It is a universe in which companies compete at extreme velocity, racing to devise strategies that locks in customer loyalty, raise profits, and avoid the trap of commoditization. In an economy of extraordinarily intense competition, businesses resort to fierce pricing wars in order to win the hearts and mind of consumers.
Goods
and services
are no longer
enough.
Experiences and transformations are the basis for future economic growth, and every business can begin to direct their own transformations.
One-to-one marketing is actually a competitive strategy going far beyond the word ''marketing''. There are alternate terms, such as customer relationship management (CRM), enterprise relationship management (ERM), customer intimacy, real-time marketing, continuous relationship management and technology-enabled relationship marketing, among others. It appears in many guises, but it is a singular idea nonetheless, based on developing and managing individual relationships with individual customers.
A relationship, of course, is made up of a continuing series of collaborative interactions. Because it goes on through time, a relationship develops a 'context', as both parties to it -the company and the customer- participate in successive interactions. And each relationship is different, inherently unique to its individual participants.
Globally respected thought leaders and management consultants, Don Peppers and Martha Rogers, Ph.D. provide a roadmap to the business world of the future with their company, Peppers & Rogers Group, that is the world's preeminent customer relationship management consulting and training firm in the 1to1 revolution.
I had the opportunity to meet this keyman Don Peppers in London a few years ago. It was a great conversation, and conference given by him. Having added a dimension to my knowledge and experience that he explained the future of direct marketing techniques, and made a case for using customer service on a proactive basis to increase customer retention rates, drive loyalty, and provide the kind of experience that attracts more customers and grows the value of existing ones.
His methodology for Customer Relationship Management is as a series of 4-basic steps:
1) Identify your customers
2) Differentiate your customers by value and need
3) Interact with your customers and learn
4) Customise your offering to their needs
Peppers & Rogers Group's largest and most successful consulting operation is based in Turkey. Don Peppers was in Turkey on Mar 12th to discuss the cultural differences that change how 1to1 marketing is viewed and implemented in different countries, news here. But simple fact of the matter is that globalization pushes all businesses building relationships with customers to become a higher priority for everyone. Read his full post at From Local to Global
As you see the top shot of mine:) I've picked up a couple of business books; currently reading the newest book from Don Peppers and Martha Rogers, Ph.D., ''Rules to Break & Laws to Follow'', challenges us to think differently about the ''accepted'' rules in a world where networked customers and employees hold more power than ever, and examines the competitive differentiation in a long-term viability of business. About the book, visit here.
My question is what actually leading companies are doing NOW in this increasingly globalized competition?
merhaba nihal,
ReplyDeletea good posting.
i used to be running an ITC company in a global market but we (the shareholders) have sold the company to a family in sweden.
now, i am a retailer running sundry shops.
running an ITC company competing in the global market was very tough and it had gone too tough for me that now i am glad that i'm out of it ... phewwww :-)
what kind of services are rented to customers these days??
ReplyDeletei would say hardly any or none!!
the main goal is to make money, even when client services are crab!
working for an international fashion company i'm wondering every day again how they manage to make giant profits selling and offering crab!
but please no business on this easter monday, dear nihal!!
come sit down at my easter table, enjoy some fresh croissants and warm bread roles with marmelade and capuccino!!
in the afternoon we'll go outside, strolling across the valley fields in the fresh fallen snow ;)))
we'll be having a ball!!
Interesting post. I am afraid customer service is a dying concept here as far as I can tell. Marketing may get me in the door but doesn't help when the actual experience with a company is poor quality or service.
ReplyDeleteI try to do business with smaller companies where the people I interact with will be more likely to have an interest in the bottom line.
Darla
@ Azer: Congrat's Malaysia for the good F1 organization last Sunday. Was excitedly watching the race on tv. Again I was very right that my favorite Ferrari Team won Malaysia stage, A Big Thanks to Kimi:)
ReplyDeleteBeing an associate, I always believe in working for company, its aspirations and communicating the brand give me opportunities, that is created every day by all of the self-motivated, committed professionals who work there.
As far as retail work, I have no working experience but I think it is an aggressive management culture.
@ Marita: Sure, I was asking really simple question to you all ' What are you reading now-a-days (or at the present)?' Not business dear;)
Yep, I was there at your table, enjoyed the Easter Parade you created. Was a delightful setting the table with yummy cookies and my cappucino as I ever liked, you know:)
@ Darla: Customer service, say 1to1 customer relationship gets importance day by day in today's business because of increasingly web-based activities such as sales and marketing. Requires no any one between the Co. and the customer for online business activities, consequently customer and the staff/business owner comes closer each other. A challenging phase in marketing world.