A peak into the future

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-1

 We should be attuned to changing realities and
relationships.
 Four areas of change:
1) Enhanced Personalization
2) Evolving Customer Demographics
3) Increased Transparency
4) Broader Mobility

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-2

 Technology helps build one-to-one
relationships with:
◦ Personalized products
◦ Customized messages
◦ Tracking individual customer behavior

 Share of Wallet:
◦ The percentage of disposable income owned by one
company
◦ Stronger relationships can lead to better SoW

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-3

 Demographic diversity
 More internal and external customer
involvement in company decisions
 Increased demand for new and different
products and services:
◦ Baby Boomers
◦ Youth - Tech for Tots
 Wider mobility options + Flexibility
 Companies must be alert, innovative and
willing to change to meet changing customer
demands
Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-4
Trust & Transparency
in Business

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-5

 Interactive options (adaptive media) are:
◦ Individually addressable and highly adaptive
◦ Interactive (two-way communication possible)
◦ Affordable and powerful
◦ Making things easier for customers

➢Exact Media – An old business made new and

improved through adaptive media

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-6

 Some things remain the same
◦ Human touch that conveys caring, concern,
competence
◦ Demand for fair value
◦ Need to satisfy customer needs and wants
◦ Need to build relationships
◦ Need to understand the future value of ongoing
customers

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-7

 EXAMPLES:
◦ Use of data base info
◦ Gift reminders or automatic buying for future
shipment
◦ Reminder postcards and emails
◦ Easy customer feedback systems
◦ Mobile apps

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-8

 The business landscape is ever-changing and
market forces will demand adjustments.
 Cultivate your company’s insight into the
future of its customer service by considering
opportunities to
◦ Personalize
◦ Adapt to new demographics
◦ Enhance transparency and trust
◦ Take advantage of broader mobility

Copyright ©2014 Pearson Education, Inc. publishing as Prentice Hall 7-9