Showing posts with label Customer Centric. Show all posts
Showing posts with label Customer Centric. Show all posts

Monday, April 27, 2009

Are Facebook and Twitter just new channels?

Someone could argue that the new Web 2.0 platforms like Facebook, Twitter and co. are just additional channels that have to be supported by the existing CRM suite.

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Dealing with these platforms as additional channels will not bring the benefit they could provide, though. Accepting that the rise of the Web 2.0 is dramatically changing the consumers’ behavior, leads to a simple conclusion – Businesses need to change the way they deal with the ‘new customers’ as well!

This means that Facebook and Twitter are only the spearhead of what will come in the near future. They are indeed channels that need to be dealt with (the more agile, the better) BUT the way corporations make use of them needs to change as well. The whole corporate culture needs to change!
Adapting to the new consumer behavioral patterns leads us to what I call a CRM 2.0 strategy (any other term will do as well as long as it has the same meaning and results).

New questions must be asked:

  • How can I have a meaningful conversation with my customers?
  • How can I engage customers to take an active part in this conversation?
  • How can I leverage the knowledge and willingness of customers?
  • Does my corporate culture allow meaningful conversations (what changes are required)?
  • Do I know the little aches and pains of my customers? Are they dealt with?
  • Who are my customers and where / whom do the talk about products and services?

In the very end, this might be the end of the transactions based CRM (not counting any order management here…) towards a more dynamic, flexible, agile and customer centric environment that acknowledges that customers are persons – usually – that make the buying decisions often based on trust and relationships.

Friday, October 31, 2008

Economic downturn to increase the need for CRM 2.0?

With the crisis on the financial markets and the possible economic downturn in the Mid and Long-Term, I was wondering is this will also slow down the rise of CMR 2.0 or if this will even increase the need for next gen. Customer Relation Management?

Analysts still see Software as a Service (SaaS) as the next big thing on the market - which would support the fusion of traditional CRM and Web 2.0. But will companies be able to re-think their Customer Relationship Model strategy or will they prioritize this down until times get better?

I believe that the majority will see CRM 2.0 as a chance to survive the 'hard times' and come stronger out of them as aver before. Or, to see it from the other side, the economic downturn could be a chance for a business to focus on the most important parts - their customers - and get rid of some of the bad behavior that we could see in the past years of globalization, rise of technology and new markets.

Interesting times ahead of us... Will be interesting to see what the outcome will be.

Wednesday, July 9, 2008

Asking the right questions...

Carly Fiorina, ex HP CEO, says that good leadership requires asking the right questions:

I totally agree with that! And further it is important whom you are asking these questions... and like she says, the customer always knows that something is wrong. And even if a customer cannot exactly tell what - listening to customers is crucial to detect the need for adjustments and change. A good leader will know what to do from her/his experience even if it is not articulated correctly.

Having an outstanding leader saying this, emphasizes the need of a customer centered Corporate Strategy. This might be the essence of CRM 2.0...?

See also Christo Norden Powers book on Powerful Questions to learn how to ask the right questions - although this is more focused on a one to one environment. For a company, analytical CRM will deliver the answer (when having asked the right questions to the software :).

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Monday, June 30, 2008

The Customer changes... so do companies?

I know this youtube video is pretty old, but it still perfectly visualizes what happens if companies do not change and adopt the new Web 2.0 world...


But is a CRM 2.0 strategy everything it requires to make customers happy? What else does it take to make consumers loyal to a brand or product - why and when do they become advocates?

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Thursday, June 26, 2008

Innovation centric

A. G. Lafley suggests in his book "The Game Changer" that companies should be centered on innovation. But he admits himself, that innovation that does not bring value to customers is nonsense...

So shouldn't the business be customer centric then?

I think there are many ways for customers to influence innovation and the products that come out of it. This graphic should visualize on a high level how that could look like:


The Web 2.0 will increase the influence of customers on innovation massively. Companies that actively support this development will profit from it and gain competitive advantage while companies ignoring it and staying with the old fashioned 'isolated' innovation process might not be able to create a customer experience that makes customers loyal.

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