crm - Blog - Global Risk Community2024-03-28T17:50:11Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/crm4 Key Functions of Account-based Marketing (ABM) Solutionshttps://globalriskcommunity.com/profiles/blogs/4-key-functions-of-account-based-marketing-abm-solutions2022-07-07T16:07:41.000Z2022-07-07T16:07:41.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}10628573858,original{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}10628573858,RESIZE_710x{{/staticFileLink}}" alt="10628573858?profile=RESIZE_710x" width="710" /></a><a href="https://flevy.com/browse/flevypro/account-based-marketing-abm-solutions-6274">ABMs</a> aid in the implementation of the ABM methodology. By utilizing the <a href="https://flevy.com/business-toolkit/abm">ABM approach</a>, we can automate and streamline the time-consuming process of identifying target accounts and reduce the effort, time, and cost required to court these prospective clients.</p><p>ABM systems facilitate the generation of most qualified leads, creation of customized purchasing journeys, enhancement of <a href="https://flevy.com/browse/flevypro/marketing-automation-customer-lifetime-value-3008">lifetime value of customers</a>, and ensuring a robust pipeline of promising accounts. These solutions can be integrated with other Sales and Marketing systems, such as CRM and <a href="https://flevy.com/browse/flevypro/marketing-automation-customer-lifetime-value-3008">Marketing Automation platforms</a>, to better target and prioritize communications with key accounts.</p><p>ABM solutions refine <a href="https://flevy.com/business-toolkit/marketing">Marketing</a> and Sales departments beyond conventional <a href="https://flevy.com/browse/flevypro/strategic-branding-1708">Branding</a> and lead generation strategies. These systems aid in identifying the correct target accounts prior to executing a personalized <a href="https://flevy.com/browse/marketplace/marketing-strategy-sustainable-service-model-1875">Marketing Strategy</a>. ABM solutions are used to acquire new customers, cultivate current and future prospects, and grow enterprise accounts.</p><p>ABM solutions have the following 4 main functions:</p><ol><li><strong>Account Management</strong></li><li><strong>Account Intelligence</strong></li><li><strong>Account-based Advertising</strong></li><li><strong>Digital Personalization</strong></li></ol><p> <a href="{{#staticFileLink}}10628573094,RESIZE_1200x{{/staticFileLink}}"><img class="align-full" src="{{#staticFileLink}}10628573094,RESIZE_710x{{/staticFileLink}}" alt="10628573094?profile=RESIZE_710x" width="710" /></a></p><p>Let us delve further into these fundamental functions.</p><p><strong>Account Management</strong></p><p>ABM solutions' most essential function is robust <a href="https://flevy.com/browse/marketplace/key-account-management-101--best-practices-2787">management of key accounts</a>. ABM Strategy requires strong collaboration between Marketing and Sales, the identification of prospective accounts and their compatibility with our offerings, and immediate feedback on the outcome of negotiations with the account to close the deal. ABM systems record this data, optimize its distribution between various units, and create <a href="https://flevy.com/browse/marketplace/marketing-and-sales-funnel-powerpoint-templates-70">Marketing or Sales funnels or pipelines</a>.</p><p>The ABM software integrates with automation systems for Sales and Marketing and stores customer data in databases. This is achieved by creating a record for the account in the <a href="https://flevy.com/browse/flevypro/crm-and-the-customer-experience-1710">CRM system</a>. ABM offers stringent administrative control over the origin of account information, its updates, duplicate entries, and the absence of data. Account Management Solution allows for the creation of target lists, the termination of unsuitable accounts, purchase decisions, engagement and conversion data storage, and the evaluation of clicks.</p><p><strong>Account Intelligence </strong></p><p>ABM solutions' subsequent essential function is to evaluate account-relevant data in order to qualify leads. ABM has replaced the traditional "large funnel" with a narrower Marketing funnel based on data and a more targeted evaluation of accounts before they become leads. Account Intelligence solutions enable the qualification of leads through the analysis of important and relevant qualifying data, connect marketers with prospective accounts, and enable the maintenance of a more accurate target account list.