m The companies instead of getting struck in the era of 60¶s must modernize and use

modern technologies to increase the customer life time value and long term customer
relation ships.
m The companies must look to cultivate customers.
m Instead of innovating new ways to find a product companies should find new ways to
increase CLV.
m B2B companies uses key account managers and global accountant directors to
increase the CLV.
m TESCO has launched innovative clubcards and various other offers such as giving
coupons with diapers purchased to increase the CLV.
m AMERICAN EXPRESS uses data analysis and algorithm to find customers next new
product.
m The insurance and financial service companies are also launching various innovative
methods to cultivate customers.
m Change marketing department to customer department.
m Chief marketing officer can be replaced with chief customer officer.
m Around 300 companies today are using the concept of CCO.
m CCO should be given proper authority to report to the top
management.
m CCO should remove all the obstacles that stops the flow of
information related with customer.
m Tesco has started TWIST program me to know about their
customers.
m CCO has to play important role in assuring that all the customer
related information are properly utilized.
m CCO should try to remove silo mentalities.
m CCO is accountable to increase CLV.
m Transfer of authority from product manager to customer manager.
m PandG has got key account managers for Wal-Mart.
m B2C companies have put mangers in charge of wealthy customers.
m Product manager should support customer manager.
m Replace market department by customer department.
m Customer benefit should be a head of product benefit.
m 4ps should be designed to give more value to customers.
m Customer equity to be increased.
m Focus shifts from aggregate level to individual level.
m Every customer should be satisfied.
m Customer equity must be given equal importance to brand equity.
m One customer satisfied will create new customer through word of
mouth.
m It firms are using CRM to increase CLV.
m CRM as tool for gauging customer needs and
behaviour.
m Bringing CRM to customer department means
bringing IT skills as well.

m CRM to given equal importance as product

management.
m Market research is to be customer centric.
m Product is to be for customer needs.
m Money to be invested in Rand D to increase CLV.
m PROPER CUSTOMER SERVICE PROGRAMME
TO BE IMPLEMENTED TO INCREASE CLV.
m MANAGERS TO BE TRAINED TO INCREASE
CLV.
m ROLE OF CUSTOMER MANAGER.
m CM WILL BE MORE EFFECTIVE WHEN THEY
ARE T SHAPED.
m CM SHOULD UNDERSTAND SOCIOLOGY AND
PHYSIOLOGY.
m BUSSINESS SCHOOLS TO BE ENCOURAGED
TO PRODUCE MORE CM.
m OUTSOURCING OF CUSTOMER SERVICE.
m Focus must shift from product profitability to
customer profitability.
m Retail houses have started to use products that
are loss leading but would increase customer
relationships.
m Current sales may be misleading so companies
must find ways to increase CLV as it is a long term
benefit.
m Customer equity to be given priority.
m More importance must be given to customer
equity share as compared to current market share.
m Importance of life time value segment to guide
companies cannot be underestimated.
m Transformation from being product centric to
customer centric will not be easy, but it happen as
it is the need of the market.
m Transformation must start with a change in
mentality of top level executives.