stars A so so strategic CRM book for CEOs.   February 21, 2006
ServantofGod
1 out of 1 found this review helpful

Dont know whether I had read so many CRM books beforehand that I am not particulary impressed nor disappointed by it. The author, an ex IBM executive, draws upon his "reengineering" experience in dealing primarily within IBM and with many big banking/auto clients, tells the importance, difficulties and high level strategies of transforming a product oriented corp into a solution/customer/touchpoints service value oriented corp.

In short, you may be enlightened if you have not read any CRM book before. If you are a frequent reader of CRM books, you wont lose much for giving this a pass.

As usual, below please find some of my favorite passages for your reference.

Businesses often expend precious energy and limited resources trying to address customer satisfaction levels on things that have no correlation between whether they will buy again or leave....They fail to differentiate between customer satisfaction and customer loyalty, between satisfaction or loyalty measurement and satisfaction or loyalty management. pg 40

What is your definition of loyalty? When do you most feel that you are being loyal? Is it when you return to buy as a repeat customer...and buy additional...giving them an increased share of your total wallet spending?...What is it that they provide of such value that they win your loyalty? If they did not not provide that, would you be more likely to leave/defect and be stolen away as their customer? pg 61

The Ten Common Myths. Our customrs:- pg 102
1. Want the lowest price - period
2. Other key wants are known by us
3. Cannot envision what does not exist
4. Do not want to be telephoned at home - always
5. Do not want to be sold to when they call us
6. Do not want to provide us personal information
7. Hate to be transferred when they call
8. Wont accept an apology, so dont do it
9. Are unique, and so are their needs
10. Their needs (not wants) are known by us

Lessons learned during the transformation of IBM:- pg 161
1. A case for action and buy-in vs lack of urgency
2. Actionable customer input vs we know what customers want
3. Enterprise wide executive ownership vs optimize my silo
4. cultural transformation and teaming vs knowledge is power.

p.s. I am obliged to remark that the title "Who stole my customer?" and the excercise in the end of each chapter "You are the customer. What...?" are brilliant differentiators of it amongst its sea of competitors.