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Connected strategy: building continuous customer relationships for competitive advantage

By: Siggelkow, Nicolaj.
Contributor(s): Terwiesch, Christian [Co author].
Material type: materialTypeLabelBookPublisher: Boston Harvard Business Review Press 2019Description: xiv, 264 p. Includes bibliographical references and index.ISBN: 9781633697003.Subject(s): Relationship marketing | Customer services - Technological innovations | Communication in consumer educationDDC classification: 658.812 Summary: Business Models for Transforming Customer Relationships. What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships--while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity--involving frequent, low-friction, customized interactions--mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are win-win: Customers get a dramatically improved experience, while companies boost operational efficiency. In this book, strategy and operations experts Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, "Connected Strategy" identifies the four pathways--respond-to-desire, curated offering, coach behavior, and automatic execution--for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies. Whether you're trying to revitalize strategy in an established company or disrupt an industry as a startup, this book will help you: Reshape your connections with your customers; Find new ways to connect with existing suppliers while also activating new sources of capacity; Create the right revenue model; Make the best technology choices to support your strategy. Integrating rich examples, how-to advice, and practical tools in the form of "workshop chapters" throughout, this book is the ultimate resource for creating competitive advantage through connected relationships with your customers and redefined connections in your industry. https://store.hbr.org/product/connected-strategy-building-continuous-customer-relationships-for-competitive-advantage/10241?sku=10241E-KND-ENG
List(s) this item appears in: Best Business Books 2019: Strategy
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Slot 2177 (2 Floor, East Wing) Non-fiction 658.812 S4C6 (Browse shelf) Available 200622

Business Models for Transforming Customer Relationships. What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships--while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity--involving frequent, low-friction, customized interactions--mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are win-win: Customers get a dramatically improved experience, while companies boost operational efficiency. In this book, strategy and operations experts Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, "Connected Strategy" identifies the four pathways--respond-to-desire, curated offering, coach behavior, and automatic execution--for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies. Whether you're trying to revitalize strategy in an established company or disrupt an industry as a startup, this book will help you: Reshape your connections with your customers; Find new ways to connect with existing suppliers while also activating new sources of capacity; Create the right revenue model; Make the best technology choices to support your strategy.

Integrating rich examples, how-to advice, and practical tools in the form of "workshop chapters" throughout, this book is the ultimate resource for creating competitive advantage through connected relationships with your customers and redefined connections in your industry.

https://store.hbr.org/product/connected-strategy-building-continuous-customer-relationships-for-competitive-advantage/10241?sku=10241E-KND-ENG

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