Customer Journey: Know Your Prospect

by Administrator 25. March 2013 00:50

Customer Journey: A Rational Paradigm


The common business practices, however logical, are prone to be ineffective and sometimes absurd if they are not in line with the current market needs. If yours is a B2C organization, this becomes all the more reasonable and applicable. Arriving at what the market needs and demands, paves the way for strategizing the deliverable models of requisite functions. Deploying traditional market research methods will help in making logical predictions on the needs of the entire market conclusively, but will deliver mediocre results unless the methods deployed are innovative enough.  However, the business issues in reality are quite complicated and demanding. It is not just the segmentation but the basis of segmentation that matters. This will take you back to how your market research is done and what the inputs were. This encircling, although needed sometimes is not a productive modern day technique. The modern business demands organizations to be more flexible and robust in their approach towards customers. The current day demand is not just the best product but the best Suitable product.


KYP-KYC-Brand Advocacy


Customer Engagement is a key practice for bringing resonant inputs from the customers, that help the organizations gather first hand information on customer insights. The important factor however, is the time of engagement. It is observed that service has become an add-on for product and in some cases personalization of services has become the differentiating factor more than the product itself. The interesting part is, the customer engagement will give the best pay offs when the customer is made an integral part right at the prospect stage. And hence the practice Know-you-customer has to start way before in the customer engagement and now shift to Know-your-prospect. This continuous engagement with the customers will help the organizations develop traction with the customers and understand their behavioral aspects at various touch points in the customer journey.


It is observed that the behavior of the customer is influenced by various factors at each stage of the customer journey. It is this behavior the organizations need to target. Guiding the customer at each digital point with relevant information and influencing him to graduate to the next level in the Customer Journey should be the prime focus of the organization. This close interaction with each customer will help the organizations segment their customers into right analytic group which will ensure improved pay offs. Journeying with the customers will give a greater scope of completing it successfully eventually leading them to Brand Advocacy and renewal. This will also help the organizations know more about the flaws in their strategies as the customer may choose to opt for another brand or product from any stage during their journey. 


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