| There
is no denying at this point that the present
economic crisis is affecting both the top
and the bottom line of companies throughout
Asia. Not only are many companies being forced
to cut operating and capital expenses but
they are also faced with declining markets
as businesses and consumers alike cut back
on their spending.
IDC expects most companies in the region
to be extremely focused on costs this year.
Recent surveys done by IDC in this region
have shown that almost 80% of companies
already have been or expect to be told to
cut back on expenses in 2009 – and
about half of these companies expect these
cutbacks to affect IT or Operations.
Some companies, however, will respond very
differently to the economic crisis. Instead
of simply cutting back costs, some of the
more visionary (or bold) companies will
choose to focus more on the revenue generating
sides of their business. Others will realise
that the only way to keep their businesses
afloat in a declining market is to increase
their share of wallet of whatever does remain.
Still, the cost of business by selling a
product to a new customer is many times
higher than selling to an existing customer,
so keeping the churn down should be a key
focus area in 2009.
Customer care emerges as not only a key
differentiator between companies but is
also fast becoming an invaluable tool to
capture new markets and new customers. Fortunately,
new technology is transforming the way Customer
Care can be provisioned. As well as new
ways to apply customer analytics, virtual
call centres, and multiple modes of communication,
Web 2.0 and virtual worlds are changing
how companies reach new customers and keep
existing customers engaged. IDC refers to
these new tools as "Advanced Customer
Care and Retention" or ACCR. |
