Читать книгу Digital Disciplines - Wiersema Fred - Страница 11

Firms know that social media should be a part of their strategy. Today's successful businesses are exploiting social media to engage with millions or hundreds of millions of customers, enhancing personal relationships with those customers 140 characters at a time. But collective intimacy is much more than that; at its heart it is about developing intimate, value-added relationships with every customer. Collective intimacy goes beyond mass personalization to develop a unique relationship with each engaged customer, based on insights derived from all customers using big data algorithms.

Only a few industry leaders are effectively integrating all the elements of a collective intimacy strategy – exploiting social media and communities together with customer relationship management, collection of data including not just stated preferences but also actual customer behavior, characteristics, and contexts, and using advanced algorithms to build virtually unassailable customer relationships that drive value for customers and the firm. Amazon.com is drowning its competitors, using a flood of information based on millions of customers and billions of purchases to recommend products using sophisticated algorithms. Better recommendations mean higher revenues through upsell/cross-sell, faster growth in customers, thanks to word of mouth and social selling, and higher profitability through reduced customer churn. The Mayo Clinic uses a voluminous repository of genomic, microbiomic, and epigenetic data across tens of thousands of patients to better prescribe personalized therapies for each patient. Chapter 13 will examine how Netflix uses advanced algorithms to pursue collective intimacy and thus provide better movie recommendations, increase customer satisfaction and loyalty, and maximize customer lifetime value.