The most innovative companies in the world place customers at the center of their business.
Those companies strive to deliver a superior experience to the customer, before, during, and after a sale.
They have retooled their processes and refocused their entire organization to think from the customer’s perspective. Companies like Apple, Amazon invest billions of dollars in developing products that push the envelope on how customers interact with technology, so that they can do things they’ve never imagined.
That customer obsession is nearly ubiquitous.
Companies have realized that customer focus is a source of competitive advantage and a business imperative fueled by increasingly demanding customers.
The ways customers communicate, socialize, and relate to companies and brands has changed, with expectations elevated by the emergence of social media channels.
Now, new challenges have emerged, especially in the subscription economy in which customers can unsubscribe at will.
In the SaaS world, customer lifetime value (LTV) is realized over multiple terms and intimately tied to the extent of adoption of the solution by customers and the value that they derive from it.This phenomenon goes beyond the world of software, and it is more pervasive than we realize.Moreover, there is also the threat of disruptive innovations.
Let’s take a simple example. ZipCar, a neighborhood short-term car rental service, was set to disrupt the world of car ownership and hired taxis, especially in urban areas. However, its dominion was upended by the arrival of Uber and Lyft.Companies must constantly be on the lookout for these disruptions and have a plan for how to pivot.Now, marketers are rethinking the tools and platforms used to engage with customers at different stages of the customer journey.
Just as the Marketing Technology Stack has grown, the Customer Technology Stack is now rapidly expanding and coming into focus.Six broad categories have emerged over the last decade in response to specific needs.The broadest category in the customer technology stack is Customer Relationsh