Whether your ambition is to become a or a board member or if it’s to take ’ing to the next level we know that how you tell your story is paramount. As Anna Griffin told us, the stories we hear and the stories we tell shape our destiny. And if anyone is qualified to rewrite our own personal stories, it’s But for some reason, telling our own stories is notoriously challenging for
marketers share my weakness: I can sell the heck out of anything and anyone but myself.” Part of the reason may be that women have a complicated relationship with power. In fact, in 1998 when retreat speaker Pattie Sellers interviewed women for Fortune’s first Most Powerful Women list, she was met with massive resistance from female and other top executives who didn’t want to be described as powerful. But over the years, Sellers has seen
that resistance dissipate as more powerful women’s stories have been told and as their stories inspire younger women to aspire and achieve. Now, as we’re rewriting our stories to reflect our ambitions and our potential as we both embody the role of Chief Market Officer and look to our “and beyond” weaving our personal power into our stories is more important than ever. “Power is what you make it,” Sellers says. “When she finally got comfortable with
Consulting on I have learned
the power they have personally and within their organizations to level the playing field for other women and underrepresented groups. One of the ways is through mentoring. In last year’s survey, we learned that nearly all Empowered CMOs are involved in empowering other women through mentoring, with 42% dedicating a day or more to mentoring per month. “I love to inspire and work with other women professionals. Nothing makes me happier,” Dr. Debbie
Qaqish, Principal & Chief Strategy Officer of the Pedowitz Group told me in a recent TalkingSense episode. “I love sharing those stories and those experiences and hearing what they have to say. Women helping women is incredible. Rather than being competitors, we should be helping one another.” In the coming year, Empowered can continue to do the important work of expanding opportunities for other women and underrepresented groups by
using their own personal power to, as Oprah says, “impact with purpose.” “You don’t have to think of it as this huge mountain to climb,” advises Hamilton. “It can just be in a meeting and hearing someone slightly less privileged than you trying to speak up and not being heard. You have the opportunity to be brave and say, ‘Excuse me, I think she was trying to talk. I think
Including Fosters and Cellarmaster Wines
He now works with large Asian companies and governments across the entire information technology software spectrum from ERP to . More information is available at I fi rst met Matthew when he enrolled as a PhD candidate and I had the pleasure of assisting him on the doctoral pathway. We have since worked together on a number of educational projects. John and Matthew both read and commented on the technology-heavy chapters of this book.
Thank you both for your input. A number of doctoral candidates that I have supervised or advised have contributed signifi cantly to the book. Special mention must go to Daniel Prior who identifi ed and reviewed a number of different schools of relationship management. His thoughtful analysis provides a strong foundation for the discussion in Chapter 2. A number of chapters were read and critiqued by doctoral candidates Sergio Biggemann, Martin Williams,
Reiny Iriana and Chris Baumann. Thank you, and congratulations on your own achievements: you are all Doctors now. May you continue to be successful. Jana Bowden also reviewed early drafts of chapters. You’re the next to graduate. A number of academic colleagues past, present and perhaps future, have also contributed feedback on drafts or engaged in helpful debate and discussion, amongst them Lawrence Ang, David Ballantyne, Sue Creswick
Special mention goes to Adam Schmidt
Bill Gates, Asha Oudit, Bob Knox, Helene Cederqvist and David Prior. Many publishers, companies and authors have granted permission for their copyright materials to be reproduced in this book. These include photographs, line drawings, conceptual models, research data and screenshots. Every effort has been made to identify and contact copyright owners, and I am very pleased to acknowledge their contributions in the body of the book d
in chapter endnotes. In the event that there has been any failure to acknowledge a source appropriately, please let me know and I’ll correct the omission or amend the error at the fi rst opportunity. To all those at Elsevier who have been involved in the process of bringing the book to market I extend a vote of thanks: Ailsa Marks, Tim Goodfellow, Liz Burton, Sarah You and Stephani Allison. Appreciation is also extended to Lewis Buttle of eLAB Design who
designed the cover. Word-of- mouth (WOM) has reemerged as a major marketing phenomenon and its use as a customer acquisition method has started to attract renewed intthrough its referral program (referred customers) between January 2006 and December 2006 and a random sample of 4633 customers the same bank acquired using other methods.
Conclusion
From the moment of acquisition until September 2008, we track profitabilit measured as contribution margin and loyalty measured as retention at the individual level for both sets of customers. There is 33 months total observation time. We evaluate two measures of customer value: the projected present value over a six-year period from the day of acquisition and the present value of the actually observed contribution margins realized inside the data frame. Though our study is limited to one research site as is typical of studies requiring rich
and confidential data the technique and results are of general interest. Many sectors, including financial services, hotels, cars, newspapers, and contact lenses (Ryu and Feick 2007), are finding favor for customer referral programs. We don the following First, we present empirical data showing that a referral program a type of boosted WOM is a good approach to draw clients.Referred business show better customer value, retention, and contribution
margins. Second, drawing on our discovery that variations in contribution margin diminish over time and those in retention do not, we show that referred customers are more valuable in both the short and long run. Third, we demonstrate that not every client segment should exhibit the referral impact. At last, we show how the kind of analysis we do helps companies to determine the upper bound for the reward in their customer referral value (e.g., Gupta
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