Welcome to the Age of the Continuous Customer
Gone are the days where your customer buys something, you deliver an invoice, the customer pays, and the transaction is complete. Now your customers are always “on” – always interacting, now expecting on-demand consumption, continuous replenishment, and subscriptions to your products and services. They are interacting with every facet of your business—quote, contract, fulfillment, provisioning, billing, and payment processing—with increasing velocity. They are buying the customer experience across the entire business, not just the product or service of interest. We refer to this phenomenon as the Continuous Customer, and your business must be designed and operated differently to address this new reality.
What has previously worked to drive business forward now is a hindrance. Businesses have spent years—often decades—organizing people, process, and systems. They did this to optimize for the unit-based economy using a transactional sequence of marketing, sales, operations, and finance. However, these robust internal ecosystems need to adapt. Traditional approaches to order management, billing, sales, and service delivery no longer work. The old habits of organizing around the need of the business must be replaced with new habits of organizing around the appetites, needs, and expectations of the Continuous Customer.
Common Continuous Customer Challenges
We’ve uncovered twelve major symptoms of a broken recurring revenue business—one that cannot scale and will eventually erode profitability because it’s not designed to support this concept of the Continuous Customer. Because of the far-reaching and cross-departmental complexity of these symptoms, it’s not always clear what the root causes are, where they reside, and who should be tasked to address the problem. Clients can often articulate one or more of these symptoms, and on further analysis, realize that all twelve apply.
We help our clients understand the most current trends and common pitfalls with Continuous Customer businesses. But we don’t stop there. We dig in and review current and future-looking business strategies, customers, products, operating processes, and technologies. We walk clients through a six-point health check of their customer value cycle which creates a shared view of failure points, issues, and improvement opportunities that stand in the way of achieving the organization’s goals for the Continuous Customer and their recurring revenue business models.
Do you need help with your recurring revenue business and moving to a Continuous Customer model? Navint can help.
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