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Managing Customers Through Economic Cycles

Managing Customers Through Economic Cycles

John McKean

ISBN: 978-0-470-66238-0

Feb 2010

264 pages

Select type: E-Book



Whether you are a global Fortune 500 organization or a small business Managing Customers Through Economic Cycles show you how to optimize your business's sales and marketing approaches specific to survive and thrive in each economic cycle and transition.

"The business case for continuing to invest in service and innovation can be compromised by an economic downturn. McKean clearly lays out the case for weathering the economic storm by achieving a careful balance of investment in the areas that truly matter – and continually using data to reinforce the idea that business can be more science than art, after all."
Barbara Higgins, Vice-President, Worldwide Contact Centers, United Airlines

"John McKean's work has served as practical guide for me and my teammates. I have seen countless examples of businesses managing their customers’ experience with a short term economic view. If the right principles are employed consistently, as John teaches us, we can create the right emotional experience that delivers growth and loyalty – as well as the improved operating leverage – that are needed in good times and in tough times. Consistency of values and experiences keeps companies from having to be reactionary and short sighted in a down economy. Thanks, John, for another practical lesson."
John Quinn, former Customer Service and Support Executive, Bank of America

"In good times and bad, forecasting where business is headed is both art and science. As John McKean so eloquently states, marrying data driven analytics with consumer insight is critical for managing through tough economic cycles. This book is a must read for anyone intent on driving greater profitability and consistently out-behaving the competition."
Joni Newkirk, CEO, Integrated Insight, Inc., former SVP, Business Insight & Improvement, Walt Disney Parks & Resorts

"John McKean continues his pursuit of the profitable customer through the turbulent world of boom and bust. His book provides valuable insights into how businesses survive and thrive in a volatile economic climate."
Trevor Dukes, Business Systems, WH Smith

"The rise of customer power coupled with challenging economic conditions demand that organizations leverage the power of the Internet and related technologies to stay relevant to their customers. As John McKean points out in his compelling new book, successful firms have built a core competency in leveraging information technology not only to survive economic transitions but thrive in an ever-changing economy."
Erik Brynjolfsson, Professor, MIT Sloan School and co-author of Wired for Innovation: How Information Technology is Reshaping the Economy

"It would be hard to name a more relevant or timely topic for sales and marketing today than that of how to cope with economic downturns and upturns, and this is exactly the subject John McKean has insightfully tackled head-on in Managing Customers Through Economic Cycles."
Don Peppers and Martha Rogers, Ph.D., Peppers & Rogers Group

Acknowledgements vii

1. Introduction 1

2. Predicting/Preparing for Economic Transitions 7

3. Science of How Consumers’ Buying Changes over Cycles 41

4. Consumer Loyalty Strengths/Vulnerabilities in Cycles 67

5. B2C Approaches for Dynamic Consumer Needs/Value Tradeoff 91

6. B2B Approaches for Different Economic Cycles 125

7. Mastering Information across Economic Cycles 151

8. Managing the Employee Factor through Cycles 173

9. Leveraging the Power of the Community (Physical and Online) 203

10. Summary 247

Index 249