by Sunil Gupta, Donald Lehmann
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Product Description
What's a customer really worth? Can you find out, without endlesslycomplex modeling? And once you know, what should you do with thatknowledge? Managing Your Customers as Investments has the answers.You'll learn simple ways to get reliable customer value information--ina form you can use. You'll discover how to use it to measure marketingeffectiveness, generate improvements throughout the entire customerrelationship lifecycle, and improve decision-making. Everyone tells youto manage your business around customers. This book gives you the toolsto do it.
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Average Customer Review:
0 of 0 people found the following review helpful:
 Good Quality, Poor Quantity, 2007-09-19
The substance of the information presented was genuinely useful knowledge. The first 2 or 3 chapters really give a good analysis of the value of a customer. The extensive examples that follow are merely verbose repetitions of the previously presented (and actually well supported) concepts. Sadly there is not a Harvard Business Review for this book, but there should be, to cut down on absorbtion time. Not a waste of money, but perhaps time.
0 of 0 people found the following review helpful:
 Very interesting customer life time model but a bit weak in customer strategy level, 2007-03-16
Book is centered around understanding customer life time value and what is the required mind set and strategy to drive customer life time value as a business driver.
Life time value model is very very interesting because of its simplicity yet usability - I plan to use it. However where the book is no delivering is its strategy angle. Customer strategy is too much simplified as how do you drive customer acquisition and retention with different programs highlighting the loyalty programs (and also setting some question marks on it). What the book does not address is the core mindset of customer driven business strategies: How companies should understand the business they are in from outside in view i.e. from customer side: what is the category we are in, what is the mindshare we have among our customers, how are we integrating our business and the offerings to our customers' businesses and lifes, what alternative business models we have to drive life time value.
But because the life time value is useful and the book as total is rather enjoyable to read I recommend this book
0 of 0 people found the following review helpful:
 The Customer Lifetime Value approach to business strategy, 2006-12-18
"Managing Customers..." does a wonderful job of providing a holistic approach to customer lifetime value (CLV).
Founded on the principle of viewing customers as assets, the book provides a super-efficient, highly-impactful read on transforming the CLV principle into actionable tactics in key aspects of business - fusing marketing, finance, and organizational structure into a well-aligned strategy for enabling a business to maximize the value it creates & derives from customers. Truly a must read for students of business.
On a side note - just wanted to express how impressed I have been with all of The Wharton School books that I have read to date - they are truly some of the finest business books available.
0 of 0 people found the following review helpful:
Highly recommended to all marketing executives, 2006-07-12
How much are your customers worth? If financiers and investors had bothered to ask themselves this basic question, they might have prevented the Internet bubble and other expensive corporate mistakes. Such disasters can occur when people invest in businesses with no earnings and fanciful business models. Authors and professors Sunil Gupta and Donald Lehmann make a powerful case that executives should abandon outdated business-evaluation models based on traditional financial metrics, such as cash flows. Instead, they should rely on the present and future value of their businesses' customers: the "customer's lifetime value," or CLV. The authors discuss these issues in understandable language and buttress their arguments with formulas that will enable marketers to implement their ideas. They also provide helpful examples that are like mini business-school case studies. We highly recommend this book to all marketing executives, as well as to executives who are financially responsible for mergers and acquisitions, or advertising. This book could change the way you do business and increase your earnings from your best customers.
6 of 6 people found the following review helpful:
Important metrics for effective customer management, 2005-12-12
Are you spending more on your customers than they are worth? That is the question these authors attempt to answer in this book. Whether it is acquisition cost or retention cost many businesses may be spending too much on their customers. As with all investments there is a time to increase investment, a time to hold them, and a time to let them go. This is a detailed analysis of how to develop metrics for your company that help determine customer value. With increasing customers there are increasing costs. Once you have developed your metrics they show how to use that information to determine things like customer lifetime value. Once you know their lifetime value you can make effective marketing and management decisions related to your customers. You have to manage your customers in order to manage your business. Now you can determine how to best manage your customers. A practical approach to managing customers that is both effective and easy to apply while providing real results. Managing Customers as Investments is a recommended read for all marketing and customer-centric managers as well as all corporate executives.
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