Senteo Methodology

The Senteo Methodology was designed to help companies design, build, measure, and manage profitable customer relationships.

Introduction

Businesses tend to follow a fairly standard evolution of priorities related to how they interact with their customers, and each stage in this evolution has a fairly specific set of characteristics. 

Often, clients state that their main task is to sell more products to customers or to acquire more new customers.  While their efforts to create more reasons for customers to buy may generate an effect in the immediate future, most customers are still heavily price senstitive when making purchases, which may create disparity between the money earned from newly acquired customers and the cost of acquiring them. At this point, clients often expand their priorities to include new performance measures. 

Usually, a significant amount of money is spent on acquiring new customers, but the retention of those customers is not optimal, which generates a new priority of increasing retention, usually through increasing the quality of service. At the same time, most companies will now begin to focus on optimizing the cost of servicing those customers through improving operational efficiency.  These efforts will work to gradually reduce the quality and efficiency issues that might make customers consider defecting to a competitor.  However, most customers are still significantly sensitive to the price at this point.

Once organizations have acheived an acceptable level of performance in customer acquisition and retention, they often expand their focus and begin to relate to their customers in a new way.  Using customer intelligence and regular contact with customers to better understand needs, wants, desires, and dreams, organizations can now work to help customers fulfill their desired outcomes in a number of areas.  In this sense, the organization moves beyond the good or service that they offer in an effort to better understand how the customer will use that good or service to generate a specific outcome.   Harvard professor Theodore Levitt boldly stated, "People don't want a quarter inch drill; they want a quarter inch hole."  This almost perfectly encompasses the idea that many goods and services are not the desired item, but, rather, a means to an end. 

Moving into this third level of priorities brings a relationship focus to organizations that understand that the better they understand and relate to individual customers, the more likely those customers are to consolidate their relationship with that organization.  As well, if customers feel that an organization understands and reacts to their needs and aspirations, they're less sensitive to completitive offers, less sensitive to price, and more likely to recommend that organization to others around them.

The Senteo Methodology is a framework used to help organizations to design, build, measure, and manage their business to generate profitable, mutually beneficial relationships with their customers.  While our clients may be in various evolutionary stages, our methodology is designed to help companies understand and extract value from the relationships they share with their customers.

 

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