Engagement in the Age of the Customer
Using to build relationships. The momentum of the past 30 years of Internet and mobile technology development is pro-pelling us into a new era, one where the dynamic between businesses and their customers has flipped. Consumer buying habits and attitudes have changed. People are more discriminating and more likely to brand-hop, more difficult to acquire and keep as customers; offer accep-tance rates are plummeting, while churn rates and customer service costs are escalating.
Price and product have become less important as differ-entiators, and businesses find themselves competing more on the quality and consistency of the experience they can provide. Consumers now hold the power and demand to be met on their own terms, and businesses must learn to meet those needs. Otherwise, they risk being overtaken or having their business models disrupted.