You Need to Understand Everyday Lives of Your Clients, Banker!
“Customer dis-intermediation is one of the biggest challenges that a retail bank must contend with when it comes to retaining its central standing as the number one go-to provider of financial services.” – Bragi Fjalldal, CMO & VP, Meniga 1)Banking Technology: “The race to meaningfully engage with customers is on“ We are living fascinating times in the world of financial services industry and institutions. As the late, great business professor C. K. Prahalad and his collaborator Venkat Ramaswamy pointed out in their magnificent book The Future of Competition: Co-Creating Unique Value With Customers (2004), the role of the consumer is rapidly changing, and consequently the traditional mindset of company-centric value creation (and goods-dominant logic) is disintegrating before our very eyes. Prahalad and Ramaswamy argue that we are now witnessing the emergence of “the informed, networked, and active consumer, combined with the convergence of technologies and industries. Driven by these two forces, the consumer is increasingly…
Social selling is not about the tools – It’s about the mindset
Social selling is becoming a bit paseé as it seems that instead of transforming contemporary sales altogether, the primary focus has been unfortunately put on the different tools, techniques, and methods available. There are, of course, those people who are still trying to convince people that social selling is not really about tweeting or writing blog posts. It’s much more holistic than single interventions here and there. Social selling, as it should be correctly perceived, is all about human interactions, and social media is one of the spheres where a skilled salesperson should be actively present. It’s quite obvious that today social media plays an ever-increasingly important role in almost every kind of interaction between people and different organizations but the most important thing, people interacting with other people, is somewhat missing from the discussion. Almost everyone knows how important social media is today, and the importance of social media is…