How to Disrupt Your Industry
Wednesday April 13, 2016
Having recently attended a CRM discussion event I was involved in an interesting conversation around ‘Disruptive Innovators’ such as Uber and Airbnb and how they have changed their individual marketplace. It got me thinking – how are we disruptive in the technology industry?
What Is Disruptive Innovation?
Smartphones, Mobile Internet, Automation and Social Media; all examples of advancements in technology that have been seen as ‘disruptive’ in the marketplace. Disruptive innovation is known as new innovation that changes the marketplace and overturns the traditional business methods. It is an idea or approach that changes the status quo and rewrites the rules in a given environment.
Why Be Disruptive?
In a crowded technology industry, the need to stand out is paramount to success. Therefore, being innovative and creative in your approach is essential to not drowning in an overly competitive marketplace (and no one enjoys drowning…especially in business!) – highlighting the importance to be disruptive.
We challenge you to disrupt your way of thinking….
How to Be Disruptive with CRM
Green 4 are proud to be seen as ‘disruptive’ and feel that bringing innovative ideas to technology is the way to progress in the market. Therefore, I want to take a look at 3 ways in which we are seen as ‘disruptive innovators’.
1. Single Platform Solution
It is technically possible to integrate disparate systems. The last ten years of CRM evolution (particularly in consumer facing industries) has seen this become commonplace. However, in many instances, results have been unsatisfactory with conflicting agendas from vendors and a disproportionate cost being spent by customers on the integration of different technology. Particularly in the leisure and attractions’ market, where a business could operate 4-5 isolated systems. This has made it near impossible to achieve the joined up vision.
Green 4 has addressed this issue by building a single platform solution. Having a customer centric, joined up approach to business systems provides efficiencies both for your customers and your organisation. The insight that this provides is invaluable, and when marketing teams have this data and easy to use marketing tools at their fingertips, the customer engagement strategy is limitless.
2. Customer Centric Approach
Through the introduction of tightly integrated, customer focused solutions, Green 4 believes it can both enhance the customer experience and loyalty and achieve operational efficiencies. By ensuring that every customer touch point is integrated to the CRM engine we can place the customer at the heart of the organisation and build up a complete view of their behaviour. Placing the customer centrally allows us to understand them and speak to them on a personal level.
3. Data Driven Customer Engagement
With CRM being central to the technology, it is no surprise that customer data is key to creating lasting relationships with customers. Rather than just providing the operational systems for a business to function, there is a focus on collecting and utilising customer data and providing a continuous journey for the customer to embark on. For example, it isn’t enough to just provide the opportunity for a football supporter to buy a ticket, the customer’s journey when buying this ticket is now paramount to creating lasting relationships and encourage repeat visits and spend.
To meet its business objectives of sustainable and profitable growth, Green 4 client, The Original Bowling Company (TOBC) anchored its strategy to the fact that there are much lower costs for retaining customers than there are for acquiring new ones. To increase the average number of visits per year, repeat visits are encouraged by offering 33% discounts to customers immediately booking again; discounts of 25% and 10% are offered at further intervals after the initial visit if a re-booking is not made. The ability to harvest and understand the data TOBC get from their operational systems allows them to encourage this repeat spend.
Disruptive innovation is a good thing. We may not be changing the world but having a different approach to CRM and customer engagement is important to enhancing your organisation.
For information on how Green 4 can help you disrupt your industry, please contact us at firstname.lastname@example.org or +44 8455 088 149.