Shoulders of Giants
If I have seen further it is by standing on ye shoulders of Giants, Sir Isaac Newton said in 1676. I feel that way now. My breakthrough way to measure and manage sales and marketing has been possible because of the work of others in building a body of knowledge about business.
Id like to pay a special tribute to the thought leaderspeople and companies, including people on my teammentioned in this book and thank them for how their ideas sparked ideas in me or validated my approach.
Youll find them and how they have added to my understanding here chapter by chapter, but you will also find commentary at the end of most chapters that expands upon specific contributions. Thank you all.
Helping to establish Customer Lifetime Value (CLV) as an important measurement: Arthur Hughes, author of Strategic Database Marketing; and Sunil Gupta and Donald Lehmann, authors of Managing Customers as Investments.
Summarizing current marketing metrics: Paul Farris, Neil Bendle, Phillip Pfeifer, and David Reibstein, authors of Marketing Metrics: 50+ Metrics Every Executive Should Master.
Putting a number on the huge performance gain possible if the strategy-to- performance gap were closed: Michael Mankins and Richard Steele of consulting firm Marakon Associates in Harvard Business Review.
Measuring and managing manufacturing breakthrough: Time and Motion Study inventor Frederick Winslow Taylor.
Quantifying how invisible customers are to most executives: IBM study.
Pointing out the failure rates for CRM (Customer Relationship Management) enterprise software implementations: Daniel Murphy, Joseph Grady, Javad Maftoon, and Andres Salinas, authors of Making CRM Stick, who referenced studies by IBM, consulting firm Accenture, and Gartner Group analysts.
Establishing the importance for executives in understanding their success: Jim Collins, author of Good to Great.
Underscoring the drawbacks of short-term thinking: Organizational guru Russell Ackoff of Wharton and author of Re-Creating the Corporation; and studies by Duke University professors John Graham, Campbell Harvey, and Shiva Rajgopal; and McGraw Hill.
Outlining why strategy execution can be an oxymoron: Peter DeLisi, President of Organizational Strategies, who referenced a David Axson article in Strategy & Leadership.
Highlighting the difference between effectiveness and efficiency: Russell Ackoff of Wharton and Religence team member Jim White.
Describing the customer experience as the next corporate battleground: Colin Shaw and John Ivens, authors of Building Great Customer Experiences.
Evangelizing the shift from transactions to interactions as the new driver of productivity: Cisco Systems CEO John Chambers.
Underscoring the difficulty in executing strategy: Former Fortune managing editor, Walter Kiechel III, writing in Planning Review (now Strategy & Leadership) and Fortune magazine; and Ram Charan, author of Boards at Work, writing in Fortune magazine with Fortune senior editor-at-large Geoffrey Colvin.
Establishing the need for and a method to map strategy to align an organization and link strategy and execution: David Norton and Robert Kaplan of Harvard and Balanced Scorecard, now part of the consulting company Palladium, and authors of Alignment. Also prior work at Renaissance Solutions, Inc. with CFO magazine.
Making the case that strategy is not operational efficiency: Competitive advantage guru Michael Porter of Harvard and consulting firm Monitor Group.
Suggesting differentiating based on the relationship between the buyer and seller: Marketing guru Theodore Levitt of Harvard.
Pointing out the inability of most companies to anticipate demand in real time: Former Federal Reserve Chairman Alan Greenspan.
Pioneering differentiated customer service for enhanced profitability: Religence team member Bob Sabath.
Introducing me to the action learning team approach: Religence team member Kathleen Robinson.
Uncovering the disconnect between what a company and its customers think about the delivery of the customer experience: Bain and Company, Inc. consultants.
Providing insight on the value of customer satisfaction: The University of Michigan Business School.
Defining customer levels and tactics to affect them: Jill Griffin, author of Customer Loyalty.
Opining: you cannot manage what you cannot measure: Management guru Peter Drucker.
Confirming my insight about the percentage of business from repeat and referrals for established companies: Theodore Levitt of Harvard.
Improving upon segmentation by profitability by highlighting franchise customers: Religence team member Bob Sabath.
Establishing the importance of customer advocates to the bottom line: Bain and Companys Frederick Reichheld, author of The Loyalty Effect and The Ultimate Question: Driving Good Profits and True Growth.
Evangelizing the importance of CLV as a measure: Carlson Marketing Groups Martha Rogers and Don Peppers of 1-to-1 Marketing fame.
Discovering a revealing way to segment for profitability using CLV and Contribution to Profit to Date: Religence team member George Fruehan.
Declaring that the essence of strategy is in the activities, which stimulated me to think that the essence of strategy execution is in customer interactions: Michael Porter of Harvard.
Pointing out that strategy happens whether it is explicit or not: Futurist Alvin Toffl er, author of Future Shock.
Illustrating the benefits of an involved workforce: Jeffrey Liker, author of The Toyota Way.
Disclosing the importance of a mix of tactics in closing a sale: D.F. Blumberg & Associates study referenced in Journal of Management Consulting.
Pioneering engineering positive customer experiences into product and process design: Religence team member Ray Sheen.
Revamping Activity-Based Costing to measure activities based on time, which is similar to my approach in monetizing interactions: Acorn Systems CEO Steven Anderson and Robert Kaplan of Harvard, authors of Time-Driven Activity-Based Costing.
Showing the efficacy of CLV over RFM for anticipating profit: University of Connecticut professors Rajkumar Venkatesan and V. Kumar in a study published by Marketing Science Institute.
Appreciating the hard work in realizing an idea: Inventor Thomas Edison.
Comparing and contrasting the CRI Framework with Six Sigma: Religence team member Ray Dunaway.
Fine-tuning how existing interactions and insight from predictive modeling can be used within the CRI Framework: Religence team member Dave Pearson.
Declaring the importance of asking only what you will use: Market researcher Ed Canapary.
Pointing out how little use companies make of the customer feedback they collect: A European study referenced by Gartner Group.
Establishing the downside of using other companies best practices: Michael Porter of Harvard.
I didnt mention Jack Trout and Al Ries specifically within the text of the book, but Id give Trout and Ries credit for planting the seed in me and many others that a customer experience is built one interaction at a time. Just update, to todays parlance, their ideas from the early 1980s of how to establish your brand in a customers mind. Additionally, their idea of marketing from the bottom up, which gave recognition and credibility to marketing tacticians, stimulated my thinking about taking strategy down to where the action is with customers.
Ive already mentioned the tremendous contribution Religence team member Jim White made recognizing the value of what I had invented and resolving to do what it would take to bring it to life. It doesnt hurt to mention it again!