Why Relationships Matter Most: Marketing in The “Third Era”

Thursday September 22,2016

Mo Firouzabadian Senior Vice President

We’re in a unique era of marketing right now ­­a relationship era. Gone are the days when price, quality and convenience reigned supreme. Now, loyal consumers and brand advocates ­­ arguably the most critical audience for any company in any vertical ­­ are seeking meaningful relevance from the businesses they frequent. Customers expect these brands to recognize them the moment they arrive, be it in­store, online or through a mobile app. And, even more so, these consumers expect relevant recommendations, touchpoints and moments in time to be served up from that first touch on.

And they expect it all to happen instantly.

The most recent Bond Brand Loyalty survey spoke directly to this notion. Their research found that, to create immersive omnichannel journeys, brands across all industries are tearing down the siloes that once separated various marketing disciplines. Bond specifically cited three key factions ­­ loyalty solutions, CRM and customer experiences. Individually these areas are powerful. Together, though, they have the ability to deepen brand/customer experiences in a big way. By recognizing customers (CRM), acknowledging customers (loyalty) and, ultimately, creating these spot­on touch points for customers (customer experience), marketers can best engage their base and drive meaningful relevance at scale.

We’re seeing this every day in telco marketing. This, we believe, is the third era in our collective evolution. During the first era, operators focused on acquiring subscribers. Then came the second era where all eyes were fixed on long­term customer retention. But today it’s different. Today we’re peering over the edge and into the third era and, now, need to approach our customers as individuals, delivering relevant, personalized experiences in a millisecond. If we don’t ­­ if we can’t be be relevance-­first for each and every consumer they’ll move on to another experience that can meet their expectations.

As marketers are beginning to see, delivering personalized experiences like these is no long a nice­to­have but, instead, a customer mandate. Ignore this shift and you’ll inevitably fall short, at least in consumers’ minds. This is the new mandate ­­ build relevance at scale to build your business, telco or otherwise. And to do this, businesses are pulling a number of strings, including bringing in heavy-­hitting Chief Digital Officers (CDOs) indicating this is, without a doubt, a top­-down shift that has full support at the C­level.  

We know because, at Lumata, we’re on the front lines of this seismic shift. Every day we’re working to seamlessly connect the dots between CRM, loyalty and customer experience, ensuring we meet consumers’ ever-increasing expectations while still staying firmly in the bounds of our clients’ needs and budgets. We’re helping brands deliver personalized experiences at scale and we’re generate both acquisition and retention as a result.

The end goal here? Create and deliver cohesive, consistent and compelling customer experiences, that catapult our brand and our partners ahead. And as we enter this third era, all of these levers and immersive and entirely spot­on experiences become more important than ever.

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