Have you ever wondered if some of those old-fashioned theories about marketing are true? For example, we've all heard that "It costs five times more to find a new customer than to keep the current customer." But does anyone have proof of that? This is exactly what a team of writers is determined to do in the Myths of Integrity: Integrated Strategies to Get You Out of Business - and Proven Strategies That Really Work. The authors, Timothy L. Keiningham, Terry G. Marva, Terzan Akron, and Henri Willard are all experts in consumer loyalty and use their wealth of knowledge to dispel common myths and provide insight into what really works.
The book also selects an interesting format - the first six chapters are devoted to discarding more than 50 common 'fictional fables' and the last two chapters are used to learn why customers are trustworthy and how the fidelity system should be managed. Each chapter of ‘integrity myths’ contains a few ‘myths’ grouped together in common themes, such as the myths that change Company Principles and the Myths About Honesty About Employees. Both chapters begin and end with an industry-wide example that incorporates all the myths of the chapter, with their true stories discussed in between.Authors spend a few pages dismissing each of the fifty-three myths. Some myths are things that we often take for granted, such as “Companies often know their customers,” while others such as “wallet share as customers' lifetime increases” may seem more accurate. In each case, the authors use solid historical data to dispel myths and show the business consequences of believing it.
The last two chapters focus on seven ‘honest facts’ such as “Do not manage customer retention before managing customer selection” and “Customer loyalty and product image are not independent; you should behave hand in hand. ” The authors do a good job of surpassing the method of constructing and measuring the fidelity system about these ‘facts.’
The book is very fast-paced, fun. Anyone who reads a book with an open mind will agree with the strong thinking of the writers. In particular, business owners, CEOs, and anyone in marketing or consumer affairs will directly benefit by removing these ‘myths’ from their business and applying ‘facts.’ This book can have a real impact on your company’s main line. Many businesses invest unintentionally in customer loyalty programs without taking the steps described in this book. For some companies, a loyalty program does not make sense. For some, their plan requires significant adjustments. This book will help you identify where your business is and provide you with tools for improvement.
The only bad thing about this book is the share number of myths. Many ‘myths’ come together and students would probably have more chances to keep ‘myths’ if they were ten compared to fifty-three (such as seven ‘facts’). The number of myths does not allow the authors to go into as much detail as one would like each 'story.' It would seem that it would make more sense to integrate more myths.
All in all, Myths of Integrity: Integrated Strategies That Will Get You Out of Business - and Proven Strategies That Really Work are learned in a very fun and enlightening way. Anyone with an interest in consumer loyalty will learn a lot of practical information that can save his company's money and help separate them from the competition.Have you ever wondered if some of those old-fashioned theories about marketing are true? For example, we've all heard that "It costs five times more to find a new customer than to keep the current customer." But does anyone have proof of that? This is exactly what a team of writers is determined to do in the Myths of Integrity: Integrated Strategies to Get You Out of Business - and Proven Strategies That Really Work. The authors, Timothy L. Keiningham, Terry G. Marva, Terzan Akron, and Henri Willard are all experts in consumer loyalty and use their wealth of knowledge to dispel common myths and provide insight into what really works.
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