Cover image for Wallet Allocation Rule : Winning the Battle for Share.
Wallet Allocation Rule : Winning the Battle for Share.
Title:
Wallet Allocation Rule : Winning the Battle for Share.
Author:
Keiningham, Timothy L.
ISBN:
9781119037309
Personal Author:
Edition:
1st ed.
Physical Description:
1 online resource (241 pages)
Contents:
Cover -- Title Page -- Copyright -- Contents -- Preface -- Foreword -- Chapter 1 It's "Oh My God!" Bad -- Growth Is Hard to Find -- Deconstructing Market Share -- Different Metric, Same Outcome -- Satisfaction ≠  Market Share -- Satisfaction ≠  Share of Wallet -- Always Wrong on Average -- A Cautionary Tale -- The Moral of the Story? -- Chapter 2 Eureka! The Discovery of the Wallet Allocation Rule -- Getting There -- Issue 1: Satisfaction Is Relative to Competitive Alternatives, but That Is Not Reflected in How We Measure Satisfaction -- Issue 2: A Company's Market Share Is Strongly Linked to Its Relative Rank vis-à-vis Competition, but This Insight Has Been of Little Practical Value to Managers -- Putting It Together -- Determining Your Rank -- The Wallet Allocation Rule and Share: The Evidence -- The "Best" Metric? -- Why Does the Wallet Allocation Rule Work? -- Using the Wallet Allocation Rule -- Wallet Allocation Rule Strategy -- How to Improve Your Rank -- The Rule in Practice -- Conclusion -- Chapter 3 The Wallet Allocation Rule in Action -- Grinding a New Set of Lenses -- Putting the Wallet Allocation Rule to Work -- Credit Unions in the United States -- Quick-Serve Restaurants in Canada -- Retail Banking in the United Kingdom -- Pharmacy Retailing in Chile -- DIY (Do-It-Yourself) Retailing in France -- Grocery Retailing in Mexico -- Retail Banking in Germany -- Grocery Retailing in Brazil -- Retail Banking in China -- Business Banking in Thailand -- Retail Banking in South Africa -- Retail Banking in Turkey -- Retail Banking in MENA (Middle East and North Africa) -- Conclusion -- Chapter 4 Customers as Assets -- The Wallet Allocation Rule Is Not a Panacea -- Where the Money Really Comes From -- Myth: Loyal Customers Cost Less to Serve -- Myth: Loyal Customers Are Less Price Sensitive -- Word of Mouth -- Customer Retention.

Share of Wallet -- Revenue ≠  Profits -- Short-Term Gain, Long-Term Pain -- Money-Losing Delighters -- Aligning Satisfaction, Share of Wallet, Revenue, and Profit -- Step 1: Use the Wallet Allocation Rule to Link Satisfaction and Share of Wallet -- Step 2: Align Share of Wallet and Revenue Objectives -- Step 3: Align Revenue and Profit Objectives -- Conclusion -- Chapter 5 New Metrics That Matter for Growth -- Glass Houses and Stones -- Must-Have Marketing Metrics -- Percent First Choice -- Average Number of Brands Used -- Share of Wallet -- Customer Satisfaction -- Satisfaction and Market Share -- Satisfaction and First Choice -- Key Drivers and Market Barriers -- Key Drivers -- Barriers -- Demand Evidence -- Chapter 6 Making It Happen -- Rule 1: Get the Data Right -- Inputting Erroneous Values -- Measuring the Wrong People -- Measuring the Wrong Brands -- Measuring the Wrong Things -- Rule 2: Set the Right Performance Standards -- The Next Disruption -- Afterword -- What's Next? -- Establish That You Need It -- Get Help -- Let's Talk -- Connect with Us -- Visit www.walletrule.com -- Appendix A Quick Start Guide -- What Is the Wallet Allocation Rule? -- Using the Wallet Allocation Rule Formula: A Simple Example -- Wallet Allocation Rule Strategy -- Identifying Opportunities for Improving Share of Wallet -- An Example in the Credit Union Industry -- Conclusion -- Appendix B Frequently Asked Questions -- When Is It Appropriate to Use the Wallet Allocation Rule? -- Does the Wallet Allocation Rule Work with All Satisfaction -- Is There a Preferred Metric We Should Use to Determine a Brand's Rank? -- How Do I Ensure That All Relevant Competitors Are Ranked? -- What Metrics Should Be on My "Dashboard" Related to the Wallet Allocation Rule? -- Why Does the Wallet Allocation Rule Work?.

Will Relative Net Promoter Score Work? -- Isn't Share of Wallet Just a Function of a Brand's Reach (i.e., Penetration)? -- Visit www.walletrule.com -- Acknowledgments -- Principal Contributors -- About the Authors -- Timothy Keiningham, PhD -- Lerzan Aksoy, PhD -- Luke Williams -- Alexander Buoye, PhD -- Notes -- Index -- EULA.
Abstract:
Customer Loyalty Isn't Enough-Grow Your Share ofWallet The Wallet Allocation Rule is a revolutionary, definitiveguide for winning the battle for share of customers' hearts, minds,and wallets. Backed by rock-solid science published in theHarvard Business Review and MIT Sloan ManagementReview, this landmark book introduces a new and rigorouslytested approach-the Wallet Allocation Rule-that isproven to link to the most important measure of customer loyalty:share of wallet. Companies currently spend billions of dollars each yearmeasuring and managing metrics like customer satisfaction and NetPromoter Score (NPS) to improve customer loyalty. These metrics,however, have almost no correlation to share of wallet. As aresult, the returns on investments designed to improve the customerexperience are frequently near zero, even negative. With The Wallet Allocation Rule, managers finally havethe missing link to business growth within their grasp-theability to link their existing metrics to the share of spendingthat customers allocate to their brands. Learn why improving satisfaction (or NPS) does not improveshare.Apply the Wallet Allocation Rule to discover what really drivescustomer spending.Uncover new metrics that really matter to achieve growth. By applying the Wallet Allocation Rule, managers get realinsight into the money they currently get from their customers, themoney available to be earned by them, and what it takes to get it.The Wallet Allocation Rule provides managers with ablueprint for sustainable long-term growth.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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