Despite
the $11 billion spent on CRM software annually, many consumer companies don’t
understand customer relationships at all. They aren’t aware of the variety of
relationship types and don’t understand what kind their customers want. Through
research in a wide variety of consumer industries, the authors have identified
29 types of relationships. For example, some customers want to be best friends
with a brand; others are looking for a passionate fling; still others find
themselves as ex-friends and would welcome a closer bond. To understand the
current portfolio of relationships, companies must pick up on signals from
multiple sources. Companies can then build a strategic mix of connections by
bolstering desired relationships and shifting customers to more-valuable types.
There are many issues to consider: For example, some relationship types are
more profitable than others. No actions will bear fruit unless a relationship
orientation pervades not just the marketing function but every aspect of the
company that touches customers or affects interactions with them. Customers
don’t just represent the next upsell or cross-sell opportunity; they are
individuals looking for a certain kind of interaction. Companies need to
respond accordingly. [ABSTRACT FROM AUTHOR]