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In 1950, Popular Mechanics magazine printed an article, “Miracles You’ll See in the Next Fifty Years.” In it, predictions were made about the year 2000.
When projecting how consumers would shop in the future, the magazine envisioned housewives browsing merchandise in department stores on their TV screens—a fairly accurate guess. Today, most retailers would be hard-pressed to predict the next five years, let alone the next five decades. That is why they need to become “customer-infused.” Find out more in the following article from Accenture Interactive.
Developments in technology are accelerating exponentially. With each new application, customer behavior changes too, making it nearly impossible to set long-term, and in some instances, even short-term strategies. Virtually every aspect of the purchase process has changed—from product research to purchasing and through to customer service.
Not only are customers changing, so are competitors—there are more of them, and they are exceptionally nimble in their ability to respond to potential buyers in this new, hyper-frenetic, integrated environment. Predictability is gone. Flexibility is everything.
To get it, organizations should become “customer-infused” or centered on key personas and relevant “micro-segments,” adjusting to the ever-changing needs and behaviors of the buying public. Companies will do well to increase marketing granularity to address customers at the “moment of truth” when the decision to buy is made.
Traditional retail models, based on functional areas working in siloed fashion, are no longer relevant for the digital age. They are inherently rigid instead of flexible; primed for old school “push” marketing that’s eschewed by today’s consumer who demands relevance and “what’s in it for me.” The key is to obtain the characteristics of a customer-infused organization.
Here is a look at how key aspects of business will likely change in the near future for customer-infused retailers:
January 12, 2011
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