Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage

by Nicolaj Siggelkow, Christian Terwiesch

Business Models for Transforming Customer Relationships What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships--while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity--involving frequent, low-friction, customized interactions--mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are Customers get a dramatically improved experience, while companies boost operational efficiency. In this book, strategy and operations experts Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, Connected Strategy identifies the four pathways--respond-to-desire, curated offering, coach behavior, and automatic execution--for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies. Whether you're trying to revitalize strategy in an established company or disrupt an industry as a startup, this book will help

Genres: Business, Nonfiction, Communication, Leadership, Entrepreneurship, Self Help, Management

288 pages, Hardcover

Published May 21, 2019

Reviews

[Greg Hawod · Rating 5 out of 5]

Many of us are aware that our world is increasingly getting more connected. Thanks to the power of the internet the global reach of many companies has increased exponentially over the last decade. However, it is not just the global presence of these companies are becoming more evident these days. More personally, we also sense the increasing reach of these instituion towards our private lives.

This book does an amazing job of helping executives on how to develop connected strategies in their respective organizations. If you are someone looking to redefine your business model by taking advantage of artificial intelligence, machine learning, and deep learning, this book will guide you through the thinking process on how to start planting the seeds of connected strategy. Moreover, this book also addresses the privacy concerns of the customers involved.

One of the things I really like about this book is how they infuse their explanations with real life examples on how companies such as Uber, Disney, Amazon, etc used the ideas to take their respective businesses to success. The authors illustrated it really well that this book would appeal not only to business leaders but to every day consumers. I find the examples of latest technological as well as business model innovation really entertaining as much as educational.

Another useful aspect of this book are the workshops. This is a business book anyway so this is written to help business executives to start putting the ideas in these book into proper perspectives. I like that the authors provided sample tables on how executive teams can do actual workshops. This book also has a website where you can get tons of resources like worksheets and podcasts. (www.connected-strategy.com). Simply put, as Reid Hoffman says, read this book if you want to build a business model of the future.

[Thu An Huynh · Rating 5 out of 5]

such an amazing book and I would recommend this to anyone who got an interest in applied economics. easy to understand and get the point of the authors. when I bought this book at WHSmith I just thought this book was about customer relationships only, based on what was written on the cover. but it turned out to be much more than that and exceeded my expectations completely!! this book mainly talks about how to form a sustainable business model with customers as the core center. in the context of fierce competition between firms, it is customer relationships that make the difference and keep them loyal to your business. this book has em all you need and you won't ever be dissatisfied!

I still believe it is God's plan that I happened to come across and buy this book among hundreds of options! thank you, two authors, for having established such a great work like this!

[Carlos Vitoria · Rating 4 out of 5]

This is neither a book for those looking for a primer on corporate strategy nor a typical book from two academics full of theories but with limited or no application in the real world. Siggelkow and Terwiesch did a good job in laying out the fundamentals of their connected strategy framework, but what stands out to me is the workshop material (chapters 3, 6 and 10) which bring all the concepts together and walk you through the steps and the thinking process to apply the framework in a real world situation, this builds credibility in the framework as it becomes apparent that it has been generated and refined through application in real business situations.
I miss, however, that even though the connected strategy framework is applicable to almost any company size the authors insist on using just large corporations (the likes of Uber, Disney, Rolls Royce or Nike) to illustrate their points and there are limited or no references to smaller players.

[Chris · Rating 4 out of 5]

Connected Strategy by Nicolaj and Christian is a quick and efficient read. He provides his insight into how competitive advantages change throughout a business. It is largely opinionated, and his opinions are on point. It's the equivalent of reading Andy Grove's self-written book about strategic inflection points. There are moments in which a business, large or small, deals with a series of problems that can solve a business' issues, if handled correctly. It basically discusses ways to impact your business. It also does not get into math or numbers. Nicolaj and Christian, though Christian is a teacher at a reputed school, it discusses a series of tips on how to adjust one's skills in business to beat its competition. His second book is more comprehensive. For more information on step-by-step information on strategic business, read Christian's other book.

[Ondrej Lokvenc · Rating 5 out of 5]

Disruptive Business Strategy

Very structured framework linking business strategy of continuous customer relationship based on new data driven way approach. Supported with new revenue models and technologies - becoming a trusted partner model rather than transactional partner competing in commodities. Real eye-opener and step-by-step inspiration supported by tools, structured workshops and x-industry applications/analogies. My best business strategy book so far.

[Nick Petrus · Rating 4 out of 5]

Clear message and most importantly practical advice, which is quite rare for business books. More usefu for higher level managers, but it's great to be aware of the strategies and how they are chosen.

[kpetchtabtim1980 · Rating 5 out of 5]

Clear picture with real case senarios

I would recommend this to who is interesting​ to understand more on business today in 2020. With real case senarios from start-up around the world.

[Spencer Brauchla · Rating 5 out of 5]

Increased my appreciation for business strategy by expanding my understanding of the topic. I didn’t realize how significant my gaps in strategy knowledge are until this deep dive into connected strategy and value creation.

[Jess Kang · Rating 4 out of 5]

Connected relationship is the key...

[Frederik Lierde · Rating 4 out of 5]

It explains well what you have to do with your business as a strategy

[Baigali.Bjw · Rating 2 out of 5]

If you are familiar and have studied strategy before, this book is exactly a repetition of a whole lot of same ideas of Uber Airbnb and Food delivery businesses etc.

[Darya · Rating 5 out of 5]

Good strategy overview and interesting business cases. High quality approach to the analysis of new technologies and trends in the times of emerging trends that shape new businesses and business models. Still customer focus is very important and the book uncovers the topic. I think it is indeed very useful to shape a strategy of continuous customer interaction and this is what the future of any business is about. Recommend this book as a thoughtful reading with a lot of interesting examples of big corporations.