</p><p>These solutions prioritize sales intelligence information (such as a target account's contact information and organizational structure) and account intelligence information (sector, geography, IT setup, capital spending history, IP addresses, and customer intent data). Typically, Account Intelligence systems are flooded with obsolete or irrelevant information. Advanced Account Intelligence systems circumvent this issue with automatically updated account data feeds. To differentiate purchasing signals from market noise Account Intelligence system manufacturers have developed lead qualification systems to track ideal accounts. They accomplish this by employing distinct company and buying signal criteria, benchmark-based algorithms, and <a href="https://flevy.com/browse/flevypro/artificial-intelligence-ai-machine-learning-ml-3336">Machine Learning</a> to identify prospects with high close rates or high engagement.</p><p>Interested in learning more about the categories of Strategic Priorities and how to communicate them across the organization? You can download <strong><u><a href="https://flevy.com/browse/flevypro/account-based-marketing-abm-solutions-6274">an editable PowerPoint on the Strategic Priorities Identification & Analysis here</a></u></strong> on the <a href="https://flevy.com/browse">Flevy documents</a> marketplace.</p><p><strong>Do You Find Value in This Framework?</strong></p><p>You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</p><p>“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</p><p>– Bill Branson, Founder at Strategic Business Architects</p><p>“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</p><p>– David Coloma, Consulting Area Manager at Cynertia Consulting</p><p>“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight — it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</p><p>– Roderick Cameron, Founding Partner at SGFE Ltd</p><p> </p><p> </p></div>BRM: Business Reference Model of the Federal Enterprise Architecture Framework (FEAF)https://globalriskcommunity.com/profiles/blogs/brm-business-reference-model-of-the-federal-enterprise-architectu2021-07-09T01:39:44.000Z2021-07-09T01:39:44.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><span style="font-size:12pt;"><a href="{{#staticFileLink}}9223435882,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}9223435882,RESIZE_400x{{/staticFileLink}}" alt="9223435882?profile=RESIZE_400x" width="343" height="230" /></a>Business and technology resources are aligned using <a href="https://flevy.com/business-toolkit/enterprise-architecture">Enterprise Architecture (EA)</a> in order to achieve strategic results, make organizational performance better, achieve <a href="https://flevy.com/business-toolkit/cost-optimization">Cost Optimization</a>, and guide departments to fulfill their central missions more efficaciously through Operational Excellence.</span></p><p><span style="font-size:12pt;">Federal Enterprise Architecture Framework (FEAF) does that for any U.S. federal agency and helps systems transcend interagency boundaries. FEAF offers a shared approach for the consolidation of strategic, business, and technology management as a component of Organization Design and Performance Management. The Enterprise Architecture methodology introduced under FEAF transcended several interagency boundaries.</span></p><p><span style="font-size:12pt;">The FEAF comprises of 6 interconnected Reference Models, linked through Consolidated Reference Model (CRM), each relating to a sub-architectural domain of the framework.</span></p><p><span style="font-size:12pt;">These Reference Models convey word-based abstractions of original architectural data and deliver a structure for relating significant elements of the FEA in a collective and uniform manner:</span></p><ol><li><span style="font-size:12pt;"><strong>Strategy Domain -> Performance Reference Model (PRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Business Domain -> Business Reference Model (BRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Data Domain -> Data Reference Model (DRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Applications Domain -> Application Reference Model (ARM)</strong></span></li><li><span style="font-size:12pt;"><strong>Infrastructure Domain -> Infrastructure Reference Model (IRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Security Domain -> Security Reference Model (SRM)</strong></span></li></ol><p><span style="font-size:12pt;">Discussed here is 1 of the 6 reference models of the Federal Enterprise Architecture Framework—the Business Reference Model (BRM), its structure, framework, touchpoints with other reference models, and BRM Taxonomy.