p>Timothy L. Keiningham
The Wallet Allocation Rule
This is it! Finally, something definitive about what it takes to win the battle for share of customers' hearts, minds, and wallets. Backed by rock-solid science, The Wallet Allocation Rule is a definite must-read.
The authors expose Net Promoter as The Emperor's New Clothes and explain a superior metric that brings in the dimension of competition, providing managers with an effective way to drive beyond traditional customer satisfaction to achieve goals for profitability, market share, and growth. Groundbreaking work for marketing leaders and a must-read. The Wallet Allocation Rule is the next big thing!
Living in the world of big data analytics, we strive to turn customer satisfaction into customer retention using measured techniques every single day. The Wallet Allocation Rule delivers a concrete approach to trace our value to our enterprise clients, giving us structure to increasing market capture. This is groundbreaking indeed.
The Wallet Allocation Rule is brilliant. Managers need to change their thinking on the importance of rank and how they can position their brand to meet their financial goals. The simplicity of the mathematical model underscores the common sense of the Wallet Allocation Rule. I have a feeling this concept will be applied effectively by enlightened organizations. I enjoyed reading this book and kept thinking that this has a Freakonomics-like quality to it.
The Wallet Allocation Rule is groundbreaking research with clear, practical applications. It is well written and thought provoking. I'll never look at general marketing assumptions the same again. A must-read!
Satisfaction from your customers means nothing if it doesn't increase your share of wallet! The Wallet Allocation Rule gives you the hard facts and fills the void in how to do exactly that. Not just stories but real strategies to grow your business, your brand, and wow your customers. Just read it!
I like this book. The authors bring data and analyses to demolish widely held but misplaced beliefs in the efficacy of the Net Promoter Score, customer satisfaction, customer loyalty, and other popular measures in causing improvements in growth, market share, and profitability. They put the Wallet Allocation Rule to the test, and it performs. The book is an easy and fast read, with great case studies and charts. The appendices should be helpful to those wishing to put the rule to the test in their own companies.
The Wallet Allocation Rule is that rare, valuable combination of being strategically insightful and empirically powerful. This creates a path forward for better, data-driven decisions on how to capture more share of wallet while not getting caught in any of the classic pitfalls of satisfying customers without seeing impact.
Assumption, so the saying goes, is the mother of all f**k-ups. And yet, as demonstrated in The Wallet Allocation Rule, marketers have been happily throwing money at customer experience management despite the absence of hard evidence of a correlation between customer satisfaction and share of wallet. Over the course of this thought-provoking book, authors Keiningham, Aksoy, Williams, and Buoye convincingly pick apart the suitability of existing satisfaction and reputational metrics at predicting customer spend and posit a potential solution to the problem – the Wallet Allocation Rule. Explaining the scientific foundation for the rule and its practical applications, readers finally have the missing link within their grasp – the ability to link their existing customer metrics to share of wallet.
I've been following Timothy Keiningham's research and thought-provoking books for over a decade due to our mutual interest in customer loyalty. His most recent book, The Wallet Allocation Rule, is simply brilliant. After years of arguing about which metric is best, this groundbreaking book reveals what really matters: how your brand compares to your competitors' in your customer's mind.
The Wallet Allocation Rule addresses one of the largest challenges I see running Loyalty360. We are privileged to speak to CMOs [chief marketing officers] on a daily basis, and the biggest challenge they face is keeping up with the disparate technology challenges they are confounded with today. The clarion call is metrics; brands are confounded with the best internal metrics, as well as competitive benchmarking metrics by which to gauge the efficacy of their efforts; The Wallet Allocation Rule is one of the best books I have seen that addresses the metrics and insights needed to gauge said efficacy. Having known Tim for many years, the passion he has for brands to enable them to create truly (behaviorally based) loyal customers (advocates) has never wavered, and this book is the zenith of this passion.
Companies need to focus on customer metrics that drive business results. The Wallet Allocation Rule does a nice job of putting people's attitudes in context of their real-world choices, which, in turn, provides a more direct connection with actual customer behavior.
To achieve better business results, it's essential to rise above the myths and common practices, to adopt superior insights and methods. This book walks you through the fallacies in current thinking and shows empirical evidence that explains incorrect assumptions and proves correct interpretations. Readers will discover revolutionary insights and techniques that can propel them out of their customer experience ROI [return on investment] plateau to achieving strong growth.
The Wallet Allocation Rule convincingly dispels well-established myths about customer satisfaction and provides a new metric for predicting market share growth across competing brands. The authors demonstrate through examples, data, and cases that customer satisfaction and NPS [Net Promoter Score] alone are not enough. These must be measured relative to competitors, and the Wallet Allocation Rule is the way to do this. If your goal is market share leadership, this book is a must-read!
The Wallet Allocation Rule is an unabashed challenge to the current state of marketing within organizations. It eviscerates the navel-gazing customer satisfaction focus of most organizations seeking growth through customer experience management. But the book isn't just a critique of current practice. It provides a real, scientifically vetted solution to the problem – something sorely lacking for the highly touted but soon discounted management buzzwords. This book is certain to be one of the most important business books of the decade.
In today's metrics-driven age, a new metric that companies
