It is a steady climb for the vast majority of enterprises to achieve and sustain market relevance today. Satisfying customers and keeping them in productive relationships are now at the heart of every measure of corporate value.
The trek is steep because customers have more than buying power; they have influence over other customers, many of whom they do not even know. Sometimes these customers do not communicate with one another – they may be simple “likes” on a social network that shares product and service information. The sources of product information include customer reviews that are rich with information not just about the quality but about the use of products.
Then there is the reputation of the company. With the effort to please customers shifting from things like pricing and packaging to a social and socially responsible experience, all it takes is negative information from other customers and influencers to derail what used to be a sure purchase.
The effort to stay relevant through targeted marketing to customers and influencers is the promontory of the enterprise. Everything behind and around this point is now measured by its sturdiness as well.
As more and more direct business effort must be expended toward relationships with customers, as companies feel comfortable with the reach of technology and their need to manage more amounts of highly specific data, and as more companies struggle to satisfy the career and lifestyle priorities of workers, they have warmed to the idea of outsourcing mission-critical functions.
For market leaders who are obsessed with building more company value, outsourcing has actually become a key business strategy.