In the aftermath of the EU’s General Data Protection Regulation (GDPR), businesses aren’t crying out for data superheroes; but for a complete, well-drilled data army. According to Gartner's Research Vice President, Mario Faria, 90% of businesses will employ a Chief Data Officer (CDO) by the end of this year. However, in a world increasingly governed by data, it is no longer the sole responsibility of a c-suite to ensure compliance – every individual is equally accountable for protecting consumers’ privacy.
This paper was originally published on smartinsights.com, the 11th of September, 2018. Republished here with permission from the author.
Technological changes are one of the leading advocators to shape customer value. They are characterized by a process of social technological variations, rooted in different disciplines e.g., economics, sociology, and psychology.
Most marketing professionals understand that insight into the hearts and minds of your customers is central to successful product innovation. But which customers? Who is going to buy my product first? What happens after that? How can I eventually grow my customer base to one billion people?
Innovation is what leads to differentiation. There need to be both “hard” and “soft,” visible and invisible forces to drive the success of innovation management.
Who among us doesn't shop on Amazon, EBay or Ali Express? Remember when we still went to actual stores for every single purchase? It wasn't that long ago. And if you think we've reached the end of the process, you're mistaken - the world is going to keep changing. The direction is clear. We're in the midst of a tremendous change.
No matter what the nature of your business is, you will inevitably encounter unhappy clients. Whether this is because it’s the fault of the company or something that couldn’t have been prevented – your first priority needs to be solving the problem.
Consumerism is already undergoing some big changes, and there will likely be even more as technology asserts itself as a dominant presence. But how exactly will these up-and-coming technologies impact manufacturers, retailers and, of course, modern shoppers?
There is nothing innovative about understanding the need to increase your online presence for a more successful marketing campaign. Where the innovation lies, however, is in the methods you use to engage your audience and drive traffic to your business’ website.
Customer experience is perhaps the single most valuable and emphasized component of business operations. Both B2B and B2C companies greatly value the concept of creating exceptional customer experience as the bottom line of achieving revenue growth.
Many people create social media profiles, and then simply leave them online, not particularly performing or contributing to business at all. Social media can be considered a necessary, if not a little meaningless, use of time and resources, but the people who think this way are often missing out on the amazing conversion rates that social media can offer when used properly.
Strengthening Your Intra- and Inter-Department Partnership – The Welcome Side Effect of Design Thinking
Imagine a world where customer service, procurement, marketing, finance, operations, human resources, and sales can truly help each other and work together, instead of stepping on each others’ toes and pointing fingers. A world where all parts of the organizations work together with a shared sense of purpose, no matter how different their cultures, processes, and systems, have been in the past.
The customer is always right. The timeless aphorism holds truer now than it ever did before, as the customer truly drives the ever-changing trends and shapes the industry, with companies battling each other to stay relevant in the hearts and minds of their devoted audience.
If there’s one mistake that marketers keep repeating, it is treating their customer base as a demographic instead of as a group of individuals. With this in mind, it comes as no surprise that personalizing your message increases your engagement rate while personalizing your brand as a whole tends to give your customer loyalty a boost.