Dec 23, 2021: Customer Relationship
What value do you want to provide to customers when you think about customer relationships ?
When you are thinking about your customer relationship, you should also think about your value proposition, your key activities and also your cost structure.
Types of customer relationships are :
1. Transactional: Where there is no real relationship between the company and the customer. The company interacts with the customer on a transactional basis.
2. Long-term: A long-term relationship is established between the company and the customer. The company interacts with customers regularly.
3. Personal assistance: It’s based on human interaction. This may happen onsite at the point of sale, through calls, e-mail, or through other means.
4. Self-service: In this type of relationship, a company maintains no direct relationship with customers. It provides all the necessary means for customers to help themselves.
5. Automated services: Automated services can recognize individual customers and their characteristics, and offer information related to orders or transactions.
6. Communities: Many companies maintain online communities that allow users to exchange knowledge and solve each other’s problems. Communities can also help companies better understand their customers.
7. Co-creation: More companies are going beyond the traditional customer-vendor relationship to co-create value with customers.
8. Switching costs: Switching costs indicate how easy or how difficult it is for a customer to switch to a different alternative.
9. Dedicated personal assistants: This relationship involves dedicating a customer representative specifically to an individual client.
When we talk about key activities as the building block and to make our business model work, we must know about 3 types of key activities :
1. Production : It could be manufacturing something or even building home. If you are in a manufacturing business then production would be a key part of it.
2. Problem solving : It’s a particular type of business activity that you gonna think about depending on what type of business you are into.
3. Platform/Network : This includes communities where network could be built. The key Activities in this category relate to platform management, service provisioning, and platform promotion.