Mobile Strategy- what Mobile Strategy?

In a recent study published CIO’s have ranked Mobility as a priority No 2 in 2017. I find it slightly disturbing only 54% of companies have a mobile strategy in place yet only 34 % have any in-house mobile development skills. in a connected world I would have expected the figures to be higher and of more importance to organisations today. Especially as the consumer usage is on the up see below;

Mobile Strategy- what Mobile Strategy?

In a recent study published CIO’s have ranked Mobility as a priority No 2 in 2016. I find it slightly disturbing only 54% of companies have a mobile strategy in place yet only 34 % have any in-house mobile development skills. in a connected world I would have expected the figures to be higher and of more importance to organisations today. Especially as the consumer usage is on the up see below;

Customer Loyalty – is the mobile wallet the way of Loyalty in the future? http://wp.me/s3aCAV-2

What does it mean to be “customer-centric” as a Business?

Assuming that you start with a quality product and service, being customer-centric means understanding the customer’s point of view and respecting the customer’s interest. You fix problems, handle complaints, and remember individual customer preferences.

Customer Loyalty programmes assist and are the platform to meet this objective. Mobility plays an important part in meeting the demands of the customer and achieving the company objectives

But customer centricity isn’t merely a matter of adding up the different components of quality, service, insight and responsiveness.

You can and should introduce all these ideas into your business model, but if you don’t grapple with your company’s most basic strategic objective, then sooner or later your efforts will fail.

In the past I’ve found it helpful to explain the contrast between customer centricity and product centricity by understanding three criteria that actually help organisations to differentiate themselves from the competition. If you think about it, for a business to be competitively successful, it must meet three criteria:

  1. It must be able to satisfy a customer’s need
  2. It must identify a customer who wants that need satisfied
  3. Organisations must communicate in the media of preference and choice.

In this world of immediacy that we live in is the mobile wallet the way to go for customer loyalty in the future? What are your views

Loyalty and Mobile

 

Customer Lifetime Value is still a valuable metric (LTV)

How To calculate Lifetime Value (LTV) – Interesting example Starbucks Infographic

Net Promoter Score or traditional LTV model  or predictive analysis. Many ways to look at LTV myself I still prefer the traditional LTV model for customer acquisition to estimate retention (“LTV”) of a customer. Roughly defined, LTV is the projected revenue that a customer will generate during their lifetime. What are your views welcome as always.

Interesting Infographic on the model.

How To Calculate Customer Lifetime Value

Customer-Centricity – is the mobile wallet the way of Loyalty in the future? http://wp.me/s3aCAV-2

What does it mean to be “customer-centric” as an Airline or Business? Assuming that you start with a quality product and service, being customer-centric means understanding the customer’s point of view and respecting the customer’s interest. You fix problems, handle complaints, and remember individual customer preferences. Customer Loyalty programmes assist in this objective.

But customer centricity isn’t merely a matter of adding up these different components of quality, service, insight and responsiveness. You can introduce all these ideas into your business model, but if you don’t grapple with your company’s most basic strategic objective, then sooner or later your efforts will fail.

In the past I’ve found it helpful to explain the contrast between customer centricity and product centricity by understanding three criteria that actually help organisations to differentiate themselves from the competition. If you think about it, for a business to be competitively successful, it must meet three criteria:

  1. It must be able to satisfy a customer’s need
  2. It must identify a customer who wants that need satisfied
  3. Organisations must communicate in the media of preference and choice.

In this world of immediacy that we live in is the mobile wallet the way to go for customer loyalty in the future?  What are your views

Customer Loyalty – is the mobile wallet the way of Loyalty in the future? http://wp.me/s3aCAV-2

What does it mean to be “customer-centric” as an Airline or Business? Assuming that you start with a quality product and service, being customer-centric means understanding the customer’s point of view and respecting the customer’s interest. You fix problems, handle complaints, and remember individual customer preferences. Customer Loyalty programmes assist in this objective.

But customer centricity isn’t merely a matter of adding up these different components of quality, service, insight and responsiveness. You can introduce all these ideas into your business model, but if you don’t grapple with your company’s most basic strategic objective, then sooner or later your efforts will fail.

In the past I’ve found it helpful to explain the contrast between customer centricity and product centricity by understanding three criteria that actually help organisations to differentiate themselves from the competition. If you think about it, for a business to be competitively successful, it must meet three criteria:

  1. It must be able to satisfy a customer’s need
  2. It must identify a customer who wants that need satisfied
  3. Organisations must communicate in the media of preference and choice.

In this world of immediacy that we live in is the mobile wallet the way to go for customer loyalty in the future?  What are your views

Inside the ‘Big Data’ Tornado – The Holy Grail. http://wp.me/p3aCAV-1p

Big Data and Digital revival in search of (The Holy Grail)

As we are all aware Airlines, Hotels, Financial Services organisations and Retail businesses today are undergoing a Big Data revival and Digital revolution – It is in the pursuit of the ultimate Customer Experience and the potential incremental profits that spur on the enterprise –  The speed and pace of progess is alarming and somewhat likened or akin to rushing head on in over a chasm!

The anology of a Chasm brings me to a book I read many years ago on the growth and development of organisations within the Hi Tech Industries authored by Geoffrey Moore. The book was titled ‘Crossing the Chasm’ and the anology and principles it is grounded on still hold true today, this was followed by another book called ‘Inside the Tornado’ which builds on the former book.  Both books a recommended read.

Below is a recent quote from the Author Geoffrey Moore in respect of Big Data and The Digital experience;

Geoffrey states;

We are putting the entire world on the Web and have digitized the consumer experience,” Moore said. “We are now digitizing the business experience including government and healthcare. The tool set you need to digitize requires Big Data because it’s not just about handling data before and after, it’s about handling data during transactions. Without Big Data, you are blind and deaf and in the middle of a freeway.”

Crossing the Chasm

In Mr Moore’s analogy organisations go through phases of maturity and evolve. It would be true to say they re -invent themselves and develop strategies and tactics to succeed and ‘Cross the Chasm’ or they fall off into the precipice to be forgotten.

Once on the other side they position their Brand, Products & Services to meet the needs of the customer and enter ‘The Tornado’ the place to be – where it is all happening, eventually emerging as a successful organisation into Main Street.

Inside the Tornado

Inside the Tornado

However I have an issue – My Issue with Big Data and playing inside a Tornado!

My issue is…

Most organisations have been advised, understood and embraced the idea of Big Data and indeed spent many $M in the process. They are now in a rush wholeheartedly towards the chasm to get inside the Tornado without fully understanding what is inside or what is required to gain entry!

Now in anticipation at the precipice they stand and reflect – they are indeed wondering what to do with all this data they have amassed and how they can use it to get them across the Chasm to ‘Inside the Tornado’ and the Holy Grail!   

What is needed now- Customer Insight, Segmentation and understanding of Customer Value -Perhaps?

More will follow on this topic – your views please welcome as always?