SELF IMPROVEMENT

sap business partner furniture In today's business, "Its the customer."
By working for a $350 million publishing company earning 35% net profits, I learned as a publisher the value of being customer centric.
Customer service became paramount to our business. Consequentially, our customer retention rate always exceeded 95%. Fortune 1000 companies have recently re-discovered that a strategy based on customer service versus building share holder value increases profits, whereby a long term strategy based on product value and customer service will yield sustainable growth and profits. 1. Customers are the dog (so to speak) profits are the tail. Develop a process and mechanism to build and manage your customer relationships. 2. We sell and market to people. The internet today offers your customers forums, blogs, product recommendations, and other community. Develop mechanisms to capture word of mouth and respond accordingly. People will appreciate your understanding, respect, and response.
Respond with understanding and empathy. 5. There are three types of customers. (1) Raving fans, (2) Quiet satisfied customers, (3) Militant dissatisfied customers. Develop scoring profiles to monitor, manage, and respond to these types of customers. Always respond quickly to militant dissatisfied customers. Lastly, maintain vigilant customer service to keep the other customers satisfied.
6. Deploy internet interactive marketing tools to engage the customer and build a relationship. 7. Use loyalty or club cards to track customer store visits, purchases, local tastes, how they paid, and respond with one-on-one marketing offers. This requires interactive marketing tools and drip marketing tactics.
8. Monitor customer buying behavior. 9. Leverage partner relationships with key buying behavior. When customers make significant life time purchases (home purchase), send offers via your partners. 10. Companies will grow if they can manage their leaking buckets. Consider making Customer Service a C-level position to capture the resources to maintain and grow the customer base. Capture customer data and learn to offer customized products and services. sap business partner tables naw
11. Migrate customers from entry level products to more profitable ones. In the B2C world, business leaders learn quickly that building customer value is more profitable than brand loyalty. It's about building customer lifetime value versus brands that come and go.
12. All companies should be maximizing the value of their CRM Systems (Customers Relationship Management such as Salesforce, Siebel, Oracle, IBM, Microsoft, Amdocs, and SAP). In B2C enterprises marketing should be given control to manage the entire customer lifecycle. Marketing, sales, and customer service should have one view to cultivate and build profitable customer lifetime value.
13. Nokia has 60% market share of the cell phone market. It's understanding customer's perception of value and usage. 14. Measure. Manage. Measure. Capture and measure customer behavior and feedback. 15. Measure and manage long term customer value. Don't sacrifice short term sales versus the value of a long term customer value.
16. Avoid the pitfalls of competing for market share as you'll start mimicking your customers and lose your identity and market differentiation. Rather be different and maintain your competitive difference which offers the value your customers enjoy. 17. The Sigmoid curve preaches creative destruction. It's customer profitability replacing product profitability. It's Customer Lifetime Value replacing current sales. It's Customer Equity replacing brand equity. Lastly, it's Customer Equity Share replacing market share.