Customer satisfaction is passé. So is customer delight. Both have been eclipsed by what Amazon’s Jeff Bezos calls “customer obsession.” At Amazon, every effort is centered on providing the best possible experience for the customer—delivering on their needs and being worthy of their trust.
It is no secret that in this age of the customer, data creates business value, especially to us marketers. Each data point is an opportunity to know customers better and engage with them in what we call “a relevant dialogue”. But this opportunity is also a challenge. With the upsurge of technological advancements happening today, there is a heap of customer data piling up at an exponential pace and in most cases, just sitting there. Brands too are grappling to keep up with this wave of ‘big data’. Today, companies have more data than ever at their disposal and less time than ever to identify how to use it. This conundrum raises the question: How can marketers effectively use data as a strategic resource to surpass customer expectations and increase profitability?
IoT is disrupting all industries, exploding across new facets of behavior and putting customers in the driver’s seat. It has set new customer expectations that most brands are struggling to meet. Today’s CRM efforts must harness the power of IoT to deliver unmatched customer engagement and experience.