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| Posted on 06/28/2012 by
Don Peppers and Martha Rogers, Ph.D. |
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| Trustability: a Capitalist Tool |
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"No one would remember the Good Samaritan if he'd only had good intentions. He had money, too." -Margaret Thatcher
The clash between trustability and a company's own short-term financial interest is real. It is a serious and continuing obstacle to be overcome, and we don't want to minimize it. Urging companies simply to "do the right thing" isn't likely to change how management sees the world. The profit motive does that. But trustability is actually a tool for generating the kind of profits that ought to be beloved by any good capitalist.
And luckily, trustability is a very big tool, because the profitability issue is a very big nut to crack. The U.S. retail banking industry generated some $36 billion in bank fees in 2006 alone, according to a GAO report, which means about half of all the i... 
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| Posted on 06/22/2012 by
Don Peppers and Martha Rogers, Ph.D. |
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| How Trustable Companies Use Customer Insight |
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It's a reasonable bet that very few customers would want to pay $25 a month for AOL's dial-up ISP subscription - a subscription they don't need and never use, and that they don't really know they're paying for. And most likely no one would actually want to incur NSF (insufficient funds) charges by accident. There may be times a person would choose to incur such fees, and (who knows?) some people might simply choose to pay for dial-up service just so they can say they do, but on the whole, we don't think we're going too far out on a limb by suggesting that these are not examples of companies proactively protecting their customers' interests.
Once we dispense with such obvious examples of untrustability, however, we will find that the task of acting in the interest of a customer is considerably more complex. Obviously, since I can't be any more certain of your motive...
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| Posted on 06/18/2012 by
Don Peppers and Martha Rogers, Ph.D. |
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| What is "Extreme Trust"? |
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Extreme Trust: Honesty as a Competitive Advantage.
But what is "extreme trust" and what does it mean for businesses? Our argument is that in a more socially connected, transparent world -- a world of Twittter and Facebook, Wikileaks and YouTube, companies will be held accountable by customers for proactively protecting their interests, rather than simply passively refraining from cheating them or deceiving them. "Extreme trust" comes when a company is proactively trustworthy, or "trustable."
When iTunes reminds you that you already own a tune you're trying to purchase, or when Amazon warns you that a you've already bought a book you're trying to order - these are examples of trustable behavior. In each case, the company is being proactively trustworthy. No one would consider it dishonest for either company simply to accept y...
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| Posted on 06/12/2012 by
Niren Sirohi, Ph.D. |
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| Sifting Through All the Big Hype About Big Data |
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Today, it is hard to escape all the chatter about Big Data. Every time I read an article or a news story around Big Data, I can imagine the frustration every marketer must face as they try to decide what the best course of action is in this brave new world that is rife with contrarian viewpoints. Hence, I thought it would be valuable to take a critical look and distill some fundamental rules that should govern marketers’ actions in the big bad world of Big Data.
Expensive technology solutions are not the panacea: Much of the Big Data conversations today originate from technology vendors and involve terms like the cloud, Hadoop, Map Reduce, Analytic appliances, Massively Parallel computing etc. These conversations have little if anything to do with the business case/ROI of Big Data. Although all of these concepts are important, just like in the CRM ...
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| Posted on 06/11/2012 by
Bill Duffy |
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| Peppers & Rogers Group – the World’s Leading Customer-oriented Business Strategies Firm |
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Now that iKnowtion is officially part of Peppers & Rogers Group, we’ll have even more perspective and insights on analytics and customer strategy to share with you. For starters, in addition to our regular blog posts about marketing analytics solutions and insights, you will begin to see regular blog posts from Don Peppers & Martha Rogers who are recognized as the world's leading authority and acknowledged thought leaders on customer-based strategies.
In addition, you can now access Peppers & Rogers white papers and case studies anytime for more in depth insight on how companies are tackling customer centric business challenges.
And, there will be more ...
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| Posted on 06/04/2012 by
Niren Sirohi, Ph.D. |
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| Customer Centricity Is All About Customer Lifetime Value |
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The Customer Centricity mantra has permeated almost every business today. But what does it mean to be truly customer centric? True customer centric firms realize two things: first, customers, and not capital, is the scarcest resource you have as a business, and second, not all customers are created equal.
Customer centric companies embrace these facts and focus on making business decisions not on the basis of ROI, but ROC (return on customer). ROC recognizes that the only value you create as a business is customer lifetime value (CLV), and increasing CLV is the only thing that really counts. Recently, in conjunction with the DMA Analytics Council I conducted a
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ABOUT iKNOWTION |
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iKnowtion is a marketing and analytic consultancy that helps Fortune 1000 companies optimize the impact of marketing
expenditures from demand spending to customer focused initiatives.
iKnowtion's industry knowledge and expertise,
combined with a comprehensive and proven analytic approach provides Global leaders in automotive, financial services,
retail and consumer goods businesses with the marketing insights and analytical engines required to dramatically
improve business results. Founded in 1999, the company is headquartered in Burlington, Massachusetts. To learn
more about us, please visit www.iknowtion.com.
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ABOUT Wiseguys |
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With so much change going on in the field of marketing, we felt that it was high time we try to stimulate
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