51. When It Comes to Long-Term Value, Incumbents Should Think Like Digital Disruptors.
- Author
-
Furr, Nathan and Chakraborty, Kunal
- Subjects
MACHINE learning ,CHIEF marketing officers ,INCUMBENCY (Public officers) ,VALUE engineering ,MARKETING ,BUSINESS to consumer transactions - Abstract
This article explores the concept of long-term value and how established companies can learn from digital disruptors. It emphasizes the importance of customer lifetime value and customer acquisition cost, as well as the overall customer experience. The article suggests that incumbents can leverage their existing customer base and utilize data, AI, and digital engineering to identify valuable customers and drive growth. It provides six key actions for incumbents to adopt a disruptor-style digital growth engine. The article also highlights the significance of data analysis, digital engineering, talent acquisition, and the use of AI in creating personalized experiences and improving customer outreach. By implementing these strategies, businesses can increase customer lifetime value and thrive in the era of AI. [Extracted from the article]
- Published
- 2024