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Transforming Customer Engagement: Strategies for Relationship Building and Value Creation

In today’s competitive landscape, successful social strategies are essential for reducing costs and enhancing customer willingness to pay. Organizations must leverage technology and foster a culture that respects crowd input. By engaging in authentic storytelling and understanding customer segments, brands can co-create value in a Web 2.0 world, where users drive engagement. Utilize tactics like upselling, crowdsourcing, and focusing on customer lifetime value to flourish. Are you equipped to implement these transformative strategies?

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Transforming Customer Engagement: Strategies for Relationship Building and Value Creation

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  1. “Successful social strategies (1) reduce costs or increase customers’ willingness to pay (2) by helping people establish or strengthen relationships (3) if they do free work on a company’s behalf.” • What’s your strategy? Is your organization equipped with the technology and the culture to implement you strategy? Respect the Crowd! Concept of Skew & the 80/20 rule Buzz is dull. Buzz isn’t enough. What Would Google Do? SEO and SEM Be AUTHENTIC what a brand means. Consumers decide Storytelling Ambient Awareness Myths Fire you? I just spent $10 million educating you! Cognitive Overload Associative Thinking & Cultural Narratives CRM is not justsoftware. It’s a philosophy. Holy sh*t! We’re in the wrong forest! If you’re product is free: Up-sell Cross-sell Bundle Charge third parties MassCustomization Find out what people want… Customer LifetimeValue & Customer Referral Value Endowed Progress Effect Creative Destruction Falling forward. AND GIVE IT TO THEM! Not all customers are the same. Segment your base! (Preferably in Segments of one) Crowdsourcing/Wisdom of Crowds Learning Organizations are generally • market oriented and have a culture. Co-Creation of Valuenever ends. Segment, Target, & Position In a Web 2.0 World, the users create the value. As a company… Be Paranoid! Before: Web 1.0 World (top-down creation of value) Today: Web 2.0 World (bottom-up creation of value) Sales and Networking are based on reciprocity. Give first! Brian Thomas BMKT 7652 Celebration of Progress Interactive Marketing

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