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The Hidden Wealth of Customers: Realizing the Untapped Value of Your Most Important Asset Hardcover – June 5, 2012


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Product Details

  • Hardcover: 240 pages
  • Publisher: Harvard Business Review Press (June 5, 2012)
  • Language: English
  • ISBN-10: 1422172317
  • ISBN-13: 978-1422172315
  • Product Dimensions: 9.2 x 6.1 x 1.1 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.9 out of 5 stars  See all reviews (26 customer reviews)
  • Amazon Best Sellers Rank: #501,660 in Books (See Top 100 in Books)

Editorial Reviews

Review

“If you are looking for ways to deepen your relationship with your customers, this book will definitely give you some great ideas and some strong recommendations on how to track and measure your efforts.” — Business 2 Community (business2community.com)

“If you are looking for ways to deepen your relationship with your customers, this book will definitely give you some great ideas and some strong recommendations on how to track and measure your efforts.” — Social Media, Marketing & Musings (margieclayman.com)

Bill Lee's The Hidden Wealth of Customers is one of most insightful business books I've read this year. As I described in my Forbes interview with Bill [...], he posits useful strategies that go above and beyond the established wisdom for how to cement customer loyalty. He uses ample case studies with real, behind-the-scenes information about companies like Salesforce.com and the innovative tactics they use to make themselves indispensable to their customers. I think most business owners or executives can learn a great deal from this book and would recommend it highly. — Dorie Clark, Forbes Online Columnist

“I'm willing to bet that most companies don’t know who their ‘rock star’ customers are, and are missing a big piece of their future revenue engine as a result. This much-needed book shows how to capture that missing piece.” — Brian Householder, Senior Vice President, Worldwide Marketing and Business Development, Hitachi Data Systems

“As with many business books, I had originally planned to skim this one. However, I was hooked after the first chapter. Lee covers some great concepts very well. Unfortunately, I can’t associate my name with the book, because two of the firms prominently mentioned are key competitors of ours.” — Chief Customer Officer, a Fortune 500 firm

“Since 2007, corporate America has been focused first on survival and second on expense reduction as a means to growing profitability. Revenue growth has now reclaimed its rightful role as a top priority. This book will challenge business leaders to tap a superb revenue engine that’s right under their noses.” — Julia Wellborn, Executive Vice President, Wealth Management, Comerica

“Bill Lee tears down myths and applies his own principles to innovate the most fundamental relationship in commerce: the customer. Regardless of what relationship your organization has with its customers, you’ll come away with new ideas and a motivation to engage with customers far more profitably.” — Robert Hillard, Technology Lead Partner, Deloitte Australia; author, Information-Driven Business

“Managing customers as an asset of your business is a key strategic focus of companies that thrive in good times and bad. This book will help you steer your business toward that critical path to prosperity and growth.” — Jeanne Bliss, President, CustomerBliss; former Chief Customer Officer, Microsoft; and author, Chief Customer Officer

About the Author

Bill Lee is President of Lee Consulting Group. He is also CEO of the Customer Strategy Group, which organizes industry-leading conferences, including the Summit on Customer Engagement, Customer Reference Forum, Summit on Customer Communities, and CAB Exchange Summit. For eight years his organizations have provided educational, research, and consulting services to many of the world’s top firms, such as IBM, AT&T, Apple, Microsoft, Wells Fargo, CA Technologies, Dell, Salesforce.com, and others.

More About the Author

Bill Lee is President of Lee Consulting Group (www.lee-consulting-group.com), which helps clients achieve dramatic growth through customer advocacy, collaboration and communities. He is the author of The Hidden Wealth of Customers: Realizing the Untapped Value of Your Most Important Asset (Harvard Business Press, 2012).

For years, Bill has built vibrant new communities of marketing and sales managers and executives through his firm, Customer Reference Forum (www.customerreferenceforum.com). Bill also organizes the industry-leading conferences on customer advocacy, the Summit on Customer Engagement (www.customerreferenceforum.com/event2012). For eight years his organizations have provided educational, research, and consulting services to many of the world's top firms, such as IBM, AT&T, Apple, Microsoft, Wells Fargo, CA Technologies, Dell, Salesforce.com, and others.

A former mathematics teaching fellow at Stanford University, Bill was a law clerk for a Federal judge in Washington, DC, worked with a team that formulated presidential campaign positions on sensitive legal and policy issues, and as an official in the Department of Defense, gained insight into what it takes to move the largest, most complex organization in the world. He has also served as a vice president of a prominent Dallas-based construction firm and controller at a major recreational boat manufacturer. Bill has written for a number of publications, including The Wall Street Journal, the Harvard Business Review Blog, Management Review, Organizational Dynamics, Executive Excellence and others. He is also author of Mavericks in the Workplace (Oxford University Press).

