Stay in the latest updates. Get the latest tips and advice delivered straight to your inbox. Email Ellis Luk | August 7, 2012 | 5 Analysts on a revolution that is customer engagement Omer Minkara says it will create 20x greater revenue growth per customer. Geoffrey Moore calls it a “fundamental revolution”. Dion Hinchcliffe refers to it as a “momentous change in business”. And, oh by the way, 88% of CEOs agree. Here is what well known analysts have to say about the consumerization of the enterprise and the era of customer engagement. Paul Greenberg, President of of The 56 Group, LLC.: what defines the Era of Customer Engagement more than anything is that customers are part of the company’s collaborative value chain. The customer selects how they want to interact with you, and hopefully uses your products, services, tools and consumable experiences to make that decision. The IBM’s Institute for Business Value, in its 2010 CEO study found that the most important imperative for the next five years for CEOs – 88% of them to be exact – is to be closer to their customers. Omer Minkara in his report on Customer Analytics found that companies which built a centralized customer intelligence database and incorporated customer insights into customer facing actions achieved 3x greater customer retention and 20x greater revenue growth on a per customer basis. Ray Wang, Principal Analyst and CEO of Constellation Research predicts that the consumerization of the enterprise is causing a shift from transactional systems to engagement systems – resulting in new methods of furthering relationships, crafting longer term engagement, and creating transformational business models. Geoffrey Moore, author of Crossing the Chasm and Managing Director, TCG Advisors observes the fundamental revolution underway in enterprise IT replacing the existing Systems of Record – those tools, repositories, and systems upon which organizations have built their business processes for the last several decades – with Systems of Engagement. Dion Hinchcliffe, EVP at the DachisGroup: when we look back at the first decade of the 21st century, it will be obvious that a few momentous changes in the business and computing landscape occurred. Of these, one of the most profound has been a decreasing emphasis on systems of record and the move towards what are called systems of engagement. The goal is to connect customers and business partners together to achieve useful outcomes with the most cost-effectiveness and largest result. Popular Posts A day in the life of a Customer Success Manager: What do they do? 15,870 views The difference between Customer Success Managers and Account Managers 12,938 views Your 90 day plan as a new VP of Customer Success 5,500 views Ellis Luk I'm the marketing and communications manager at Totango - but you can call me Chief Content Officer. When I'm not writing, you can find me obsessing over memes, debating grammatical usage or getting distracted by the latest Tumblr gif blogs. Customer love starts with a friendly hello! You might also like You might also likeGrowth Hacking with User BehaviorTotango Named a Finalist in Three Categories for 2016 CODiE AwardsEasy-to-miss customer success blunders that can cost you customers BACK TO BLOG | NEXT ARTICLE Let's stay in touch! We’re passionate about customer success. Sign up to get the latest in thought leadership and to follow our adventures.