The Value of Customer Relationships

It’s been about a month since the annual Marketo Conference, which took place in Las Vegas this year.  I had the opportunity to attend and Gigya sponsored the event. This was Marketo’s largest event to date with over 5,000 people in attendance from companies of all shapes and sizes.

While I learned plenty at the event, my biggest take away came afterward. A few weeks after the conference, Marketo announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners to the tune of $1.79 Billion.

This acquisition is a clear indicator of the value that businesses today place on customer relationships, and the tools that enable those relationships.

Even Salesforce believes there is value in technology that enables better customer journeys, recently announcing plans to acquire Demandware for $2.8 Billion.

During the conference’s keynote session, Vincent Ircandia, Senior Vice President of Business Operations for the Portland Trail Blazers, spoke about the importance of knowing your customer and building trusted relationships with both new and returning customers. He highlighted how his team works cross-functionally to enhance data-based decision making, which ultimately affects bottom-line growth.

Marketo, at its core, is an email marketing solution. It allows for companies to send the right message, to the right person, at the right time. These tailored messages allow companies to build better, stronger relationships with customers before, during and after the sales-cycle.

But digital strategy today is more than just email marketing. We as marketers have to effectively utilize various channels to engage our customers, such as Facebook, email or Snapchat. To do that, we must understand our audience and ask the question: “How do our prospects and customers want to interact with us?”

And it doesn’t end there – we must also make sure that whatever channels we use to engage our customers are secure and trusted. We must ask ourselves: “Am I protecting my customers’ data?”

I think Ken Winko said it best during the conference…. “A brand can get it right 99% of the time, but it’s the 1% they don’t that the customer remembers.” His keynote on the The Future of Customer Experience was spot-on.

The customer journey doesn’t stop when the deal is closed. And it is more important than ever that businesses invest in building strong, trusted and secure relationships with their customers. For more information on how to build these relationships, check out our on-demand webinar: Consumer Identity and Access Management as a Digital Relationship Imperative.

By Sierra Summers