In an age of informed and digitally savvy consumers, a customer-centric marketing strategy can be a game-changer for a business. It is clear that by reaching more prospective customers and fostering a deep connection with the brand, companies can set themselves on the path to sustainable growth and increased profitability. According to a recent article by Forbes, the probability of converting an existing customer is between 60%-70%, since they spend 67% more on average than new customers.
Customer-centric marketing strategy involves understanding different customer segments; the cost of acquiring and retaining these customers; modelling the customer lifetime value across business scenarios; differentiating and building a roadmap for the product based on customer lifetime value; the drivers behind customer retention and loyalty, and the overall impact on your profitability, revenues, and brand.
Wharton Online, in collaboration with Great Learning, has launched a revolutionary online program
focused on customer-centric marketing strategy. Along with working on a hands-on simulator designed by Wharton Interactive, in this program course learners will learn to build a customer-centric marketing strategy and roadmap, model customer lifetime value and retention, segment the market based on customers, and build a marketing plan and roadmap to turn customers into avid loyalists.
This program is beneficial to all mid-to-senior level working professionals from across industries for learning effective strategies to manage and acquire customers with thought leadership in customer-centric marketing strategies. Any professional who is directly or indirectly working to deliver customers a stellar experience through their offerings will find immense value for reinventing their marketing and business strategies.
Through this extensive 10-week program, learners will be taught using a combination of learning methods that include bite-sized lecture videos by Wharton faculty, sessions with industry experts, and reading material meant for self-learning. The curriculum is designed by the renowned author and faculty member, Professor Peter Fader from Wharton Online and Great Learning, and begins with a team-based simulation on customer-centric marketing strategy. Each module will be covered in one to two weeks (depending on the topic), concluding with a capstone project which will include a hands-on simulation on customer-centric marketing strategy to maximise customer lifetime value.
Through this program, learners will learn how to create successful marketing strategies by efficient customer acquisition, retention, and development, as well as undertake marketing segmentation by distinguishing profitable customers from less profitable ones. The program will help learners identify profitable strategies using customer lifetime value and other marketing parameters, and build a competitive advantage for their business. The program course will also help learners understand the allocation of resources towards various marketing strategies, and help choose metrics to guide ongoing customer-centric efforts to strengthen their marketing strategy.
To know more about this program, check out the online brochure here