</span></p><p><span style="font-size:12pt;"><a href="https://flevy.com/browse/flevypro/feaf-business-reference-model-brm-5719" target="_blank"><img class="align-full" src="https://flevy.com/blog/wp-content/uploads/2021/07/Slide-Deck-image-FEAF-BRM.png?profile=RESIZE_710x" alt="Slide-Deck-image-FEAF-BRM.png?profile=RESIZE_710x" width="692" /></a></span></p><p><span style="font-size:12pt;">BRM is employed to explain the type of business functions at the system, segment, agency, sector, Federal, national, or international levels rather than giving an organizational vantage point.</span></p><p><span style="font-size:12pt;">Cross-government cooperation between the Executive departments and subsidiary agencies—as well as external partners—is promoted by describing the Federal government in this manner enabling:</span></p><ul><li><span style="font-size:12pt;">Uncovering of possibilities for cost reduction.</span></li><li><span style="font-size:12pt;">Collaboration.</span></li><li><span style="font-size:12pt;">Shared services.</span></li><li><span style="font-size:12pt;">Solution reuse in agency IT portfolios and collaboration between and within agency.</span></li></ul><p><span style="font-size:12pt;">BRM elucidates the “what we do” of the organization via the delineation of outcome-oriented and measurable functions and services.</span></p><p><span style="font-size:12pt;">BRM’s real usefulness and worth is gained when it is put to use effectively in business analysis, design, and decision support that aids in improving the working of an agency, bureau, or program.</span></p><p><span style="font-size:12pt;">BRM classification is organized as a 3-layer order, embodying Executive Branch Mission Sectors, Business Functions, and Services.</span></p><ul><li><span style="font-size:12pt;"><strong>Mission Sector</strong> – Pinpoints 10 business functions of the Federal government in the Common Approach to Enterprise Architecture.</span></li><li><span style="font-size:12pt;"><strong>Business Function</strong> – Defines the Federal government functioning at high level, by means of budget function classification codes.</span></li><li><span style="font-size:12pt;"><strong>Service</strong> – Elaborates further what the Federal government does at a subsidiary or section level.</span></li></ul><p><span style="font-size:12pt;">Mission Sector is exclusive to the executive branch of the Federal government. This layer should be used appropriately for other organizations.</span></p><p><span style="font-size:12pt;">The 3 layers allow arrangement and analysis of IT investments and applications for an assortment of purposes.</span></p><p><span style="font-size:12pt;">All reference models are envisioned to work jointly. BRM’s further mappings to other reference models contribute added context for the investment or activity. Input for BRM is through Performance Reference Model (PRM) enabling BRM to feed other reference models.</span></p><p><span style="font-size:12pt;">BRM is intended to deliver agencies with a uniform means to classify their capital investments, detect areas for collaboration and reuse, centered on delivery of business capability.</span></p><p><span style="font-size:12pt;">BRM also aids in refining the general IT architecture to further improve mission outcomes. It extends decision-support abilities to stakeholders and various levels of staff, within and outside an agency, and across the Federal government. From a Federal viewpoint, BRM permits discovery of prospects for joint effort and reuse of shared services, government-wide. This collaboration takes 2 forms:</span></p><ol><li><span style="font-size:12pt;">Inter-agency</span></li><li><span style="font-size:12pt;">Intra-agency</span></li></ol><p><span style="font-size:12pt;">BRM is usable in combination with several architecture, development, or analysis methods to deliver all-inclusive standardized design, development, and governance abilities. There are 3 primary types of BRM methods:</span></p><ul><li><span style="font-size:12pt;">Business Architecture for Decision Support</span></li><li><span style="font-size:12pt;">Business Process Modeling</span></li><li><span style="font-size:12pt;">Business Process Modeling Notation (BPMN)<strong> </strong></span></li></ul><p><span style="font-size:12pt;">Interested in learning more about the <a href="https://flevy.com/browse/flevypro/feaf-business-reference-model-brm-5719">FEAF Business Reference Model</a>? You can download <a href="https://flevy.com/browse/flevypro/feaf-business-reference-model-brm-5719">an editable PowerPoint on <strong>FEAF: Business Reference Model</strong> here </a>and FEAF associated series PowerPoint presentations on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</span></p><h3><span style="font-size:12pt;"><strong>Do You Find Value in This Framework?