Prof. Dr. Bernd Skiera, co-founder of Marini Systems, was already interviewed by Professor Fader from the renowned Wharton School of Business (USA) in a six-part series on customer management. Many of his thoughts have been incorporated into our software.
Conversations with Pete Fader: Introduction to Customer Centricity (1/6)
In the first part, Professor Skiera was asked about “Customer Equity” and “Customer Centricity”.
Conversations with Pete Fader: Using Customer Equity as a Forward Thinking Metric (Part 2/6)
In the second part, Professor Skiera looks at the most important customer metrics in the area of financial reporting: customer retention rate, profit per customer, and the number of customers. He shows how customer lifetime value and customer equity can be derived from these.
Conversations with Pete Fader: Creating Future Value (Part 3/6)
In the third part, Professor Skiera explains the basics of sustainable customer management and the need to measure the loyalty of customers, e.g. through the customer retention rate or the sales retention rate. Building on this, “predictive analytics” can then be used to make statements about the future development of the customer base.
Conversations with Pete Fader: Cross Disiplinary Challenges of Customer Metrics (Part 4/6)
In the fourth part, Professor Skiera looks at how marketing and sales can better communicate their added value to their colleagues in finance and accounting. He particularly emphasizes the need for good IT systems to measure customer loyalty, e.g., by measuring the customer retention rate or the repurchase rate.
Conversations with Pete Fader: Accounting for Heterogeneity (Part 5/6)
Professor Skiera looks at differences between customers in the fifth part and discusses the need to form segments of customers, e.g. by applying cluster analysis or “latent class” models.
Conversations with Professor Pete Fader: The Future of Customer Equity (Part 6/6)
In the last part of the interview, Professor Skiera looks at the future of customer management. He emphasizes that financial market analysts are asking more about customer metrics such as customer lifetime value, and that customer metrics are much more related to company value. Transparency about the acquisition costs per customer (CAC: Customer Acquisition Cost) must also be introduced.
More information
Most of the ideas expressed by Professor Skiera can be implemented via the Marini DataEngine. Integrated – and thus complete – data enables e.g. CLV estimation, calculation of churn rates, clustering of customers, use of recommendation engines.
