There is a direct correlation between sales growth and profitability, as well as the viability of a company.
The business model to achieve this is the strategic triangle, the 3Cs or the interaction between the company, customers and competitors.
The key and fundamental component of this “triad” is the customer. Today, customers are a great engine for revenue growth and prosperity. Customers are unique, reliable and have high added value to a growing business. It has replaced “alpha” salesmen and women in order of critical importance.
To date, these hidden treasures have become important audiences and magical touchpoints for productivity and profitability. On top of that, it also helps reduce expenses as a veritable vehicle for profitability and growth.
ROR or maximizing return on relationship has become an integral part of ROI, return on investment. Customer support now empowers customers to source prospects for companies, accelerate product/service adoption, harness and leverage the power of social media, and bring creativity and innovation to product development.
Let’s take a closer look at how customers and businesses can work together to achieve goals that companies cannot accomplish alone. It builds a solid and “rich” community of customers.
According to Bill Lee, a Harvard Business Review publication titled “The Hidden Wealth of the Customer”: We can unlock the value of customer relationships by building champions, influencers, and contributors into customer communities and nurturing them.
Did you know that customer communities effectively facilitate brand building, create marketing traction, generate leads and improve marketing development strategies? It has become the most innovative and fundamental relationship building in business.
It is impossible for social media to forge people into cohesive beneficial associations where the meaningful work of generating and promoting sales sponsorships can be done.
Bill Lee describes these customer communities as “an inclusive meritocracy formed around a shared set of values.”
They embrace member empowerment over hierarchy, education in values above tradition, and wholeheartedly welcome diversity as a source of creativity. These communities constitute the most natural way for associations to develop, and the “safe” and efficient way to combine basic social building blocks.
In addition, the Yale School of Management recently published The Internet, by Nicholas A. Christakis and James H. Fowler. This is an advanced study on building a highly rewarding consumer community. Individuals constrained by geography, socioeconomic status, and technology are “built” together through the “math and science of networking,” according to the authors. This can be exploited critically to make a positive contribution to business and life in the same way that engineers study networks of power stations, neuroscientists study networks of neurons, and geneticists study networks of genes.
Since these grand connections are made up of thinking beings who make decisions, the collective, like a computer or even a brain, has a unique life of its own. Collectives, known as human superorganisms or interconnected social networks, can thus function with a greater detachment than individuals.
In other words, all the things that make us unique human beings can be managed as a whole to affect emotions, sexuality, health, politics, monetary evolution, and technology. We can create, sustain and strengthen collective purpose through this superorganism. Individuals in the collective exhibit the following characteristics; they are pulling together, they have sufficient power, they act in a trusting manner, and they have a commitment to each other. As such, they form touchpoints or points of engagement on website social pages, lead magnets, email sequences, customer support groups, blog posts, point of sale, positioning packages and affiliate groups.
These superorganisms grow, change, reproduce and survive. Value flows from them. They touch and impact lives, transcend individual endeavors, and have incredible local and global impact. They are an extremely rich and cohesive goldmine of data and information for brand strategy or strategic steps in evolving customer journeys and brand experiences.
You can take active candidates from them, grow the list continuously and regularly, build trust, belief in the product/service and opportunity, and purposefully broaden your horizons. You can make very useful connections with them, and of course, by getting out of your inner circle, you can create incredible awareness for your business. Due to their enormous value, they have become an asset and an extraordinary strategic priority for clients.
Consumer-centric marketing must use them to continuously select and segment target markets in a homogeneous environment. This group of interconnected individuals easily provides opportunities to acquire, retain and grow clients.
One thing this pool of strategic “connections” can easily provide is the opportunity to maneuver. We now have a rich pool in which to navigate very efficiently with consumers and achieve productivity and profitability traction in the shortest time possible.
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