Publications
Publications
- January–February 2020
- Harvard Business Review
Are You Undervaluing Your Customers?: It’s Time to Start Measuring and Managing Their Worth
By: Rob Markey
Abstract
Leaders recognize that they should manage their businesses to maximize the value of the customer base. But too often, earnings pressures result in cost-cutting measures that hurt customers.
Loyalty-leading companies operate differently. They create systems for measuring customer value and invest in the necessary enabling technology; they use design thinking methods to build customer loyalty; they organize the business around customer needs; and they engage the organization and stakeholders—employees, board members, investors—in the transformation.
And they report on their results in formats that allow investors and other stakeholders to make informed judgments.
Keywords
Customer Experience; Customer Value; Customer Centric Initiative; Customer Focused Organization; Customer Lifetime Value; Customer Focus and Relationships; Customer Value and Value Chain; Operations; Business Strategy
Citation
Markey, Rob. "Are You Undervaluing Your Customers? It’s Time to Start Measuring and Managing Their Worth." Harvard Business Review 98, no. 1 (January–February 2020): 42–50.