Blog: Why Fly Blind?

What’s Happening!

Are your B2B relationships getting stronger or weaker?

Get ready for a game changer:

A real-time Customer Relationship Value Score!

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Answer these 7 critical business questions. Change your game!

Are your B2B relationships getting stronger or weaker? You really need to know!
If you’re relying on scores that are not based on real-time operational data tied to an individual contact and what they actually DO, how useful and how actionable is your information? How predictive?
With our Customer Relationship Value (CRV) Score, you could answer these 7 critical business questions… predictively in real time. And change your game.

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In digital transformation initiatives, which core systems really matter in insurance, in any business?

The InsurTech Silicon Valley Summit on Core Systems and InsurTech Fusion March 29-30, 2017, hosted by the Silicon Valley Insurance Accelerator (SVIA) got us thinking about core systems.

To get really, really basic here: in our Customer Relationship Intelligence (CRI) Framework we define a business as a set of activities between a buyer and seller performed for gain. In a product/company centric world, no one worried too much about the customer’s gain. Now in a customer centric world where the customer is increasingly in charge, there is a risk of making the same mistake, by not making sure that the seller gains.

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Are you driving positive and profitable customer relationships?

Why you need more than traditional customer loyalty metrics to map and track success was the subject of a Marketing Operations Partners and their Marketing Future Forum podcast hosted by Helene Eichler and featuring Religence CEO Linda Sharp. To give you a taste of what you’ll hear in the podcast, here are five critical considerations Sharp says you need to have:

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Would you want to be your customer? Why? Why not?

Would you recommend your company…to your best friend? If not now…soon you may…with the shift to delivering customer value underway. In the global economy of the 21st century, products have become commodities. Global companies can match the features and prices of almost any product in any industry. What then can companies do to differentiate their offering and add customer value?

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It’s obvious…quantify Customer Relationship Value (CRV).

“It’s said that all new ideas are dumb until they are obvious, this one is becoming obvious. Religence is at the forefront of quantifying customer relationship value for B2B enterprises with big data. It’s curious that companies spend billions of dollars today on technology solutions to win new customers but very little to quantify customer relationship value, which is the key to retention and up-sell.

“In most large B2B enterprises existing customers make up the lion’s share of revenue but the investment to analyze data beyond simple annual CSAT surveys is trivial.

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Customer Relationship Value game changer…our real-time CRV Score!

Picture yourself going into a critical meeting with key customer executives. You do a quick check of your mobile device. You check all the relationships and the important opportunities on the table. Are your relationships stronger or weaker? What’s the trend for relationships, for opportunities? Where do you stand with this Buyer for new and for continuing business…right now?

You could know all that if…

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Customer profitability segmentation methods

Which customers should you cultivate and grow? You do not have to sacrifice profit for growth. You can have both…when the needs of marketing, operations, and finance are balanced,
•when your organization is aligned cross-functionally so that everyone speaks in the common language of profit, and
•when customer value expectations are set.

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What is value?

Value is a concept often discussed in business, but value has been as hard to define as the measurement and management of the intangibles inherent in creating it. “A cynic is a man who knows the price of everything and the value of nothing.” and…

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Align Sales and Operations for profit

In over thirty years of pioneering differentiated customer service, our Religence Executive Consultant and Sales and Operations alignment expert, Bob Sabath has seen how few customers it takes to build the profit for a company, and what a huge difference it can make to a company’s bottom line if it pays more attention to those most profitable customers.

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Customer Success at all costs? We say, “No!”

Avoid the trap many companies fell into with TQM (Total Quality Management), where they went for quality at all costs, without thinking as much about profit as they should have. The same thing could happen in the rush to provide a great “customer experience” or to make sure that all customers are successful.

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The Challenge of B2B Customer Centricity

There has been a lot of focus recently on customer value. Terms like customer experience, relationship management, and customer-centricity have become common in the business press. But almost all of the focus has been on the B2C business environment. Now we have some data from Gallup that is based upon the B2B environment – and it isn’t pretty.

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Profitability Focus Checklist

12 ways to get your head around which customers really are profitable. Run the numbers (or at least estimate very well) where your profit comes from. And where it doesn’t. Celebrate the customers who bring you success, and leverage your resources to delight them.

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Value customer relationships. Drive profit.

Can you quantify your relationships? Track relationship status? Can you measure relationship cause-and-effect? Can you manage to relationship patterns? Do you know what it costs you to engage your customers? Do you pay attention to the Customer Experience? Our breakthrough Relationship Age processes and analytics give you five ways to put a value on your relationships.

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Contribution margin for marketers

Financial records and economic principles should not be the exclusive domain of accountants and the IRS. Marketing executives will gain by using the more accurate ‘contribution margin’ approach to better allocate scarce marketing, sales and customer service dollars. Careful allocation produces greater overall long-term profitability.

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7 tips for listening to the Voice of the Customer

Customer relationships are fundamental. It is critical to stay close to customers, whatever the economic conditions. A one-on-one conversation is how to find out what is going on with customers, how to learn what they need to be more successful—and how you can help them thrive–anytime.

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Why ask WHY?

To be customer-focused, you need to ask your customers, WHY? Voice of the Customer (VoC) research helps you know why your customers value your offering. Why they need what they need, why they purchase. Why they purchase from you, not your competition. Why they stay with you. Or why they’d leave if they could. Why they tell others about you. Or why they don’t.

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Collaboration Maturity Curve Part 2

Measuring and managing communities is a reasonable place to begin to map and track the Customer Experience for two reasons. First, these Interactions are digital and can be found in BIG Data. Second, social media and communities are driving the integration of Marketing, Sales, and Customer Service silos.

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Why do you need Customer Experience Performance Management?

Many executives are flying blind about their customer relationships. Why? Because their steering wheel is attached to the rearview mirror!
It’s what you know, who you know, and even more important, what you know about who you know, and when you know it!
Exactly when is the so-called “right time”? The right time is in time to do something to affect the outcome!

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The MONEY is in Retention. Start there.

Spend time and money where there is the greatest payoff. Although you could map and track the customer experience across the continuum of Acquisition, Closing, and Retention, the practical place to begin is Retention. It’s the sweet spot for competitive advantage and profit.

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10 innovative ways to optimize customer value.

It’s time to think differently about customer value. Customer value is mutual—of value to you and of value to the customer. Do you take both points of view with everything you do? Do you seriously question all company activities to make sure they are delivering value to the customer? Are you ready to stop doing what doesn’t? It is in your interest.

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