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#5. Do Companies Actually Understand Their Customers?
Are companies using the data that they capture to bring value to customers? In most cases, the wealth of data is massively unused, and almost no real value is created for customers. Michael Ruckman and Joe Pine continue their discussion on the effects of the Coronavirus on retailers and experience stagers in part five of this seven part series.
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Surviving and Thriving In the Experience Economy
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PLUS magazine talked about many topics with Michael Ruckman, Founder and President of Senteo, a boutique consultancy with an impressive track record in business transformation.
The key goal of lifecycle management is to maximize the customer's lifespan with the bank, integrate them into everyday banking services, and increase product penetration, which will enable solving the customer's problems in the long term. In this article, we will discuss the details and practical examples that banks can use in their customer lifecycle management.
What is the difference between retention and loyalty, and between customer-centric and relationship-centric business models? How exactly can one monetize customer experience? Michael Ruckman answers these questions and more…
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