Customer Behavior

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Image courtesy of Flickr user **Maurice**.

Putting the ‘Relationship’ Back Into CRM

Many think that the way to capture value through relationship marketing is to focus on the “good” customers and get rid of the “bad” ones. But there is more to best practice relationship management than maximizing revenues on individual customers and minimizing costs to serve. This article provides guidelines for companies that want to improve the value of customer relationships. For most companies, the transition to a relationship-based approach will require a significant shift in practice.

Image courtesy of Flickr user Nathan Eal Photography.

Why Companies Have to Trade "Perfect Data" for "Fast Info"

Companies have been trained to think about data all wrong, say Attivio’s Ali Riaz and Sid Probstein. “Analytics don't have to be based on super-precise data,” they say. “The report doesn't have to be perfect. It needs to capture the behavior, not the totality of it."

Image courtesy of YouTube.

When Unhappy Customers Strike Back on the Internet

Companies need to understand and manage the rising threat of online public complaining. When customers believe that a company has treated them badly, they may take their grievance public — very public. What can companies do, whether in reacting to such negative publicity or in preventing its occurrence? The authors have developed an “organizing matrix” to help understand and respond to online complaints, noting that "as long as the company uses such fair processes, and as long as it makes customers aware of them, customers will tolerate the occasional service failure."

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Cutting costs strategically

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Need to lower costs? Think about “re-featuring” your product, suggests Scott D. Anthony of Innosight.

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How to find opportunity in a downturn

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Bhaskar Chakravorti of Harvard Business School offers insights about entrepreneurship and innovation during a downturn,

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