We live in a world where instantaneous communication forms part of our daily lives.
Digital disruption means that with a tap on their smartphone or a click on a mouse, individuals can interact with organisations anywhere in the world. Businesses can leverage this age of ubiquitous communication to form meaningful connections with their customers and suppliers. However, each interaction needs to be individually managed as personalisation is vital to building a lasting relationship.
In a complex digital world that is rapidly changing, relationships are increasingly becoming the cornerstone of successful enterprises. This is because organisations need to make individual connections with diverse stakeholder groups including customers, prospects, suppliers, members, employees, and other stakeholders.
How are business leaders responding to this digital disruption?
According to Deloitte, business leaders are transforming their organisations in order to respond to digital disruption and ensure success now and into the future. The primary business functions affected by this disruption include:
- Operations (54%),
- Customer Service (46%), and
- Marketing (41%).
Across each of these business functions is a common strategic intent: the successful management of relationships and gaining productivity efficiencies.
What is relationship management?
Relationship management is a strategy for managing and maintaining ongoing levels of engagement and partnerships with customers.
Effective relationship management gives organisations the ability to strengthen collaboration across their teams and key stakeholder groups.
When implemented effectively, it is a business process-driven solution that enables enterprises to create and drive holistic, innovative, and value-driven interactions with their customers, suppliers, legislative authorities, and any other parties that interact with the organisation regularly.
But how can meaningful stakeholder relationships be managed and leveraged across diverse groups in today’s competitive world? And how can relationship management solutions be scaled alongside growing businesses into the future?
Want to discover how Relationship Management can transform your business into the future?
You can transform your business by taking a strategic approach to how you manage your stakeholder relationships.
In our whitepaper ‘Relationship Management and the Future of Business’, you’ll discover more details on:
- What relationship management is and the business imperative it represents
- The key drivers to transform business operations, marketing and customer service
- Common challenges organisations face when managing relationships
- The benefits organisations can leverage from a centralised, cloud-based relationship management solution; and
- What Next Generation Relationship Management can mean for organisations ready to transform into the future.
Discover more by downloading our whitepaper ‘Relationship Management and the Future of Business’ today!