June 6, 2011
Today Forrester released a piece of must-read research for every organization that markets and sells to customers. In Josh Bernoff's report "Competitive Strategy In The Age Of The Customer," he illustrates how customer-led disruption forces firms to throw away old models of competitive differentiation. Competitive barriers like manufacturing strength, distribution power, and information mastery won't save anyone. The report concludes that the only sustainable competitive advantage is knowledge of and engagement with customers. In the age of the customer, firms must become customer obsessed.
eBusiness and channel strategy professionals are no strangers to customer-led disruption. Many firms' web strategies are just now finally catching up to the sneak attack of Amazon.com and E-Trade, if they survived at all. What happened in the early '90s will continue to happen again and again. In a companion document that I also released today, I argue that to survive, eBusiness and channel strategy professionals must embrace the principles of agile commerce — optimizing people, processes, and technology to serve customers across all touchpoints. Specifically, eBusiness and channel strategy professionals must shift from:
- Customer acquisition to retention.
- Siloed channels to touchpoints.
- Reactive to actionable use of customer data.
I encourage you and everyone in your organzation to read this critical document about surviving and thriving in the age of the customer.