Without customers, businesses fail. As we ponder and project what 2010 has in store for us, I look back to my thoughts and predictions from this past year to see what the future could hold.

There are a number of questions that continue to stick out in my mind just as much today as they did last year. “What will happen when companies are finished with the layoffs, the cuts, and downsizing? How will companies rebound, engage their customers, and encourage them to spend again? What will they need to do to engage customers and win their business?” And finally, “what will be the most efficient and effective manner to accomplish this?”
 
Executives challenged by these questions have much to consider – so, where do they start? They start by considering the total cost of ownership. From strategy development to execution/deployment, operational and maintenance issues to scalability, the total cost of ownership is a critical number for organizations to understand and examine. Understanding what technologies are available to enable their customer engagement strategies, what is needed to justify and implement these solutions (especially in the tough economic climate we face), as well as how they impact the path to purchase is vital to determining a proper ROI.

The true challenges lie in what executives must consider next. How do companies re-engage (or in many cases, engage for the first time) with prospects and customers? And just as important: How can their everyday experiences be turned into exciting and pleasurable experiences, yet also demonstrate an understanding of the time constraints and other limitations people face?

And therein lies my big prediction. Customer engagement will be the name of the game in 2010. Customer engagement will be what provides answers for these important questions. While electronic communication often can be effective and improve both cost and operational efficiencies, communication alone does not address the dilemmas companies face, nor does it do more than suggest reasons for product purchase. It may be a piece of the puzzle, but it does not provide the solution.

What is needed is a focus on engagement and the development of a strategy that ties in not only informational communication, but more importantly, addresses how to engage customers and prospects in a manner that takes them down the path to purchase.

In the coming months, I’ll revisit this prediction and discuss if this prediction is in fact holding true. It should be interesting to see the path our industry takes this year and I think it’s safe to say we’ll have some amazing examples to discuss along the way.