Shownotes
Nicolaj Siggelkow is a lifelong academic, currently the David M. Knott Professor of Management at the Wharton School, University of Pennsylvania. He is a Co-Director of the Mack Institute for Innovation Management and the former Department Chair of Wharton’s Management Department.
Nicolaj loves the intersection of teaching and research and getting to focus on the things he's excited about. And so he's written a fantastic book called Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage.
In today’s episode, Nicolaj discusses how organisations can sell one off interactions they have with customers, he uses healthcare as his example, for a set amount of money. How do they persuade customers of the lifetime value of that asset so that they part with their cash up front for something they may not need for a long time?
We talk about pricing, subscription, technology and how these things are coming together to change the way organisations compete, in a connected strategy. How can we take a transactional relationship with a customer and turn it into a lifetime revenue generating relationship?
This is an absolutely fantastic conversation with Nicolaj, we hope you enjoy it as much as we did.
On today’s podcast:
- Interdependencies of strategic choices
- Identifying customer pain points
- Connected strategy
- The subscription model
- Differentiating yourself through added value
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