FORSTA HX SUPERHEROES
Episode 02: Peter Fader | Wharton School of Business
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The patterns behind the person: Why leaders need to know their best (and worst) customers
In our 2nd episode, we talk to Dr. Peter Fader, one of the world’s foremost authorities on consumer behavior and customer-centered business. He is a professor at the Wharton School of Business and was named to Advertising Age’s first-ever list of 25 Marketing Technology Trailblazers in 2017. He’s most recently published The Customer Base Audit, a guide to getting to really understand customer buying behavior. That’s especially important in the current economic climate, as companies and their leaders look to get more value from their activities and their customers.
As a professor, author, and business owner, Peter uncovers patterns of consumer behavior across a wide range of industries. His pioneering work in behavior data analysis has shaped the way we forecast purchasing trends and continues to help companies build better customer relationship strategies and position new products effectively.
Timestamps
- 0:00 Intro
- 1:34 How Peter got to where he is today
- 4:11 Peter’s passion for numbers, money and data
- 6:01 His journey as a professor at Wharton School of Business
- 7:34 The pivot from the product to the customer
- 11:00 Bringing customer lifetime value to life at Nike
- 15:48 Customer base audit
- 20:00 Common customer-centricity mistakes
- 21:38 Building customer-centricity into the culture
- 24:01 Covid’s impact on CX
- 28:17 Exploring the love and hate of NPS
- 33:36 Understanding customer cohorts
- 36:46 The Human Experience
- 41:56 The employee-customer correlation
- 43:24: Extracting more value from customers
- 49:29: Advice from a mentor
- 51:59: Peter’s best customer experience
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