Each year, information technology costs companies millions to acquire, store, manipulate and analyze data. These massive investments are usually made with the goal of increasing profits through better acquisition and CRM. But many companies haven’t seen the promised returns on their investments. Why? This is usually because they fail adapt their corporate culture, and their management structure, to support these new opportunities.
Why is all this information tech necessary? We know that new customers are more difficult to find when markets become saturated. Companies are increasingly looking to expand the range of products and services that they offer in order to increase their company’s profits. This allows them to increase profits by leveraging their existing customer base via cross-selling or up-selling. Companies are now shifting away from a product-centric silo’ structure and moving to a customercentric 360deg view’ one to accomplish this. To manage a customer-centric from Brandon Long Denver, advanced technology and datamanagement are necessary. This allows each customer to be connected to all data elements and touchpoints.
So how can we ensure these investments bring us returns? This requires us to master and recognize the’softer skills’ that allow for these changes. These skills include communication, flexibility, clarity, cooperation, and effective communication. These skills will help increase profits. These skills can also lead to a multitude of other benefits. Let’s find out why these core competencies are essential to our success.
Most marketers speak a different tongue than information technologists. However, to launch a campaign or analyze the results of campaigns, they must all work together. They can improve their cooperation by learning skills such as “active listening” or “giving and receiving feedback.”
Rapid technological changes and rapid market shifts have made adaptability an essential core competency. Firms with rigid structures often face the greatest difficulties adapting to new business models. The advantage of smaller companies is that they can seek strategic partnerships to allow growth while keeping their focus.
Employees who understand their role and their goals can make more valuable contributions if they have a clear understanding of the company goals. This is the new model to foster rapid growth.
Cooperation is an inherent part of everything that has been discussed. It must be expanded in order to promote a win/win situation. Collaboration between managers is key to providing the best product and service combination for their customers. A cooperative model is not only able to meet the needs of employees; it also optimizes the relationship between us and our communities.
These competencies are essential for a cohesive workplace that is able to adapt and grow in a changing world. These values and skills will be a boon for employees who are empowered by leaders.