What you will learn
Explain key differences between product-centric and customer-centric views.
Evaluate relationship strategies for customer-centric acquisition, retention, and relationship development approaches.
Discuss how customer-based metrics complement financial indicators of the firm.
Embrace relationship marketing as an important source of sustainable competitive advantage for companies, with increasing relevance in today’s world.
Description
The competitive landscape and the volatile economies that mark the modern world mean there is no way around the need to manage customers profitably in the long term. As a result, it is a more pressing issue than ever before. Data are easily available, so much that firms are overwhelmed, and the amount doubles every 18 months. New trends, such as the rise of social media and apps, then arrive to create new relationship marketing challenges for companies.
This course introduces a customer-centric management approach and shows how the evolution of relationship marketing points to a new understanding. We will further discuss how relationship marketing and customer centricity principles shape the relational processes between customers and firms, from customer acquisition and onboarding to customer retention and development.
In this complete course, you will develop skills to successfully manage customer relationships and boost impact on your business’s bottom line.
Learning outcomes further include:
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Embrace relationship marketing as an important source of sustainable competitive advantage for companies, with increasing relevance in today’s world;
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Explain key differences between product-centric and customer-centric views;
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Evaluate relationship strategies for customer-centric acquisition, retention, and relationship development approaches;
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Discuss how customer-based metrics complement financial indicators of the firm;
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Apply customer centricity through real-life case examples.
By recognizing the fundamental and inevitable differences among customers, relationship marketing can give firms a strategic advantage over your product-centric competitors— who may know little to nothing about the customers who account for their success and survival. Moreover, in today’s data-rich environments, firms can gather and leverage even more information about their customers, which will enable them to serve those customers in a more personalized (yet genuine) manner than any competitor can. Customer centricity, as a major characteristic of relationship marketing, is about targeting the right customers in the right way to generate the right results.
Content