A group of Harvard Business Review (HBR) researchers claim, however, that most of these systems fail to provide sufficient insight into client relationships.

Their report is based on a major survey published in the HBR in collaboration with the international research group GfK. It argues that relational intelligence is vital to companies striving to attract and retain clients, who are becoming increasingly selective and demanding.

GfK South Africa is presenting a series of free interactive online webinars on building brand loyalty in an experience economy. The first, at 11:00 on Thursday, 16 April, is titled “Welcome to the Experience Economy”. Anyone who is interested can register here.

The HBR report claims that consumer companies often manage relationships haphazardly and unprofitably, committing blunders that undermine their connections with clients. Consumers are frequently frustrated by the inability of companies to meet their relationship expectations. Inappropriate responses result in missed sales opportunities and the loss of long-standing clients.

The ability to understand and manage the wide variety of different relationships clients have with a company significantly enhances the effectiveness of consumer data. It enables companies to better meet the needs of their clients and allows them to improve the profitability of these connections, says the report.

The research was conducted over two decades and examined more than 200 brands across 11 industries in the US, Germany, Spain and China. The report was authored by US academics Jill Avery and Susan Fournier, and John Wittenbraker, GfK’s global director of innovation, brand, and customer experience.

GfK South Africa’s relational intelligence webinars will take place on Thursday, 16 April; on  Thursday, 14 May; and Thursday, 11 June. The first is titled “Building Brand Loyalty in an Experience Economy”. Copies of the full HBR report can be obtained by email Bradley Taylor at [email protected] or Rachel Thompson at [email protected].

For more information on GfK South Africa, visit www.gfk.com/za.