hbr.org
Reprint: R1407E Despite the $11 billion spent on CRM software annually, many consumer companies don’t understand customer relationships at all. They aren’t aware of the variety of relationship types and don’t understand what kind their customers want. Through research in a wide variety of consumer industries, the authors have identified 29 types of relationships. For example, some customers want to be best friends with a brand; others are looking for a passionate fling; still others find themselves as ex-friends and would welcome a closer bond. To understand the current portfolio of relationships, companies must pick up on signals from multiple sources. Companies can then build a strategic mix of connections by bolstering desired relationships and shifting customers to more-valuable types. There are many issues to consider: For example, some relationship types are more profitable than others. No actions will bear fruit unless a relationship orientation pervades not just the marketing function but every
almost 12 years ago
hbr.org
A Peruvian apparel company struggles to position itself against a global brand.
over 10 years ago
hbr.org
A Peruvian apparel company struggles to position itself against a global brand.
about 10 years ago
hbr.org
Discount retailer Dollar Bill’s has been struggling to maintain its margins over the past two years because of inflationary pressures, delays on imported goods, and decreased foot traffic. Now the board has asked CEO William Fisher Jr. to develop a strategy for raising prices. William worries that raising prices will hurt the company’s reputation and alienate customers, but he recognizes that something has to change. Should Dollar Bill’s maintain the dollar price point by reducing product quanti…
over 3 years ago
hbr.org
A New Approach to Building Your Personal Brand
almost 3 years ago
hbr.org
Case Study: Should We Deploy a Gen AI Salesbot?
about 2 years ago