B2B Relationship Power is a dynamic, interactive force
that creates deep long-lasting bonds and mutual benefits.
Collaborating parties generate a singular reservoir of goodwill
more valuable than normal business activity. Magic happens!
all relevant relationship interactions.
A sustainable customer-focused company has to do more than meet or exceed customer expectations with its products and services. The company must also develop and maintain strong relationships with its most profitable customers. Differentiation derived from tight customer relationships cannot be copied by competitors.
You have a competitive advantage when both your customer interactions and your company interactions are known. Your company and your customer ultimately benefit.
Developing a relationship is a joint collaborative process—a give and take–between the prospect or the customer and the company and the company’s Frontline Staff that moves a relationship forward or backward. A Value Creation Map (VCM) is a good place to start. The map exposes and quantifies what the customer experiences.
Taking a customer point of view is a game changer. Customer relationships develop through individual interactions. A relationship begins before a prospect becomes a customer and it continues well past purchase, throughout the customer lifecycle. Mapping, then tracking the customer experience are cross-functional exercises.
To measure and manage relationships, you must:
Map what the customer now experiences in critical interactions. How easy is it for a customer to deal with you? Does it cost them any extra effort or time? What does it cost you? Do these critical interactions get the job done? Do they create or destroy value?
Companies that excel at value creation will be customer relationship-driven and will optimize customer experiences while paying close attention to profit. But first, a company has to know what customers really experience, what customers value, and what it costs the company to deliver it.
Track the customer experience into the future. Critical customer data is buried in systems across the enterprise and in the chaotic crush of interaction data coming off the Internet. A key metric has been missing until now. We call it Relationship Value. Our patented metric and process make sense of the data, transform it into relevant, actionable relationship intelligence, tied directly into business results.
Profitable customers behave differently. They buy value. They want a relationship. You can see the difference as relationship patterns. You can, that is, if you embrace our digitally transformed future!
When the relationship is actively measured and managed, your organization can unleash the potential of all your stakeholders, including customers. The keys to greater success? Tap into B2B relationship power. Understand customer relationships and their development process.
Now the customer relationship is fragmented among marketing, sales, services, finance, and operations Industrial Age silos. This functionally optimized approach leads to customer interactions that are not integrated or synergistic. Frontline Staff have to bridge too many process gaps. The customer experience can be a roller-coaster ride of good, bad, and sometimes down-right scary experiences.
The Relationship Age demands collaboration, cross-functional processes and analytics. Customers are increasingly in charge, but not in control. There’s a way for everyone to win—your company, your teams, your customers, and your stakeholders.
No more flying blind! Managing based on real-time operational data tied to individuals and to real-time profit is a huge improvement. Not only does it make for better use of resources and deliver better governance, but the enterprise can compete and win based on tighter customer relationships.
Staff and Managers can see what is happening operationally with an Individual Contact and how it compares to previously successful patterns. Staff is guided to make better and more profitable decisions in the moment, as they develop relationships. Managers can see what is working and how profit is earned in real time. They can make adjustments to optimize customer outcomes. Managers don’t have to wait until the end of a period to make adjustments. The process is transparent for all to see and use.
Relevant relationship metrics are game changers. Religence holds the patent on such a Relationship Age process and analytics. Development of Relationship Value and Variable Interaction Cost, applied to relevant interactions form the core of an operational Customer Relationship Intelligence (CRI) system. Given relevant metrics, you can predict and enjoy stronger, longer, more profitable customer relationships.
For more on why relationships matter, ask for our paper “Relationship: The Foundation of Value” Be In Touch
Our latest blog posts: Why Fly Blind?
- Answer these 7 critical business questions. Change your game!
- In digital transformation initiatives, which core systems really matter in insurance, in any business?
- Are you driving positive and profitable customer relationships?
- Would you want to be your customer? Why? Why not?
- It’s obvious…quantify Customer Relationship Value (CRV).
- Customer Relationship Value game changer…our real-time CRV Score!
- Customer profitability segmentation methods
- What is value?
- Customer profitability beats product profitability
- Align Sales and Operations for profit
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