Erasmus students Weblog


The Boomerang Effect (summary) B.V.
October 21, 2008, 10:49 am
Filed under: Classes

The Boomerang Effect

How Market Dynamics Are Driving Customers Back to the Manufacturer

Nowadays, buying products customers have a direct pipeline to the name on the label, and they expect the manufacturer to be ready to provide information whenever they want it. These customers have known and respected your brand; now they are raising the stakes of your relationship with them. Manufacturer should ask himself: Are we prepared to take advantage of this new dynamic?

Consumers now assume they have access to any brand they want, regardless of where they purchased the product. Consumer cares less about where they buy than where and how they get support and service.

As manufacturers become more involved in servicing – and occasionally selling to – end customers, how is the role of their channel partners changing? The changes have been a major wake-up call to retailers and resellers to improve the quality of their own customer service, both in stores and via the internet. They have to figure out the value they are adding beyond holding the product for pickup.

Companies should look at the rich insights they are collecting from online and call center interactions as an opportunity to get to know their customers and serve them more effectively. The better companies serve them, the more they will reward companies with loyalty and revenue. As organizations develop new processes for managing and measuring the relationships they have with online customers, they’re able to leverage those efforts to drive more effective marketing campaigns.

Advices to companies in communication with customers:

· Don’t overdo the promotional offers – and never communicate with customers about topics they have not expressly shown an interest in.

· Think about how you would like to be treated as the customer – that’s the right attitude to take.

· Treat different customers differently. Relationships are developed with individuals having specific needs – not market segments – and it is therefore necessary to identify each customer uniquely.

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2 Comments so far
Leave a comment

Well done! Just two lines help to stress the importance of CRM:
1) “buying products customers have a direct pipeline to the name on the label, and they expect the manufacturer to be ready to provide information whenever they want it”.
2) “As organizations develop new processes for managing and measuring the relationships they have with online customers, they’re able to leverage those efforts to drive more effective marketing campaigns”.
A lot of ideas to be explored…

Comment by Angela

Well done! Just two lines help to stress the importance of CRM:
1) “buying products customers have a direct pipeline to the name on the label, and they expect the manufacturer to be ready to provide information whenever they want it”.
2) “As organizations develop new processes for managing and measuring the relationships they have with online customers, they’re able to leverage those efforts to drive more effective marketing campaigns”.
A lot of ideas to be explored…

Comment by Angela




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