</strong></span></h3><p><span style="font-size:12pt;">You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</span></p><blockquote><p><span style="font-size:12pt;">“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</span></p><p><span style="font-size:12pt;">– Bill Branson, Founder at Strategic Business Architects</span></p></blockquote><blockquote><p><span style="font-size:12pt;">“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</span></p><p><span style="font-size:12pt;">– David Coloma, Consulting Area Manager at Cynertia Consulting</span></p></blockquote><blockquote><p><span style="font-size:12pt;">“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</span></p><p><span style="font-size:12pt;">– Roderick Cameron, Founding Partner at SGFE Ltd</span></p></blockquote></div>Enterprise Architectures -- Federal Enterprise Architecture Framework (FEAF)https://globalriskcommunity.com/profiles/blogs/enterprise-architectures-federal-enterprise-architecture-framewor2021-07-06T15:14:17.000Z2021-07-06T15:14:17.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><span style="font-size:12pt;"><a href="{{#staticFileLink}}9209039874,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}9209039874,RESIZE_400x{{/staticFileLink}}" alt="9209039874?profile=RESIZE_400x" width="330" height="220" /></a><a href="https://flevy.com/business-toolkit/enterprise-architecture">Enterprise Architecture (EA)</a> denotes management best practices for lining up business and technology resources to realize strategic results, expand upon Organizational Performance, achieve <a href="https://flevy.com/business-toolkit/cost-optimization">Cost Optimization</a>, and steer departments to achieve their core missions through Operational Excellence.</span></p><p><span style="font-size:12pt;">Federal Enterprise Architecture Framework (FEAF) was first introduced in September 1999 by the Federal CIO Council for evolving an EA within any U.S. federal agency. FEAF assists through documentation and information that conveys a summarized outlook of an enterprise at various tiers of scope and detail.</span></p><p><span style="font-size:12pt;">FEAF offers a shared approach for the consolidation of strategic, business, and technology management as a component of Organization Design and Performance Management. FEAF introduced a methodology for an Enterprise Architecture that transcended several interagency boundaries.</span></p><p><span style="font-size:12pt;"><a href="https://flevy.com/browse/flevypro/federal-enterprise-architecture-framework-feaf-primer-5702"><img class="aligncenter size-full wp-image-9343" src="https://flevy.com/blog/wp-content/uploads/2021/07/slide-deck-image-FEAF-Primer.png" alt="" width="723" height="543" /></a></span></p><p><span style="font-size:12pt;">The Collaborative Planning Methodology suggested along with FEAF is envisioned as a complete planning and implementation lifecycle, for employment down all tiers of scope defined in the Common Approach to Federal Enterprise Architecture—i.e., International, National, Federal, Sector, Agency, Segment, System, and Application.</span></p><p><span style="font-size:12pt;">May 2012 saw a full new guide, called the “Common Approach to Federal Enterprise Architecture.” The guide offers an overall approach to establishing and employing Enterprise Architecture in the Federal Government for expanding joint approaches to IT service delivery. The Common Approach homogenizes the expansion and employment of architectures within and between Federal Agencies.</span></p><p><span style="font-size:12pt;">A 2nd version of FEAF was published in January 2013, meeting the criteria set forth by the Common Approach. It underscores the importance of Strategic Planning and Strategic Goals as the source for driving business services, which consequentially provides the requirements for enabling technologies. At the heart of it is the Consolidated Reference Model (CRM), which links 6 reference models and equips all departments with a shared language and framework to explain and evaluate investments.</span></p><p><span style="font-size:12pt;">The FEAF comprises of 6 interconnected Reference Models, linked through Consolidated Reference Model (CRM), each relating to a sub-architectural domain of the framework.