Humans require motivation to act. It is a simple and true fact. If you want people to do something, you have to create an environment that compels them to do it. Marketing has the challenge of inspiring to people to buy. Operations have the challenge of encouraging them to do it economically. It is confusing and annoying when the two have conflicting messages.
Customer Relationships
The American Customer Satisfaction Index (ACSI) released their fourth quarter results today. According to their commentary, in 2001, an uptick in the American Customer Satisfaction Index (ACSI) signaled that a rebound in the economy was near. This time, it is different.
If you create an integrated cross channel business model, your can have your service cake and eat it, too. We have all been in those budget meetings where the CFO recommends cutting service to reduce expenses.
Competition is unrelenting, costs are escalating, and consumers are hesitant in the multichannel marketplace. When a potential buyer calls the company for more information, the difference between a sale and an expense is the conversation with a customer service representative (CSR).
Years ago (at the risk of dating myself), there was a great debate in the catalog industry on how to calculate customer lifetime value (LTV). Heavy hitters weighed in with formulas that measured, projected, and/or weighted the numbers.
