The Satisfied Customer: Winners and Losers in the Battle for Buyer Preference
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When faced with the choice between cutting costs or improving customer service, most companies focus on tangible assets. But in our service economy, the most important asset is intangible: a company's relationship with its customers. The Satisfied Customer prepares investors and managers for a major economic shift in power from sellers to buyers that is changing how capital moves, how corporate assets are managed, and ultimately how business is done. [read reviews]
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Drawing on results from the American Customer Satisfaction Index and including examples from companies like Home Depot and UPS, Fornell describes how to harness buyer power in ways that are often paradoxical and at odds with conventional practice. What businesses and investors must realize, he explains, is that customers know something that Wall Street has yet to figure out.
The Satisfied Customer also teaches firms how to quantify and increase the value of their customer relationships - what Fornell calls the Customer Asset. Filled with revealing statistics, startling real-world examples, and hilarious insights into consumer behavior, The Satisfied Customer is a guide to maximizing customer assets and an indispensable tool for modern management.
Praise for THE SATISFIED CUSTOMER:
"First rate! An engaging and practical book full of useful concepts and tools by one of the foremost experts on consumer satisfaction. Be a winner in the battle for customers and read this book."
--Bernd Schmitt, author of Customer Experience Management and Big Think Strategy
"In today’s world of intense global competition, customer satisfaction is a given. Without it, customers quickly move on to another of their endless choices. And they never return. That’s why The Satisfied Customer is a must read."
--Jack Trout, author of The 22 Immutable Laws of Marketing and Differentiate or Die: Survival In Our Era of Killer Competition
"Claes Fornell reminds us if we want to achieve long-term growth and success, companies must invest in their customers. The challenge is knowing how to make smart investments and what measurable outcomes are essential to create satisfied customers. Professor Fornell is providing an important resource for all of us who rely on customer satisfaction to drive the growth of our brands and businesses."
--David Brandon, chairman and CEO, Domino's Pizza, Inc.
"For more than 100 years, AT&T has adhered to the philosophy that delivering an unparalleled customer experience is the key to the long-term reputation and financial health of a company. Dr. Fornell’s passion for this same principle makes him one of the business world’s leading customer service champions."
--Ralph de la Vega, President and Chief Executive Officer, AT&T Mobility
"The concepts and strategies discussed in this book will greatly help business leaders align their organizations in a way that provides tangible results in value creation, customer retention and improved brand position. Fornell's insights bridge from the boardroom and investors all the way to the frontline serviceworker."
--Jon Ward, Managing Director, Lazard Freres & Co., LLC
ABOUT THE AUTHOR
Claes Fornell is the world’s leading authority on customer satisfaction measurement and Customer Asset Management. He is the mind behind the American Customer Satisfaction Index (www.theacsi.org) and many similar indices worldwide. The founder and chairman of CFI Group (www.cfigroup.com) and Foresee Results (www.foreseeresults.com), he is the Donald C. Cook Professor of Business at the Stephen M. Ross School of Business, University of Michigan.
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