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2017 Predictions from DemandLab's CEO Rhoan Morgan

2017 CEO Predictions for SLMA from Rhoan Morgan CEO of DemandLab

6a0147e05adc32970b01bb096d0fc1970d-320wi2017 will be the year of customer journey and engagement. But not by the means or teams we traditionally think of. This will be driven by new capabilities born out of our age of digital transformation and it is no longer an aspirational goal for companies – it’s a must do. It’s key to advancing business goals, driving revenue and remaining competitive.

The goal of this initiative is to bring marketing, sales and service together through joint interests in increasing revenue, expanding customer lifetime value and deepening the customer relationship.

Why 2017 will be Different

Rhoan_Morgan“The goal is to bring marketing, sales and service together through joint interests in increasing revenue, expanding customer lifetime value and deepening the customer relationship… companies must break down business team silos to design superior customer journeys and better manage customer experience by restructuring teams (or introducing new teams)”

What will all of this do? Lower the cost of transactions while operating at volume or scale that was previously unheard of. As information moves into the digital realm, we can apply digital versions of tools, decision making and automation in such staggering amounts at so little cost that a human can barely comprehend it all. This is a 1+1=3 problem that has the potential to bring tremendous value to companies.

Image001To do this, companies must break down business team silos to design superior customer journeys and better manage customer experience by restructuring teams (or introducing new teams). This will not be in the hands of a single team, rather we see a cross functional team that will include IT and finance in addition to the usual suspects. They will focus on enterprise architecture; master data management; and proper analytics to create and drive exceptional customer engagement experiences – and on the terms of today's B2B and B2C customer (their expectations are the same!).

Companies need to keep their eyes on these foundational pieces while also incorporating strategies around mobile, exciting tech like geo-location beacons, artificial intelligence, automation, and very advanced analytics. And lest we forget the customer – we must orchestrate all of this while keeping the customer front and center: their needs, their terms, their time, their attention.

The multiplier effect, when done well, will certainly accelerate revenues for companies this year and beyond.

Rhoan Morgan was a guest on SLMA Radio.  Listen here.

 

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