</span></p><p><span style="font-size:12pt;">These Reference Models convey word-based abstractions of original architectural data and deliver a structure for relating significant elements of the FEA in a collective and uniform manner:</span></p><ol><li><span style="font-size:12pt;"><strong>Strategy Domain -> Performance Reference Model (PRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Business Domain -> Business Reference Model (BRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Data Domain -> Data Reference Model (DRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Applications Domain -> Application Reference Model (ARM)</strong></span></li><li><span style="font-size:12pt;"><strong>Infrastructure Domain -> Infrastructure Reference Model (IRM)</strong></span></li><li><span style="font-size:12pt;"><strong>Security Domain -> Security Reference Model (SRM)</strong></span></li></ol><p><span style="font-size:12pt;">CRM is intended to permit inter-agency evaluation and detection of overlapping investments, disparities and prospects for cooperation within and across agencies.</span></p><p><span style="font-size:12pt;">By means of the collection of reference models a common nomenclature and system is cultivated for describing IT resources. Making use of this standard framework and terminology, IT portfolios can be managed more suitably and taken advantage of throughout the Federal Government.</span></p><p><span style="font-size:12pt;">A brief description of the reference models is as follows:</span></p><h3><span style="font-size:12pt;"><strong>Performance Reference Model (PRM)</strong></span></h3><p><span style="font-size:12pt;">PRM relates agency strategy, internal business factors, and investments, presenting a way to measure the influence of those investments on strategic outcomes.</span></p><h3><span style="font-size:12pt;"><strong>Business Reference Model (BRM)</strong></span></h3><p><span style="font-size:12pt;">BRM depicts an organization through arrangement of common mission and support service segments rather than through vertical lines of control, thus encouraging cooperation within and across agencies.</span></p><h3><span style="font-size:12pt;"><strong>Data Reference Model (DRM)</strong></span></h3><p><span style="font-size:12pt;">DRM assists in detection of existing data assets located in solitary storages and aids in comprehending the meaning of that data, ways of accessing it, and means for leveraging it for supporting performance outcomes.</span></p><h3><span style="font-size:12pt;"><strong>Application Reference Model (ARM)</strong></span></h3><p><span style="font-size:12pt;">ARM classifies the standards and technologies involving systems and applications that support the delivery of service capabilities, allowing agencies to share and reuse common solutions and benefit from economies of scale.</span></p><h3><span style="font-size:12pt;"><strong>The Infrastructure Reference Model (IRM)</strong></span></h3><p><span style="font-size:12pt;">IRM sorts the standards and technologies relating to network/cloud to aid and facilitate the provision of voice, data, video, and mobile service components and facilities.</span></p><h3><span style="font-size:12pt;"><strong>The Security Reference Model (SRM)</strong></span></h3><p><span style="font-size:12pt;">SRM offers a mutual language and approach for deliberating on security and privacy in connection with Federal agencies’ business and performance goals.</span></p><p><span style="font-size:12pt;">Interested in learning more about Federal Enterprise Architecture Framework (FEAF) and its reference models?” “You can download <a href="https://flevy.com/browse/flevypro/federal-enterprise-architecture-framework-feaf-primer-5702">an editable PowerPoint on Federal Enterprise Architecture Framework (FEAF) Primer here </a>and FEAF associated PowerPoint series presentations on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</span></p><h3><span style="font-size:12pt;"><strong>Do You Find Value in This Framework?