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Casual Articles - Information as a Competitive Advantage Part 2: Creation of Customer Value
One of the certain aspects of working life is that unexpectedly you can be assigned a project to do. In fact if you are building a business of your own you will have long-term projects that are essential to its profitable development.But in order to ensure the smooth and successful running of your business it's vital to have efficient systems in place to deal with these projects. Most of them will have deadlines for completion at some point in the future. But it is how you deal with these deadlines that will determine how efficient you are at managing your business.The simple thing to
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and dispo
When people think of your business, you want them to associate it with excellence and superiority. In order to do this, you must project a clear image about your business, and make good first impressions. Whether online or in a store, it's important that everything is neatly organized and well-designed, so that prospects get a good first impression. Remember, first impressions stick with the prospect, well after they leave your business.How do you advertise? Is your advertising restricted to the Internet, through banner ads and text links? Or maybe you use small magazine ads or you've tried a
The following information categories form a frame of good understanding of the Customer.
Customer behavior:
Products and services that are purchased
Product portfolio, product versions, supplementary services, product features
Recency and frequency of purchases, monetary value of transactions
usage characteristics of a continuity service (e.g. a credit card or a telephone subscription)
Share of wallet spend with the business and with competition
Customer interaction history:
Service calls, complaints, campaign offer contacts and customer reactions
Customer value estimations:
Customer total and per product revenue value
Customer lifetime value or equivalent metrics
Purchase-decision making process by the Customer:
Factors which influence choices (e.g. cost, product manufacturing quality, product design, product packaging, product/business reputation)
product information which is essential to support the decision (e.g. cost, product features)
How does the Customer purchase:
purchasing channel preferences
interactions required in order to carry out a purchase
Customer service after the purchase:
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and dispo
I once had a designer that took her work very seriously. Before she did any designs, she would interview you; take a look at your product offerings and your personality. It seemed like this was crazy at first but the result was a logo that fit with the company and it's philosophy. She actually went beyond just the interview, she designed meaningful symbols. Each symbol she chose had a story behind it. When you received your design, she also had a booklet with an explanation of how the design was developed and what each part of the symbol meant. Although you do not find many people who do this, it do
usage characteristics of a continuity service (e.g. a credit card or a telephone subscription)
Share of wallet spend with the business and with competition
Customer interaction history:
Service calls, complaints, campaign offer contacts and customer reactions
Customer value estimations:
Customer total and per product revenue value
Customer lifetime value or equivalent metrics
Purchase-decision making process by the Customer:
Factors which influence choices (e.g. cost, product manufacturing quality, product design, product packaging, product/business reputation)
product information which is essential to support the decision (e.g. cost, product features)
How does the Customer purchase:
purchasing channel preferences
interactions required in order to carry out a purchase
Customer service after the purchase:
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and dispo
The identity statement should allow anyone to understand or recognize your business as you would like them to. Taking this one step further, it should also answer the question Who Cares? If you are having trouble with your identity statement, ask your spouse, friend or colleague to tell you what they perceive your business to be. This may help you assess if you have been clear in your description of what you do. (Taken from The Ultimate Guide to Creating a Thriving Business, Yvonne Weld, 2007).Simply put, your identity statement does precisely that; conveys to others what exactly your
Customer value estimations:
Customer total and per product revenue value
Customer lifetime value or equivalent metrics
Purchase-decision making process by the Customer:
Factors which influence choices (e.g. cost, product manufacturing quality, product design, product packaging, product/business reputation)
product information which is essential to support the decision (e.g. cost, product features)
How does the Customer purchase:
purchasing channel preferences
interactions required in order to carry out a purchase
Customer service after the purchase:
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and dispo
In today's competitive job market, a first class resume is an essential tool for winning an interview. The way in which you present your skills, achievements and experience on paper will profoundly affect the way in which a hiring company considers your application.An expertly crafted resume not only captures the attention of its reader through careful attention to layout and formatting; it also targets the specific needs of the potential employer by matching and highlighting your abilities and background to the key requirements of the position.So what exactly is the 'perfect
product information which is essential to support the decision (e.g. cost, product features)
How does the Customer purchase:
purchasing channel preferences
interactions required in order to carry out a purchase
Customer service after the purchase:
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and dispo
It is so easy to fall for their sales pitches. I know, even after creating my site I still find some of the sites tempting. But then, after listening to their lies you did the unthinkable and paid money for their service . . . and ended up with a bunch of nothing.You're mad, now it's time to get even. No, I don't suggest you bomb the company. I suggest you put them out of business legally. There are lots agencies out there that are designed to do it for you. Contact every single one of them. Use your anger to fuel your fire. You'll find some satisfaction in knowing that while they may have go
support type and frequency, the Customer requires during products or services usage
preferred customer service channels (e.g. web channel or call center)
Personal sociographic profile of the Customer:
Marital status and household characteristics
Financial condition (income and disposable income)
Education level
Lifestyle / Preferences
how does the Customer relate to predefined customer segments or profiles (e.g. Prizm clusters in the US or Meta-Milieus profiles in Europe)
demographics of the neighbourhoods in which the Customer base lives (geodemographics)
Other factors affecting purchasing behavior
External factors affecting Business Customer behavior:
Competitive environment and market trends
macroeconomic factors which influence the market
Regulatory environment in the market
In certain cases, the data gathered can be overwhelming. For example the phone calls made by a long list of Customers, are generating an enormous volume of call detail records. The telecom company should design a realistic approach to handle this valuable information effectively.
Customer holistic view
Many Businesses operate legacy systems serving exclusively a specific business process or a specific organizational unit. These legacy systems capture customer information and they are hardly accessible by other organizational units. Therefore, information on customer interactions with the Business, is dispersed in uncoupled systems which form information silos. This Business
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Related Articles:
Creating a Powerful Brand Name
The (Missing) Link Between Thoughts And Action
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