Driving increased revenue and market share requires a comprehensive knowledge of your customer along with aa commitment to the customer experience. CEOs should be an advocate for improving customer experience (CX) that drives successful B2B customer acquisition. Specifically, when talking to marketing leaders about B2B marketing strategies, CEOs should be asking these tough questions to ensure that CX is central to the marketing strategy:HAVE YOU IDENTIFIED TARGET PERSONAS IN YOUR B2B MARKETING STRATEGY?Going through the exercise to develop personas based on market and customer research is fundamental to understanding your target customer. Additionally, personas help marketing teams engage these customers in the buyer journey based on motivators and detractors. For example, persona-based web experiences are 2 to 5 times more effective. Yet, only 44% of B2B marketers use personas as a part of their B2B marketing strategy. CEOs focused on successful customer acquisition should expect personas are incorporated into the marketing touchpoints along the buyer journey.HAVE YOU MAPPED A PERSONA-BASED CUSTOMER JOURNEY TO SUPPORT B2B CUSTOMER ACQUISITION?Once personas are developed, marketing should create persona-based experiences that move target customers forward in their journey to purchase your B2B organization’s product or service. B2B marketing strategies should play into each customer touchpoint along the buyer journey. To create inspired customer experiences that contribute to increase revenue and return on marketing program investment, marketing leaders must focus on the touchpoints that move the buyer forward. CEOs should be asking hard-hitting questions to ensure marketing’s focus is aligned with B2B customer acquisition.HOW DO YOU DEFINE AND MEASURE THE SUCCESS OF YOUR B2B MARKETING STRATEGY?Supporting the successful execution of an organization-wide customer experience initiative should be a B2B marketing strategy that has clear goals and metrics. Your marketing leadership should outline how their B2B marketing programs create direct contribution to revenue and fuel high growth. CEOs should expect marketing to provide the customer experience metrics that show direct contribution to B2B customer acquisition.NEXT STEPSA customer-centric organization is critical for B2B customer acquisition. This customer centricity should start at the top with CEOs advocating for customer experience initiatives. CEOs should be asking their marketing leadership the hard questions to ensure customer experience is embedded in marketing programs and support driving customer acquisition. Inquiring about personas, customer journeys and success metrics should help CEOs gauge marketing’s alignment with the organization’s revenue and growth goals.Finding a demand generation agency that partners with CEOs and marketing leaders to embrace customer experiences that fuel high growth and increase market share is very important!
Online lab report writing
A lab report is a fundamental document for any scholar pursuing scientific studies. This type of academic document serves numerous roles. Firstly, instructors use a lab report to assess the student’s understanding of scientific concepts. For instance, the instructor might be interested in assessing the student’s proficiency in hydrocarbons. Using lab reports, this objective is easily achieved by the instructor. The lab reports are also essential tools for developing the communication skills of scholars.
It is always pertinent for scholars to have adequate communication skills as they pursue their studies. For most instructors, academic essays are extremely essential towards the attainment of this goal. Through lab report, the scholar hones his ability to express ideas to different people. This aspect is extremely essential even within professional circles.
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Money Laundering and Major Risks
The concept of money laundering is very important to be understood for those working in the financial sector. It is a process by which dirty money is converted into clean money. The sources of the money in actual are criminal and the money is invested in a way that makes it look like clean money and hide the identity of the criminal part of the money earned.
While executing the financial transactions and establishing relationship with the new customers or maintaining existing customers the duty of adopting adequate measures lie on every one who is a part of the organization. The identification of such element in the beginning is easy to deal with instead realizing and encountering such situations later on in the transaction stage. The central bank in any country provides complete guides to AML and CFT to combat such activities. These polices when adopted and exercised by banks religiously provide enough security to the banks to deter such situations.
However if a bank encounters any such situation it encounters the following types of consequences:
Reputational risk
The major risk a bank faces when it finds itself caught in any sort of money laundering is reputational risk. The reputation of the bank goes negative and in turn it might face huge withdrawals. There might me loss of profitable business and many other liquidity issues. The quantum of this risk might cause a bank to confront various investigations costs and penalties. The biggest hurdle a bank has to undergo is the situation of mistrust by the customers which is devastating.
Operational risk
It is another one of the major consequences of money laundering which a financial institution faces. It is a kind of risk which lies in the internal procedures, people and system after they breakdown. It is a risk which is included in the operations of the business. Thus it creates disturbance in the smooth functioning of the organization.
Legal risk
Legal risks are also posed to the organizations due to the uncertainties in the legal actions which might come up for the organization to deal with them. These might include certain charges on the bank, the dealing between the money launderer and the bank etc.
Concentration Risk
This type of risks is majorly pertains to the banking industry and defines the probability to which any bank has lent money to a particular group. The increased lending without proper identification or the realization after encountering money laundering act may cause a bank to suffer loan losses which in turns deteriorate banks standing in the industry.
Opportunity Cost
One of the major consequences a bank faces is the increase in opportunity cost. It is increased in a way that the management finds itself spending its time in managing the damage control which the act of money laundering has caused instead of utilizing that time for other better perspective.
Thus money laundering brings many adverse consequences to the organization due to the risks it presents. It increases the probability of major risks and the opportunity cost of the bank and ultimately causes the bank to face losses.