</strong></span></h3><p><span style="font-size:12pt;">You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</span></p><blockquote><p><span style="font-size:12pt;">“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”</span></p><p><span style="font-size:12pt;">– Bill Branson, Founder at Strategic Business Architects</span></p></blockquote><blockquote><p><span style="font-size:12pt;">“As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”</span></p><p><span style="font-size:12pt;">– David Coloma, Consulting Area Manager at Cynertia Consulting</span></p></blockquote><blockquote><p><span style="font-size:12pt;">“FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight – it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”</span></p><p><span style="font-size:12pt;">– Roderick Cameron, Founding Partner at SGFE Ltd</span></p></blockquote></div>4 Connected Customer Strategies to Create Delightful Customer Experienceshttps://globalriskcommunity.com/profiles/blogs/4-connected-customer-strategies-to-create-delightful-customer2019-12-24T16:27:49.000Z2019-12-24T16:27:49.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><p><a href="{{#staticFileLink}}8028305456,original{{/staticFileLink}}" target="_blank"><img class="align-right" src="{{#staticFileLink}}8028305456,original{{/staticFileLink}}" alt="8028305456?profile=original" width="500" height="450" /></a></p><p>With startups ready to disrupt traditional players, established firms need to form an even stronger bond with their customers instead of waiting for customers to reach out to them.</p><p>The traditional Customer Experience model—referred to as the “acquire what we make” model—is characterized by occasional interaction between the companies and the customers, once a customer ascertains her/his needs and looks for products or services to fulfill them. In this model, companies do all they can to offer quality products or services at a competitive price, while their marketing and operations are based only on brief engagement with the customers. Because of the occasional connection with the customer in this approach, the vendor has little knowledge of the difficulties a customer faces to procure a product or service.</p><p>With each passing day the tactics that organizations use to connect with their customers are undergoing rapid transformation. Technology and customized digital interactions provide companies the means to build deeper relationships with customers. Organizations pursuing <a href="https://flevy.com/browse/stream/customer-centric-design">Customer-centric Design</a>, today, are addressing customers’ needs the moment they occur—or even before that by virtue of “Connected Customer Strategies.”</p><p><a href="https://flevy.com/browse/flevypro/customer-experience-connected-customer-strategy-4003">Connected Customer Strategies</a> call for the companies to maintain customer relationships round the clock (24x7). These strategies demand from the organizations to develop an assortment of new capabilities (e.g., invest in Big data and Analytics), connect with the customers on a regular basis, track their activities, and offer customized experiences and offerings. These strategies are not about using modern technology, rather the methods companies should adopt by using technology in creating delightful experiences and long-standing associations with the customers.</p><p>There are 4 distinct Connected Customer Strategies that are instrumental in developing exceptional Customer Journeys:</p><ol><li><strong>Fast Response</strong></li><li><strong>Personalized Recommendations</strong></li><li><strong>Proactive Recommendations</strong></li><li><strong>Automatic Execution</strong></li></ol><p><a href="https://flevy.com/browse/flevypro/customer-experience-connected-customer-strategy-4003"><img class="aligncenter size-full wp-image-6027" src="http://flevy.com/blog/wp-content/uploads/2019/12/Connected-Customer-Strategy.png" alt="" width="1024" height="768" /></a></p><p>Let's discuss the first 2 strategies in detail now.</p><h3><strong>Fast Response</strong></h3><p><a href="https://flevy.com/browse/stream/leadership">Organizational Leadership</a> needs to carefully consider adopting the most suitable connected customer strategy. The Fast Response strategy, as the name suggests, is about prompt and flawless delivery of required services and products to the customers. To adopt Fast Response strategy, organizations need to ascertain the customer requirements carefully and simplify their purchasing process.</p><p>The core capabilities needed to implement this strategy include prompt delivery, minimal friction, flexibility, and precise execution. This strategy is appropriate for knowledgeable yet authoritative customers who dislike disclosing their personal information. Using this strategy, a prompt response to a customer needing replacement of a product should be a simple yet accurate, couple-of-click online ordering process and the order should be delivered a few hours later. The aim of the Fast Response strategy is to reduce the amount of time and energy the customers spend on procurement as much as possible.