It is one of the utmost ironies of the Internet that the computer,laptop,pc, so long mocked as individual, is now being employed to craft highly personal experiences for Web site visitors. Because a computer,laptop,pc can sift through huge amounts of data according to pre-programmed rules, computer,laptop,pcs can now take company data (or special interest data) and join it with data supplied by future customers and take in it in a way that is meaningful to each individual.
What are the best ways for businesses to individualize selling and customize in order to create business. Although quite a few of these methods are still in their infancy, a great deal can be learned as to current strategies and technologies and techniques and strategies can be implemented.
To attract new customers, companies can now create Web sites that offer highly individualized references based on information supplied by the customer. In this way, it's possible to tell a potential customer precisely which product, among a excess of possibilities, is just perfectright for that individual or that business. The strategic idea behind these efforts is clear: By empowering the customer with information about how a specific offering meets his or her needs, the company positions itself as a knowledgeable place to buy and also demonstrates how its products are just right for that individual customer.
This information, properly exploited, gives an accessible supplier or retailer a clear leg up on the competition: The Company is able to use its data to create itself as the supplier of choice and to suggest services to accessible customers before they request them. Companies can maintain effectively private Web sites for individual clients so that they can both supply uncommon service and recommend new products that will be of value to these customers.
In the past, this type of specialized communication was virtually impossible: Retailers and suppliers lacked the detailed information necessary to offer these commendations and the ability to cost-effectively communicate it to individual customers.
On the other hand, today we have progressed into an age where technology allows firms to to the individual needs of customers in a way that have not been possible before. The value of these initiatives, both in tightening the bonds with accessible customers and in draw ining new customers, is high. Another business tool made possible by the Internet is something that previously was available only to the wealthy: product customization, done quickly and inexpensively.
How are companies making use of several levels of ?individual" commendations ?
In adopting any strategy based on specialization, privacy is a central issue. The ability to make the customer feel comfortable enough to give you the information you need to craftdevelop|construct}}}} a tailored product or solution is among the primary challenges companies must overcome.
1) The Web's ability to help companies start marketing intimacy is possible because a Web site joins five elements:
2) An opportunity to present information in an interactive format, permitting customers to express their preferences to the owner of the Web site
3) Virtually costless online communications between the potential buyer and seller
4) A visual component that lets potential buyers see future|potential,future}}}} purchases and how they would appear if individualized The ability to store tremendous amounts of special data about their customers
5) An unprecedented ability to generatecreate|construct}}}} systems that configure products so that costly errors are eliminated, thus reducing the cost of creating custom products and services
Currently, one-to-one selling can be seen in two general categories, recommending and customization.
Brick-and-mortar companies have long known that for the most part, either a motivated buyer has done alot of research on a particular product, or a product has been highly recommended by a friend or business associate. This knowledge leads to two keys to establishing a Web site that motivates buying:
Ample data (so that the buyer needn't do any more research?and, in the process, possibly depart your Web site for another)
A positive reference.In the past effective commendations were generally person to person, there are several reasons why these technology-based references are valued now. One has to do with the dizzying array of choices that now faces consumers. A cosmetics firm may offer hundreds of shades of lipstick or eye shadow; financial services companies have become true supermarkets filled with choices; well-known cold remedies now have multiple versions that end with words such as ?plus" and ?sinus" and ?cough."
In the last generation, the dilemma posed by the array of choices was generally solved through one-on-one interaction (selling, if you will). Someone with a cold would have stopped by his or her local pharmacy and chatted with the pharmacist about which of the three or four cold remedies carried by the pharmacy would be best.
Depending on your product and customer, several types of reference|recommending}}}} functions will work best. Let us take a moment to contemplate how to evaluate effectiveness..
personalization, like any business idea, should be exploited judiciously. There are real costs that accompany developing individualized applications: They extend from the real cost of development dollars to the cost of disappointing customers or prospects who wanted a better experience. It's important to gauge whether a specialization effort will be effective and add to new sales or customer retention before investing the time and money in bringing it to market.
The criteria for set uping an effective reference system are different for every product. The system chosen is dependent upon a balance of the following: (1) the nature of the product, (2) the amount of data needed from the potential buyer to make an effective approval, and (3) the likely willingness of the potential|potential,future}}}} buyer to share this needed data with you.
Will buyers trust the data they get from companies on the Web as much as (or more than) they trust sales representatives? All evidence to date intimates the answer is yes. People believe that no trusted brand will risk its good name by posting misleading data on the Web.
