Customer relationship transformation can u keep up

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Post on 05-Dec-2014

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An European study of how companies cope with Customer Relationship Transformation, from Digital trends to organizational challenges and best practices

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<ul><li> 1. Customer relationship can be the difference between winning and losing business. If there is no real product unique selling proposition, CR is the tool for winning business. Services Executive Customer relationship has become a pressing issue </li> <li> 2. For the interviewees, the main business objective for Customer Relationship is 53%Loyalty &amp; Retention Retaining customers by extending the customer lifecycle and by giving them more reasons for brand preference is what companies are striving for. The alternative, hunting new customers, is just too costly and time-consuming. 40%Differentiation Building unique market positioning avoids commoditization and price pressure. But when this is not possible, CR can make the difference. </li> <li> 3. 85 % Of the interviewees think digitalization and its effect is a priority Propose new services, especially with apps, and push personalized offers. More frequent touchpoints, interactivity and engagement. Gaining valuable customer information. Three benefits of multichannel and mobile marketing 1 2 3 </li> <li> 4. Challenges on the way to digitalization Brand Challenge When it comes to branding there must be consistency across all online and offline channels. Whether connecting with customers through a brochure or blog, a website or newsletter, the brand values and messaging must not vary. Organizational Challenge Digitalization has changed customers expectation with regard to how they interact with brands and this in turn has created the need for organizational changes to deal with this. Putting these changes into effect, and making the investments needed to support them, are easier said than done. People Challenge While using digital technology is second nature to employees who are digital natives, or those who have grown up using it, the digital migrants among company staff need to be supported and reassured about its use. Failure to do so could lead to worsening CR in an environment where customers are more demanding and informed. </li> <li> 5. The Social Media question 3 main challenges 1. Controlling versus letting go We voluntarily dont have a web moderator, Consumers are free to give their opinions on our brand and products. Whats key is to be credible. Retail Executive In our company, social media falls between communication and CR. We struggled with it for years until we decided to define clear roles and responsibilities depending on the scope or type of requests. Services Executive We are realizing that it is simply not feasible to have a presence on all major social networking platforms. We have to prioritize the places where a presence would be most beneficial. 2. Defining consistent rules 3. Defining your territory </li> <li> 6. Fatigue is real, with new customers who often have an I have this already attitude. Telecommunications executive 50%Percentage of FMCG and financial service interviewees for whom customer fatigue is an increasingly important concern. 55%Percentage of interviewees for whom customer knowledge and feedback are priority issues. Companies want more and more knowledge and feedback but need to avoid customer fatigue </li> <li> 7. Implementing a voice of customer culture is a key challenge for customer relationship Create a customer relationship committee Encourage employees to get closer to clients and listen to them Carefully select who you want to talk to, who should talk to them and how Measure, measure and measure again! 1 2 3 4 5 </li> <li> 8. 48% of interviewees think standardization vs. customization is a top-of-mind question The main challenge is to build a global framework not only from the top-down but also from the bottom-up. The aim is to find the right balance between the non-negotiable parts of CR and what should be left to local initiative. </li> <li> 9. Clarify the CR function Where does it start? Where does it end? Role, organization and reporting line Improve the internal perception While there is no magic formula that will solve this, there is a growing trend to have a dedicated CR department with a transverse role, often reporting directly to the CEO Break the silos Businesses need to adapt and remove the distinctions between digital and physical, before and after sales, as well as among the different departments involved </li> <li> 10. Rethink performance measurement and indicators Clearer, more defined and appropriate KPIs will give a better indication of how CR is doing. Instill a new management culture Encourage trust, responsibility, accountability and initiative and find your customer relationship heroes. Take a long-term view of CR investments they will pay off Despite the potential growth they could generate, long-term CR investments are often sidelined in favor of short-term savings. 0 0,5 1 1,5 2 2,5 3 3,5 4 4,5 5 </li> <li> 11. Direct Value Driver CR should be a profit center, possibly the first. Technical and Caring Personalized Ambassador Trust, Transparency and Choice People who have CR roles should have the technical skills to manage the speed of technological changes while having the soft skills to handle the human and emotional effects of this. Treat each customer as the individual he or she is. Customers should become the biggest ambassadors of the brand and the first CR representatives. Respect the fundamentals of trust and sincerity, and do not force your customers into a tight relationship. </li> <li> 12. Find the full 40-page report online www.kea-partners.com </li> </ul>

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