martechoutlook

The growing need of fluidity in post - CRM era

By Marketing Tech Outlook | Friday, December 07, 2018

How do you give the customer a wonderful experience? Is it easy? Business is always struggling to keep pace with the changing customer trends. Organizations are facing an increasing dilemma in handling their customers in accordance with their structures and systems. Being able to adapt the appropriate response remains a difficult task. This turbulence demands the value of stability and fluidity at the same time. How to face this paradox of stability and fluidity is a real question that should be addressed seriously.

In order to embrace achievement, organizations should practice new adaptive infrastructures and encourage a rethinking of orthodoxies. This need for being fluid is to respond to the different demand of customer thus enabling a far better customer relationship management.

Customer relationship management (CRM)  is a term that refers to practices and strategies that companies adapt to manage and analyze customer interaction and data throughout customer lifecycle.CRM system compiles customer data from every point of contact of the customer with the company. But CRM database has become a most basic customer experience platform. This gives rise to a post CRM era, where people are not customers of a single brand anymore. CRM has literally died it seems. Nowadays people are not happy with a simple value exchange, they are demanding greater knowledge, better and immediate experience, and service.

These demands have triggered the need to remain relevant and end to end Customer Experience(CX). Only better fulfillment of customer needs provisions countable customer growth.

Getting an insight into these customer needs is not an easy thing. There are three core needs to be satisfied:

1. Emotional needs which are fulfilled through brand loyalty that is allowing the individual to connect with a particular brand.

2. The functional needs are met by aiding simpler, faster, easier and, effortless experience to customers.

3. Touchpoint delivery aligned to devise expectation resulting them being broader channels(can be digital) includes tangible needs.

Employing a behavioral economic technique improves brand relationships. The correct use of information, making reference points, bit size analysis of content makes the customer drop out less possible. There should be an eye for the change too. Making use of the past and deploying those experiences for a brighter future.

The end result will be an innovation that meets customer requirements and market changes that is in a way of balancing the duals stability and fluidity.

New Editions