As you go about creating an online approval system, your primary goal should be to make the online shopping experience superior to what a customer might encounter in the physical world. Therefore, you need to ask yourself: ?What can my company accomplish using this medium that can't be accomplished in the physical world?"
Payment issues online seem to have been taken care of by the credit card companies as a routine matter now.
What about issues of privacy? Consider gathering data anonymously. approval systems that supply advice to consumers anonymously are likely to be far more popular and, therefore, more effective. In these cases, you are able to present the future with value without needing to jump the hurdle of ?you can trust me with this information."
If you have a preference to record the identities of site visitors, you are ahead of the pack if you are a familiar brand. Consumers are already given to believe in your company name. In this case, address the privacy issue head-on with a statement that precedes your online registration form: ?The data gathered here is to help us better serve you; we will not share or sell this information to anyone."
Lastly, if you plan to share customer information with others, then you need to be explicit about it and receive the customer's permission. The worst thing you can do is fail to inform the customer that some piece of data you determine about him or her may be employed in some way the customer does not expect.
Product customization is viable because of a convergence of two elements: the Web as a one-to-one communications technology and manufacturing processes that allow for the development and delivery of custom products and services.
Designing your own custom desktop computer,laptop,pc at Web sites such as Dell has become ?commonplace," but what about designing your own swimsuit or, perhaps, golf clubs? These customized services supply several valuable benefits for companies: (1) They help to drive new business, and (2) customers are willing to pay a premium price for an individually designed product, which means these products and services and services sometimes have higher profit margins than standard offerings.
The ability to interact with customers and say, ?I can generatebuild up|construct}}}} the product that is just right for you," is one of the most powerful features of the Web. Expansion of this Internet capability will be the inevitable result of the combination of (1) manufacturers creating products that permit increasing customization, (2) further advances in computing power at ever decreasing costs, and (3) new software that is continuously enhancing the options available to businesses to specialize.
Smart companies realize that the more involved the relationship becomes with the customer, the better their rate of retention. They are implementing this strategy in a wide variety of creative ways, involving both individualization and customization, and will certainly enhance their applications significantly over time:
1). Companies are creating amazing convenience for customers and starting systems to speed the fulfillment of custom orders.
2). E-mail communications and reminder systems autoresponders, email marketing systems) are going to beemployed increasingly.
The end goal of every business is to have a customer who wants to hear from the business about new products and services that he or she might want to buy. E-mail, for the first time, offers this type of powerful tool, since it's an almost costless communications vehicle.
3). In business-to-business selling, intelligent companies are also linking tightly to their customers.
Leading-edge technology companies are offering custom password-protected Web sites for their corporate accounts and high-volume small business accounts. These sites are typically designed to simplify the buying process, and they offer
(1) customer online malls offering products pre-selected by the company to be bought by employees at volume discount prices,
(2) electronic mail links to account managers responsible for taking care of that customer,
(3) adding the ability to track the status of orders, and
(4) striking increases in the speed of order fulfillment through the lack of paper forms and a reduction in errors.
This is a clear cut way of providing customers with additional value and of tying the customer more closely to your company. Most companies will also see an increase in revenues from these accounts.
What was needed, of course, was a new category of employee: ?The e-mail respondent"; yet no one wanted to hire staff at additional expense to a project that was in its infancy. Enter ?response software." Otherwise known as an autoresponder.
Several intelligent software systems, are able to routinely handle and route questions, so there is no excuse for underserving your customers with the first and most basic customer service?answering their questions.
Companies who successfully manage their e-mail via electronic means are also taking the occasion to benefit from the Knowledge they glean. Companies are finally transforming their Web sites from marketing brochures to marketing vehicles that turn visits into sales leads and actual sales. Those who develop a Web presence and fail to respond to electronic inquiries in a timely manner run the risk of alienating obtainable and new customers.
Industry research shows that a mere 30 percent of Fortune 500 companies respond to questions directed to these companies through their Web sites, which means a large number of customers aren't getting the special attention winning companies need to present.
As you consider the possibilities offered by specialization and customization, I suggest that these initiatives be weighed against these criteria: Will the initiative enhance relationships with my customers by adding convenience or a better ability to meet their needs? Will the initiative result in potentially high cost-savings for my organization. Will intelligent product configuration eliminate and reduce costly order errors and help to target vital marketing efforts directed at the customer base entity?
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