*NCDM: Keynoter Says Successful Companies Give Consumers Control

Share this content:
LAS VEGAS -- Successful companies will be those that give up control and give the consumer what she wants, said Bruce Schnitzer, chairman of Wand Partners, a New York-based investment firm that specializes in investments in established businesses in his keynote speech here yesterday at the 25th National Center for Database Marketing Conference and Exhibition.


Companies that take this approach "will be rewarded with profitable relationships" said Wand. "The economics of e-commerce and integrated commerce are defined by nothing more or less than the lifetime value of individual customer relationships."


However, he said, that so far consumers are not "very happy with what


we've been offering them." He cited telemarketers, and how most consumers find them annoying, as an example of this.


In addition, he said that privacy concerns, which have spread rapidly over the past few years by consumers, are a "symbolic message for consumer control."


These concerns, he said "should be a wake-up call for everyone." Companies should examine what they are offering their customers in terms of marketing, and make sure that it is favorable to them.


However, he said this is a difficult task, because customers are complex, and "a desire to maintain privacy does not mean they don't want


personalization. They won't both."


Smart companies, he said will facilitate consumer control, "which in our opinion is just good business…Companies that do this will be able to establish trust and as a result establish long-term, profitable relationships."

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above