If you think about different organizations, including your own, you will notice a spectrum of ways that companies think about building their success. During the heyday of the mass marketing era -- practically all of the 20th century -- companies were very product oriented. Companies tried to develop good products and then find customers for those products. Today, new technologies and rising customer expectations require companies to develop good customers and then find the right products for those customers. This customer-first approach requires a shift from product centricity to customer centricity.

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There is a treasure chest of data sitting within most companies, waiting to be opened. Companies collect a wealth of customer-related information that they rarely use. Using this information effectively, however, would allow them to clearly understand what is happening in their business, what will happen next, and how they can influence future performance.

We believe that companies can approach their data initiatives in a smarter, more strategic way. Peppers & Rogers Group has introduced a methodology called info|SMART.

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For executives who make strategic decisions based on customer data, gaining a single view of the customer is the Holy Grail. One of the key benefits of multichannel integration is gaining that holistic view. In many organizations, however, channels have been built separately and independently, leading to inefficiencies, fragmented views of the customer, and conflicting messages to the customer.

To provide consistent, targeted, and meaningful customer experiences, companies must work to align and integrate all their channels and customer touchpoints. There are three steps that lay the groundwork for doing so.

Continue reading "Customer Strategist Simge Alpargun:
Building a Multichannel Framework" »

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Under the current business model, healthcare insurance in the United States is sold to individual consumers through brokers and employers. But as the U.S. healthcare industry continues to undergo reform, the market will increasingly shift from a B2B model to more of a B2C model where individuals have a stronger voice in their healthcare decisions, including greater choice over the healthcare insurance provider they select. As such, it's going to become increasingly important for healthcare insurers (i.e. payers) to develop a much better understanding of the needs, behaviors, and value of individual customers in order to tailor product offerings and support more cost-effectively.

Continue reading "Customer Strategist Dietrich Chen: Customer Segmentation in Healthcare -- A Prescription for Survival" »

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