MOVING BEYOND TRADITIONAL MARKETING
To paraphrase David Ogilvy, the legendary ad man, “The customer is not an idiot. She’s your wife! You have to live with her in relative joy and content for a very long time … or it will become very, very expensive.”
Long-term, mutually satisfying relationships constitute the first principle of customer engagement, expanding Peter Drucker’s dictum: “A firm has no other purpose than to find and keep customers.”
The figure below depicts several implications of customer engagement.
Most notably, many senior marketing executives have long forgotten or never understood marketing-making relationships. Other marketing executives understand the primacy of marketing-making relationships; however, they lack the systems, processes, and accountabilities by which to engage innovation collaborators and early adopters.
In both cases, these soon-to-be-retired marketing executives obsess with finding ready buyers and persuading these buyers to become consumers, abdicating or ignoring the subsequent transformation phases of engagement.
Mastering the customer engagement cycle demands full engagement with the transformational process of creating wholly vested stakeholders in effective collaboration.
Full engagement then entails a parallel transformation of the organization into a trusted partner, an institutional citizen, and a true engagement innovator.
The mastery of customer engagement will not only transform buyers into collaborators, but the transformational
process will also demand that sellers enter into a long-term relationship with evolving customer needs.
Engagement constitutes a two-way process and varies little from the process of maintaining a successful personal relationship with a thriving spouse.
THE SECRET OF MARKET MAKING
Silicon Valley holds many secrets, none more vital to customer engagement than the secret of creating stupendous new wealth.
What follows constitutes a succinct summary of the secret of Silicon Valley as related by Jeff Martin, visionary and founder of Tribal Brands:
Huge new markets produce fortunes and shareholder wealth.
Great companies create huge new markets.
Breakthrough, game-changing products drive great companies.
Brilliant engineering produces insanely great, breakthrough, and game-changing products.
Incisive, cogent product requirements inspire brilliant engineering.
Inspired insights about customers of a new, not-yet-formed market define incisive, cogent product requirements.
Unbending intent to improve the quality of life and serve a higher common good induces inspired insights aboutfuture customers.
Ultimately, the customer engagement revolution brings the secret of Silicon Valley to every innovator in the world.
CUSTOMERS ENGAGEMENT DRIVES THE INNOVATION OF NEW PRODUCTS AND SERVICES
Customer engagement constitutes an innovation strategy, calling attention to the primacy of collaboration with loyal customers and stakeholders in the enterprise. Successful engagement speeds the development of buyers and consumers
into loyal customers and stakeholders—individuals and groups that can play a pivotal role in the development of new business models, products, processes, and social networks.