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Customer Lifetime Value and the Future of CX with Don Peppers
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In this episode, Richard Owen sits down with Don Peppers, a global authority on marketing and business competition, to delve into the intricacies of customer behavior, customer-centric companies, and the evolving landscape of customer experience (CX). Don, renowned in the world of CRM for co-authoring the landmark book "The One to One Future," shares his invaluable insights on the challenges and opportunities facing CX professionals today. Here are some of the main points they discussed:
- The challenge of communicating the importance of customer behavior to business leaders lies in the measurement of future customer value and the shift from short-term thinking to long-term value creation. In that context, Don and Richard discuss the financial concept of customer lifetime value and how CX and sales leaders should align with their CFO on how to measure it. , the shift from tangible to intangible assets, and the need for businesses to align with customer expectations.
- The impact of both the shift from tangible to intangible assets (“moving from atoms to bits”), and of technology on product customization and customer satisfaction is driving businesses to focus on individual customer interactions, leading to a shift in marketing and sales processes.
- The need for businesses to align with customer expectations and create lifetime customers is driving a shift in the way products are marketed and sold, emphasizing the importance of customer delight and long-term value creation. Customer expectations about things like speed of delivery are constantly rising, so some things that used to cause customer delight have become business basics.
Tune in to this episode to gain deep insights into the future of customer experience and learn practical strategies to align your business with long-term customer value. Don't miss out on the opportunity to hear from one of the pioneers of the CRM revolution, Don Peppers.
Find out how predictive CX analytics can help your business: https://ocxcognition.com/
Follow us on LinkedIn: https://www.linkedin.com/company/ocxcognition/
Connect with Richard Owen on LinkedIn: linkedin.com/in/richard-owen-98ba3
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