In my previous article, I have tried to establish the fact that the organizational structure that works for a customer centric enterprise will not work for a product centric enterprise.
In another related article, I have also looked at the differences between a product centric enterprise and a customer centric enterprise.
In this article, I want to narrow it down by looking at the customer relationship management marketing plan or what the focus of marketing department is in a customer centric enterprise.
In a product centric enterprise, the focus of the marketing department is to create awareness about products and services that the organization have for sale. In a customer centric enterprise, the department is more interested in advising the organization to develop products and services based on customers’ feedback .
It is also all about one on one marketing unlike mass advertising which is the most common technique used in a product centric enterprise.
Having said that, I want to look at some of the factors that makes the marketing department in a customer centric enterprise different from their counterpart in a product centric enterprise.
Follow me as we do this together.
#1 Household value
One of the basic things that customer centric enterprise marketing department does differently is that they try to find out both nuclear and extended value of their customers. They do not judge customers on their face value.
They are more interested in finding out the relationship that their customers keep and how this can help them to increase the profitability of their customers.
#2 Customer satisfaction survey
Customer centric enterprise marketing department also carry out customer satisfaction survey on regular basis in order to know how satisfied their customers are with their products or services.
They want to know at what rate customers are leaving their organization which is an indicator that customers are not satisfied with their products or services.
#3 Retention activities
Customer centric enterprise marketing department also concentrate much on activities that will help them to retain their hard earned customers.
They tried to identify risks involved in customer retention and other negative trends that can make the organization to lose customers as well as other activities that will boost customer retention.
#4 Wallet share
Is it also the focus of the marketing department to identify the wallet share of their customers, that is how much will a customer be willing to spend on their products and services.
That will help them to know the next best product to introduce to a particular customer.
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