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Posted by Laura Ramos on March 10, 2014
In 2010, we entered a new 20-year business cycle where successful companies will be those that better understand and serve increasingly powerful customers. But what happens when government authorities with very specific rules about how companies communicate with customers regulate these interactions?
Wealth management, insurance, and pharmaceuticals come to mind as example industries where marketers and relationship managers feel this oversight most acutely. How do you thrive in the age of the customer when how you interact — and the data you maintain — is controlled by law?
These are questions that I plan to explore next week with marketing and client experience executives from the financial services industry at "The Forward Thinker" sponsored by EarthIntegrate. Thinking through the issues around how to be more customer-obsessed in an industry where every communication could be monitored or audited, I believe that the main challenge is not to stray outside the regulatory guidelines while meeting growing client expectations for responsive, online, anytime, anywhere engagement — all while maintaining the intimacy that high-net-worth investors, for example, expect of their advisor relationships or that insurance members expect of brokers.
One thing is clear: Buyer behavior has changed, and to better serve these more empowered consumers, marketing leaders need to invest in four key initiatives we'll explore further next week:
In the coming months, I'd like to explore further how business-to-business (B2B) marketing is transforming into business-to-buyer marketing and how a stronger emphasis on the ultimate consumer is now more important to regulated, and unregulated, industries where businesses sell to other businesses that serve the customer. I hope you will join me and share your perspectives on what it takes to make B2B2C (or B2B2smallB) marketing thrive.
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