By Timothy L. Keiningham

ISBN-10: 111903731X

ISBN-13: 9781119037316

Customer Loyalty is not sufficient. develop Your percentage of Wallet!
  
The pockets Allocation Rule is a innovative, definitive consultant for successful the conflict for proportion of shoppers' hearts, minds, and wallets. subsidized by way of rock-solid technology released within the Harvard company Review and MIT Sloan administration Review, this landmark publication introduces a brand new and carefully established approach--the pockets Allocation Rule--that is confirmed to hyperlink to an important degree of purchaser loyalty: proportion of wallet.
  
Companies presently spend billions of bucks every year measuring and handling metrics like client pride and web Promoter ranking (NPS) to enhance shopper loyalty. These metrics, notwithstanding, have nearly no correlation to percentage of wallet. As a consequence, the returns on investments designed to enhance the client adventure are often close to 0, even negative.
  
With The pockets Allocation Rule, managers eventually have the lacking hyperlink to company progress inside of their grasp--the skill to hyperlink their current metrics to the percentage of spending that consumers allocate to their brands.
  
- research why enhancing delight (or NPS) doesn't increase share.
- practice the pockets Allocation Rule to find what particularly drives buyer spending.
- discover new metrics that actually subject to accomplish growth.
  
By employing the pockets Allocation Rule, managers get genuine perception into the cash they presently get from their shoppers, the money to be had to be earned by means of them, and what it takes to get it. The pockets Allocation Rule presents managers with a blueprint for sustainable long term growth.

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Extra info for The Wallet Allocation Rule: Winning the Battle for Share

Example text

For most sectors, the relationship between companies' customer satisfaction/NPS levels and their market shares is negative. In other words, higher company (or brand) satisfaction/NPS levels tend to correspond to lower market share. The first reaction of most managers to this fact is disbelief. After all, the press is filled with articles from consultants and business pundits that purport to show how improving satisfaction/NPS leads to amazing market share success. Although we have no doubt that these pundits can point to examples of firms that grew while increasing their satisfaction/NPS scores (just as every miracle weight loss cure has testimonials to support their claims), the data supporting a negative relationship are too overwhelming to deny.

We coauthored several books (Loyalty Myths,2 Return on Quality,3 The Customer Delight Principle,4 and Why Loyalty Matters5) and award-winning papers so that the business community could gain from our insight and avoid the pitfalls we found. , satisfaction and Net Promoter Score) are so weakly correlated to customers' share of category spending with the brands that they use that the metrics are managerially irrelevant. This problem challenged everything we believed about customer satisfaction and loyalty.

Niche brands must appeal to a small, more homogeneous group to survive. The fact that firms with more similar customer bases tend to have higher satisfaction provides managers with another uncomfortable reality. Customer satisfaction ratings can increase as a result of a decline in market share. For example, an examination of the ACSI shows that Burger King's satisfaction levels rose over the same time period that it was losing share to McDonald's and Wendy's, dropping it from the second- to the third-largest fast food burger chain.

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The Wallet Allocation Rule: Winning the Battle for Share by Timothy L. Keiningham


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