Long-term profits in organizations depend on strong and more-enduring customer relationships. A lot of marketing corporations prefer to concentrate on customers, using a more-strategic and specific way that is focused on bringing value to customers and customer segments.
To be more effective, the organization needs to develop the marketing function from focusing on products and transactions into placing more attention on customers and relationships that are coordinate with enterprise goals and strategies. Marketing organizations need to think more about high-value business processes which increase value of customers, add values to brand equity and produce stronger and more significant return on investment (ROI). Below will be presented the list of 10 important marketing processes that the marketing function of 21st-century-leading enterprises will have to adept: 1. Marketing operations management: The complicatedness of marketing operations has been increased, because of increasing the competitiveness, product and channel conception, expand the market, and dissolution of media and interactive channels. Due to this facts, the marketing functions must aim for increasing the degrees of process standardization and automation to drive greater efficiency and productivity, as well as better alignment of resources and activities with corporate objectives.
Better levels of efficiency and productivity are necessary for marketers because they can find more time and effort to higher-value marketing processes.2. Marketing visibility, accountability and value measurement: One of the main problems in a corporation is the increase in amount and difficulties of marketing achievements and free visibility of marketing activities across the entire enterprise and all its distribution channels in different universal sources.
Although some special tactical elements (such as straight marketing or e-marketing activities) have amended in the expression of measurability, marketing efforts stay mostly tracked at a tactical level, using a variety of spreadsheets and uncoordinated tactical applications.3. Customer and market insight generation: Besides the traditional competitive analysis, market research and customer surveys, the company need to be able to find and use huge amounts of information about customers and markets. For doing this in a better way the company needs a methodical approach to data capture and quality management, analytics skills and the ability to transform data into meaningful insights. 4. Customer-value-based segmentation: The practice of segmentation is very popular in our time, but a lot of companies using it in product-centric, focusing more on demographic characteristics which coordinate products to market segments.
Most of the companies focus on customer behaviours and attributes because they relate to: • the deep relationship between a customer and the enterprise;• the associated lifetime value potential.This manoeuvre must go out of focusing on the customer’s value to the company and become truly customer-centric. The main key to segmentation is understanding if, when and how a customer can get value, and whether the enterprise can effectively orchestrate its resources to provide that value and achieve the desired return.
5. Resource allocation: Companies have to be able to use their own resources effectively to acquire, develop and retain customers. To reach this, company need to understand, develop and manage capabilities and resources, relative to value-based customer segments.
The main goal of this actions is optimal resource allocation, relative to the potential value that will be provided to each customer segment as well company needs to analyses the expected risks and returns that will be associated with doing this. Despite that marketing will be responsible for overall customer segment case and capacity-based allocation, the associated resources go well beyond marketing and include such things as sales, service, production, and channels. As such, it is important for business processes to be highly cross-functional, and hold effective knowledge and information management.6. Product development and introduction: The most important change on market is variation from product-driven markets to customer-focused segments, this happens because corporations want to improve core value proposition of new offerings and they must become increasingly fine-tuned around customers’ evolving needs and preferences. Doing so also requires more-flexible and dynamic approaches to pricing, bundling, packaging, and migration between offerings.
After a period of time clients and consumers become more critical and product life cycles decreasing, there is a need for innovative product offerings, that means that the time-to-market for new product introductions becomes more critical.7. Customer-needs-based on identification: Changes in products makes customer requests less-predictable, strategic leverage shifts to processes that enable enterprises to sense unanticipated changes earlier, so they can make proper and timely responses.
These capabilities, with a good and right customer-value-based segmentation, which are foundational elements for processes that support just-in-time marketing interactions, and become increasingly necessary to establish more-meaningful and valuable customer relationships.8. Orchestrated customization: The marketing function often depends on supply-chain partners such as advertising, research and promotion agencies in support of marketing efforts. Such partners, along with internal functions, must be better coordinated to serve evolving customer needs, preferences and behaviours. The company needs to turn on the processes that further will attract more new customers, develop and deliver integrated marketing efforts. Recognition and use of business rules, metrics and workflows will increase the supporting automated processes that intent to efficiently deliver the benefits of one-to-one relationship marketing.9.
Sharing personal information:This problem could appear when it comes to sharing key customer information and derived customer insight. Companies claim that without scanning personal information about customers, it is practically impossible to truly understand individual customer value, channel usage or contact preferences. Actions that allow companies to understand, map and execute multichannel dialogues with customers, will become more critical.
The main goal of this is to leverage predictive models of customer behavior — along with models and business rules that represent the market environment and enterprise objectives — to dynamically orchestrate and monitor ongoing communications and interactions with individual customers across multiple and distributed channels.10. Customer-value-based network management: Companies need to analyze their competitors. For this, it has to understand the comparative advantages, the complementary roles, and capabilities that partners bring together — relative to the needs, preferences and behaviors of each client or customer segment. To achieve this goal marketers, have to begin to develop and implement processes that facilitate the coordination and management of resources across an extended enterprise or value network. The marketing processes have to be dynamic, due to support various workflows and business logic that may change, it depends on the customers and partners involved. These processes also must be sufficiently standardized to be manageable, and to provide broad and dependable visibility of the demand network performance.
The main goal of all companies is to satisfy their customers. However, all people are different and it is hard to find an individual approach to each of them. Thus, the company needs to analyze their customers, market, segments, and products. If the company will analyze this 10 processes and will try to make a full analysis of its own market and customers that will help them to find their mistakes and build the new strategy for solving some problems.