Customer Reviews

4.9 out of 5 stars
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See all 26 customer reviews
Salesforce.com (SFDC) is a great example.
Amanda Setili
It will give you a different perspective on how you can transform your existing customers, tap into their hidden wealth and create more win-win relationships.
Gregory Gazin
I would recommend this book to anyone looking to grow their business.
Andrew Miller

Most Helpful Customer Reviews

4 of 5 people found the following review helpful By Linda Henman, Ph.D. on June 15, 2012
Format: Hardcover
Finally! Someone has written the definitive work on how to leverage our best referral sources--our customers. Bill Lee's seminal work outlines one of the most important things business leaders will need to do to recover from the recent economic turmoil: join the customer revolution.

Conventional approaches haven't worked in the past four years, so clearly we need something new. We need ways to market our products, penetrate foreign markets, and leverage customers' loyalty. Lee's step-by-step approach gives us new tools to consider customers our most powerful sales force.
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1 of 1 people found the following review helpful By Seth Kahan on July 18, 2012
Format: Hardcover
I have been reading business books for a loonnnngggg time and thought I had a comprehensive understanding of how to maximize the value of my customers. Bill Lee turned my head around! He has done a thorough job of taking this all important topic apart and illuminating how to get the most out these relationships. Jam packed with examples. Written in plain language. So many insights and aha's I lost track, except for the fact that I have highlighted my copy, dog eared the pages, and written extensively in my business journal, drawing from Lee's instruction.

This is not just a book for me, but one I will give to my clients. The knowledge and ideas apply to anyone who is running an operation large or small. A real gem of a book. I'll be referring this to everyone I know who takes business seriously.

Bill's tone is great, too. Easy to read. Easy to understand. No struggle. Just good material, one page after the next.
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1 of 1 people found the following review helpful By Rhett Livengood on July 10, 2012
Format: Hardcover
Bill Lee's "The Hidden Wealth of Customers: Realizing the Untapped Value of Your Most Important Asset" is a must read for anyone selling or marketing to business end users. Each chapter has practical ideas and case studies from real customers on how to achieve and measure a "return on relationship". Each chapter has at least one idea you should try at your company. The book outlines in each chapter how to turn your ideas into action with clear customer references, benchmarks, and measurements that make the return on this book positive after reading only one chapter. Find out where the "puck is going" in customer engagement in this easy to read, easy to implement book.
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1 of 1 people found the following review helpful By Wingnut Malloy on July 9, 2012
Format: Hardcover
I was skeptical at first, but 15 pages in, if you are like me, you will probably start to realize how little you actually know about how the real customer-corporate relationship works. Tons of real-world examples, clear themes that you can communicate to your management teams. This is a great book to utilize for a corporate off-sites as pre-assigned "homework".

I really feel that this book is a must read for anybody who manages customer interactions, especially in the business-to-business corporate realm. Lee does a great job weaving in some of the cutting edge themes around customer cultivation, communities, and the economic power that tapping to an activated, engaged customer base can mean for your business. To my knowledge, nobody else has written a book on this topic for a general business audience.

Net-net: If you are a C-level exec trying to get your arms around how to leverage your customers, or somebody responsible for managing customer relationships, or simply interested in understanding how leading companies use their customers to create a "virtuous circle" of engagement and profit, you will get something out of Hidden Wealth.
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1 of 1 people found the following review helpful By Dorie Clark on July 9, 2012
Format: Hardcover
Bill Lee's The Hidden Wealth of Customers is one of most insightful business books I've read this year. As I described in my Forbes interview with Bill [...], he posits useful strategies that go above and beyond the established wisdom for how to cement customer loyalty. He uses ample case studies with real, behind-the-scenes information about companies like Salesforce.com and the innovative tactics they use to make themselves indispensable to their customers. I think most business owners or executives can learn a great deal from this book and would recommend it highly.
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1 of 1 people found the following review helpful By Richard B. Martin on June 24, 2012
Format: Hardcover
Bill Lee has written a very informative and useful book for anyone involved in marketing, sales, and customer relationships. It should be required reading and study for all students and practitioners of marketing and business development, as Lee shows that most companies seriously undervalue the wealth they can generate from the knowledge and relationships of their best and most enthusiastic customers, both for themselves and for their customers and prospects.

Here is what I found most compelling about this book. First, it is eminently practical. Lee provides clear and unambiguous advice about building valuable customer interactions, complete with step by step models to follow. In other words this isn't just a theoretical exploration of CRM. Instead, it is an in-the-trenches look at how to generate, cultivate, and nurture wealth-producing customer relationships. Second, it is easy to understand, as the author provides numerous real-world examples from his extensive research and his own consulting clients. This is further reinforced by well designed graphs, process diagrams, sidebars, and diagnostic tools. Third and last, Hidden Wealth of Customers is comprehensive. The author shows how to integrate customers into promotional activities; how to generate innovative solutions for new or updated products and services from carefully collated customer insights; how to use the web and social networking tools in concert and as only a part of a much wider approach to creating thought leadership and excitement from the communities of users, advocates, influencers, and contributors. And this is only part of the "hidden wealth" in this book.

I am an independent management consultant myself, and I find that I can use a lot of the information in this book to build my own profitable business.
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