Putting customers at the heart of everything you do is vital in order to be successful in your business. It requires what is known as the “customer obsession” where retailers use insights and engagement from customer relationships to create a virtuous cycle. In order to do this, marketers need features and functions in their technology solutions in order to add value with the path to purchase.
The solutions retailers create must add value at the individual level in order to see the outcomes like higher customer lifetime value and revenue growth. Retailers who fail to connect the functionality to positive customer and business outcomes run the risk of making false assumptions about their customer’s preferences and fall behind in the customer obsession.
In the latest MCM CommerceChat podcast, Ross Kramer, CEO of email marketing automation company Listrak, talks about the customer obsession based off of research Listrak conducted with Forrester Research in late 2018.