Ok I think I’ve finally tweeked these theses enough. Thanks to those who emailed me their comments. The final version is now available here: http://snurl.com/20jvq - -
A couple of my colleagues have questioned thesis 5 and think that the word ’deterministic’ is a bit obscure and old fashioned. What we’re getting at here is that in much of the current commentary around economic downturns there is a tendency to assume that because times might be hard then customers will act in a particular way i.e. cut back on spending. But we need to be much more subtle in the way we understand cause and effect.
During recessions there are a number of industries that have done quite well for themselves. The entertainment business is usually one of them. I’m assured that women’s make-up sales also increase during recessions.
Anyway because this thesis has been misinterpreted I’m thinking of changing it to:
Economic problems are not deterministic
Research and test before you assume that customers will spend less online
I’m a little worried that thesis 2 sounds a bit defensive. i.e. concentrate on your existing customers rather than try and go out and acquire new ones. A good customer engagement strategy should really be about both acquisition and retention.
So I was thinking of changing this thesis to:
Developing customer engagement is a retention and acquisition strategy.
Customers have both practical and emotional needs, both have to be met to achieve engagement
6 Theses - Digital Customer Engagement and the Troubled Economy - Presentation Transcript
Six theses on digital customer engagement in a troubled economy
Martyn Perks & Richard Sedley
Cutting back during a downturn is a survival solution not a winning solution.
Start by asking not what your customer can do for you, but what you can do for your customer
1. Six theses on digital customer engagement in a troubled economy
A retained, loyal and engaged customer is more valuable than a new one.
Customers have both practical and emotional needs both have to be met to achieve engagement
2. Six theses on digital customer engagement in a troubled economy
Digital media provide the best means for achieving customer engagement during a downturn.
Dialogue not monologue is the true language of online business
3. Six theses on digital customer engagement in a troubled economy
Customer engagement is the best predictor of future business.
Customer engagement is a relationship built on mutual benefit
4. Six theses on digital customer engagement in a troubled economy
Economic problems are not deterministic.
Research and test before you talk to customers in the language of a downturn
5. Six theses on digital customer engagement in a troubled economy
An economic downturn will create winners and losers.
The winners will be those businesses that best use digital media and best engage their customers
6. Six theses on digital customer engagement in a troubled economy
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