TECH TALK: BILL MAGEE says marketers should focus on nurturing existing customer relationships in more personalised and agile ways
Three-out-of-five SMEs are slashing their marketing budgets, according to new research. Set to suffer is social media, often hyped as the digital route towards getting closer to the customer. Many organisations, irrespective of their size and this includes governments, have in recent years lost their way in terms of achieving customer excellence.
It must now be all about fast tracking digital strategies. Technological solutions, other than the likes of the troubled Twitter, are urgently needed to bring companies closer to their client base
Those who get their “A game” back in difficult times will prosper the greatest. If not survive current economic uncertainties.
A survey by unified customer platform Klaviyo’s reveals that 67% of UK SMEs say their main priority is acquiring new customers in 2023.
This is all well and good. But the research points out the cost of bringing a new customer on board can be up to five times more expensive than retaining one.
A “disconnect” is highlighted between a firm’s budget cuts and ambitious plans. It is evident marketers should focus on nurturing existing relationships and building connections with their customers in more personalised and agile ways.
Social media is part of that marketing mix but the research brings some surprises. It found 32% of respondents say LinkedIn will feature in their strategy, and 15% plan to focus more on Facebook. However, a mere 6% plan to prioritise Twitter.
The survey says this reflects the turmoil that the platform is going through since being taken over by tech tycoon Elon Musk. Another surprise is only 5% reveal they will look to TikTok.
A more tactical approach is evident. One in which relevant web and mobile-based digital products and processes will more likely protect data within an organisation and its client base.
Add to this the need for customer-facing teams to upskill to feel more connected which, in turn, enhances the client approach.
At the heart of everything is the cyber-health of valuable data belonging to both the organisation and customer base. Here it’s best to ensure the business has a cloud solution, such as Microsoft Teams to re-define or evolve the digital workplace along with continuing to adjust to the “new normal” of large-scale home working.
Moving data to the cloud and with it integration services connects a company’s legacy systems that in turn reduces costs and improves performance.
Whatever industry is involved an organisation must ensure it remains operational, sustainable and relevant. Bring in outside expert help when needed.
Also, beware becoming constrained by legacy platforms and enterprise architecture technologies that were not designed for today’s digital age. Instead move data to the cloud at pace.
Here Data Integration as a Service (DIaaS) promises connectivity to legacy/back-end systems, sources, files and operational applications by implementing well-defined interfaces and web services.
DIaaS creates a more loosely coupled environment, one safe from complex interdependencies and enables integration across a multi-cloud environment, including third parties.
In what is going to be a testy 12 months ahead, such a future-proofing data exercise ensures the delivery of reduced operating costs. And with it a superior customer experience.