| | OCTOBER 20198CIOReviewIN MYOPINIONTHE FOUNDATIONAL 4 PS FOR CONSUMER-CENTRICITYBy Zachary Fleming, GM, Digital HealthMost executives know that consumer-centricity should be a top priority in this new, digital world. However, when you ask how they plan to reach this nirvana, you will see strategies that range from building an app to creating robust marketing campaigns to implementing a new CRM tool. The reality is these are no longer enough: consumers are demanding more. To compete in this new world, you muststrive radically transforming your company around the consumer. The companies that do this best have built a strong foundation on the 4Ps: Path, Pool, Power, People. Path The first P stands for Path. To connect with your consumer effectively, you need to invest in an ecosystem of pathways to pull and push data. This can be a portal, app, website, survey, event, etc. Even though many companies are heavily investing in apps ($106B spent on apps in 2018) and websites, they should not be the only path you invest in. To be successful in this endeavor, you should leverage three foundational strategies: · Invest in digital first but don't throw out traditional channels. Constantly leverage ROI to drive investment decisions per pathway. Do not be afraid to get creative and find new connections through existing events, contact center, etc. · Pathways should be all about the connection and not just what the company needs. Leverage their preferences across multiple channels to create a personalized, omnichannel experience. · Your path goal shouldn't just be `build an app' or `get # of likes,' it should be an ecosystem that enables both pull & push communication. Where you need both, there are important
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