New technological developments are also creating new marketing possibilities. Apart from customer centricity and selling without selling, technology is the third key competency for the marketing organization of the future.
Naturally I’m not talking about resorting to technology for technology’s sake. The introduction of technological innovations serves a triple purpose:
Various studies point in the same direction: customer loyalty is disappearing in a hurry. Consumers put less trust in brands and tend to switch brands a lot faster. The famous 80/20 rule (20% of the customers account for 80% of the turnover) has turned into a 60/40 rule (40% of the customers generate 60% of the turnover) and is slowly evolving towards a 50/50 rule. In the latter case, loyal and disloyal customers generate the same amount of income. This shift is putting quite a few established marketing tactics in doubt. Should marketers invest less in loyalty programs? Or should they invest more? Should marketers favor proven methods such as investing in mass media?
Read more »It’s no secret that social media can be used to follow conversations between consumers. To capitalize on this trend, many companies have invested in all manner of systems ranging from simple to complex. Monitoring online conversations is becoming common practice and many companies have adapted their organization so they are able to react quickly and efficiently to customer questions and complaints.
Social listening will come of age over the next few years and much can still be done to take social listening to the next level. This article examines the cornerstones of social listening in the future.
Putting theory into practice – in this article as well
In writing this article I wanted to try and put the theory into practice. I asked my followers on Twitter for feedback on the rough draft of this article. There was quite a bit of response and I wanted to share the input and reactions with you in this article.
I’d like to thank everyone who devoted their time and energy to helping me write this story. Thanks to Wilco Eindhoven (communication advisor Ministry of Social Affairs and Employment), Stefan Schippers (beep.be), Edwin Vlems (speaker), Lie Lauwers (Nieuw Administratief Centrum), Bart De Waele (Wijs), Frank Plehiers (ING), Anne van den Berg (Lumido Business Media BV), Leentje Chavatte (Telenet), Ruben van Loosbroek (Rabobank), Joyce Philippart (Amsterdam Chamber of Commerce), Katolina Dijkstra (ING), Jan Homble (VRT), Davy Kestens (Twitspark), Stijn Tanghe (Kortrijk City Council), Bob Rietveld (Oxyme), Erik Versteeg (Viamens Executive Management Services), Dado Van Peteghem (Dearmedia).
Setting your goals: why invest in social listening?
Social listening is interesting for any organization, be they profit or non-profit, or private or government. Online listening can bring a government closer to its citizens in the same way that a company gets closer to its customers. Regardless of the context, it is key to think about what you’re trying to achieve with social listening. Ruben Van Loosbroeck (Rabobank) rightly remarked that social listening often involves a significant investment, hence the importance of proving its relevancy and realizing its potential.
This is the last post about our trip to Silicon Valley. The first post was about the ‘customer first, without compromise’ approach. The second about the organizational design to make it happen. Today’s post is about the purpose driven culture.
Purpose-driven Culture
Clear & Inspiring Purpose
Most CEOs understand the power of purpose. A purpose is a “higher goal” for the organization. Starbucks says it best: “To inspire and nurture the human spirit – one person, one cup and one neighborhood at a time”. Starbucks is not about selling coffee but about bringing people together. When you visit the company, this mentality is palpable in every corner of the building. Every employee breathes this mentality.
Friday we talked about the philosophy of customer first without compromise. This philosophy can only be achieved via a new way of working. This can only be achieved through a network organization. In this post, we share the details about this philosophy.
The Network Organization
The Age of Networks
All around us, thanks to the extreme effects of digitization, we’ve started to shape a society that is entirely based on the concept of networks. Networks of information, networks of knowledge, networks of entertainment, networks of friends, networks of enterprises. Everything we see around us is based on the concept of networks, fueled by digital technologies that are making our society a more connected and networked system every single day.
We won’t be able to understand, or leverage, the age of networks if we don’t start to think about our world, our businesses, our companies, and our markets as complex, internetworked systems. We have to understand the new language of the age of networks if we want to reinvent our companies.
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