</p><h3><strong>Personalized Recommendations</strong></h3><p>Organizations using Personalized Recommendations strategy help customers identify their needs by presenting various options to them. The strategy involves active involvement of firms in assisting their customers by offering a menu of customized offerings—as soon as the customers have finalized their requirement but before their decision on how to fulfill it.</p><p>This strategy is suitable for customers who are willing to share their data with the company and value advice but still hold the final say. With the <a href="https://www.forbes.com/sites/shephyken/2017/10/29/personalized-customer-experience-increases-revenue-and-loyalty/">Personalized Recommendations</a> strategy at work, the journey for a customer needing a product replacement could simply involve the customer’s visiting a company’s website, automatic suggestions to customer about the correct product based on her/his prior shopping history, the customer ordering the suggested product, and receiving the delivery a few hours later.</p><p>Interested in learning more about the other <a href="https://flevy.com/browse/flevypro/customer-experience-connected-customer-strategy-4003">Connected Customer Strategies</a>? You can download <a href="https://flevy.com/browse/flevypro/customer-experience-connected-customer-strategy-4003"><u>an editable PowerPoint on <strong>Customer Experience: Connected Customer Strategies</strong> here</u></a> on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>.</p><h3><strong>Are you a Management Consultant?</strong></h3><p>You can download this and hundreds of other <a href="http://flevy.com/pro/library/frameworks">consulting frameworks</a> and <a href="http://flevy.com/pro/library/consulting">consulting training guides</a> from the <a href="http://flevy.com/pro/library">FlevyPro library</a>.</p></div>marcus evans to Host the 2nd Edition Digital Transformation in Wealth Management Conference on September 24-26, 2018 in San Franciscohttps://globalriskcommunity.com/profiles/blogs/marcus-evans-to-host-the-2nd-edition-digital-transformation-in2018-05-03T15:14:36.000Z2018-05-03T15:14:36.000ZAmanda Pinkhttps://globalriskcommunity.com/members/AmandaPink<div><p><strong>marcus evans</strong> will host the <strong>2<sup>nd</sup> Edition Digital Transformation in Wealth Management Conference on September 24-26, 2018 in San Francisco.</strong> This conference will provide wealth managers with practical tools for developing a consistent and firm-wide digital adoption strategy allowing them to expand their client base and offerings. Industry experts will assess the best practices for leveraging and scaling robo-advice alongside traditional advice and how Artificial Intelligence (AI) and new digital capabilities can enhance financial planning and client onboarding processes.</p><p> </p><p><strong>Learn From Key Practical Case Studies:</strong></p><ul><li><strong>Charles Schwab</strong>will discuss where the wealth management industry is heading</li><li><strong>Invesco</strong> will assess the best practices for promoting a culture shift in wealth management</li><li><strong>BMO Financial Group</strong> will examine methodologies for improving client onboarding</li><li><strong>AgentRisk</strong> will explore where AI is bringing the most value to wealth managers</li><li><strong>CUSO Financial Services</strong> will evaluate practices for leveraging robo advice alongside traditional models</li></ul><p> </p><p><strong>Key Speakers Include:</strong></p><ul><li>Tobin McDaniel, Senior Vice President, Digital Advice, <strong>Charles Schwab</strong></li><li>Donie Lochan, Managing Director, Chief Technology Officer, Global Head of Technology, <strong>Invesco</strong></li><li>John Olerio, Senior Vice President, Director, Investment Services, <strong>Webster Investments</strong></li><li>Jon Vlachogiannis, Founder, <strong>AgentRisk</strong></li><li>Richard Keltner, Senior Vice President, Advisory Services, <strong>CUSO Financial Services </strong></li></ul><p> </p><p>For more information, please visit: <a href="http://bit.ly/2HJFBhf">http://bit.ly/2HJFBhf</a> or you can contact Amanda Pink at apink@global-fmi.com.</p><p> </p><p><strong><em>marcus evans</em></strong> <em>conferences annually produce over 2,000 high quality events designed to provide key strategic business information, best practice and networking opportunities for senior industry decision-makers.</em></p></div>