Found this article in Harvard Business Review and it strikes me, that even though it was written a long time ago, it is still relevant. Many organizations have naturally acted upon and benefited on the One2One marketing concept, using state of the art CRM systems and are at full swing with Marketing Automation programs building tailored tracks for their customers. Surprisingly many are not.
At a dinner the other night I got this confirmed. At a big and established company within the Energy sector they are still doing the same pitch and using the same slide deck, telling the same story to every customer and prospect they meet, I was told. Any decent salesperson or marketeer can vouch that just changing the slide deck and story slightly and adjust it to the customer or prospects interest, challenges, industry, maturity, or needs would have a huge impact in building the relation and getting your message across.
As HBR describes, there are four key steps for putting a one-to-one marketing program to work:
- Identifying your customers
- Differentiating among them
- Interacting with them
- Customizing your product or service to fit each individual customer’s needs
The benefits of One2One marketing can be tracked to your business bottom line as you can expect your up-selling and cross selling to increase, higher level of customer satisfaction, increased customer loyalty and lower churn.
Link to the full article: https://hbr.org/1999/01/is-your-company-ready-for-one-to-one-marketing
