What after Solutions Marketing: if an enterprise has mastered solutions marketing, what does it do next?
Whats after Solutions Marketing? If a company has mastered the concepts, methods and capabilities ofsolutions marketing, what should they do to take their company to the next level?Brief backgroundGlobal corporate are bracing for the deluge of data that they will have to deal with, over the next fewmonths, years and decades.There is incessant chatter over the internet, over the airwaves, in print and in corridors of corporatepower that BIG DATA is here! A global eco-system of interconnected devices, that are becoming“smarter” and talkative (SIRI!) by the day, with the innate ability to communicate with each other, arecreating a vast network where data is being created at every consumer node.The value of this data is determined by the ability of the marketer to discern what specific componentsof that database are useful for him.The specific components of the database that are used to make informed decisions by the marketer todeliver a customized marketing program to a specific consumer , and thus influence his buying decision,will cease to be a part of science fiction- because predictive analytics will be a reality in the coming days.It is these data components that will be most useful to the successful solutions marketer of the not sodistant future- question is, will he be able to sieve this useful data from the heap that is before him?Obviously this task is not meant for the limited computing capacity of the human mind.Enter the age of intelligent predictive analytics enginesSuccessful service and product companies have mastered the art of data collection and collation- somehave taken tentative steps towards developing and deploying solutions marketing initiatives, whileothers have been successful in implementing solutions marketing programs in their organizations and
their business eco-systems. One thing has remained constant in all of this - the final consumer, whoconsumes your product or service, and he continues to reign supreme.After successful implementation of a solutions marketing program, in a product, or a service drivenenterprise, the next frontier would be creating a continued succession of consumer “AHA” moments.This would be the long term sustainable, comparative and competitive advantage to the successfulsolutions marketer.These “AHA” moments would be built on the capability of the marketer to surprise his target consumerwith offers that will be tailor made for him, and produced to his desired specifications, at a price pointwhich he had been contemplating. The marketer will be able to build this capability to predict his targetconsumers “hidden” need (one that he had been thinking of. NOT Talking of), by running predictiveanalytics on a series of data, gathered about his target consumer behavior, from multiple source points(networked devices). The intelligence component of the predictive analytics engine would be based onalgorithms that will be able to generate possible alternatives on a set of customized offers for the targetconsumer, based on “cues” provided by the data generated by the target consumer- these cues could bedescriptive and non-descriptive, and logically connected by the predictive analytics engine to alert themarketer to an impending impulse for potential purchase by the target consumer.The ability of the intelligent predictive analytics engine is best described as akin to the “gut feel instinct”that a seasoned marketer has about a demand for his product- this “gut feel instinct” is built aroundyears of practical application of management theory in the field, and a series of failures and manysuccesses.The synaptic networking of the human mind, mirroring the thinking capacity of the successful solutionsmarketer and translating his instinctive “gut feel” for a good pitch, would be replaced and enhanced bythe parallel processing capability of the predictive analytics engine.
Why the need for of intelligent predictive analytics enginesTechnology diffusion is proving to be very disruptive for product and service providers, who longbelieved that their turf was well protected. Consumers are communicating with each other in real timeabout products, services and solutions on offer and are able to share information on the features andvalue of their respective offers, thus creating peer evaluated benchmarks.Therefore no solution on offer will be safe from cheap copycats and intellectual property marauderswho will be able to pick on an original idea and quickly turn that into a commodity.Relationships with consumers/clients will be fickle and prone to constant attack from these copycats.The smart solution marketer will be one who can keep one step ahead of his competitor and creating asustainable comparative and competitive strategic advantage- and this edge will be his by investing in aproprietary analytics tool that will enable him to custom design offers for his target consumers, beforethe consumer comes to him seeking that offer.The ability to deliver a customized offer to your client, effectively preempting him, will be that crucialdifference between success and failure for the solutions marketer of the future.