High tech companies have very intricate customer lifecycles, primarily due to short product innovation cycles. Competition complicates it with constant disruptions. With the vast choice available (in ultra-quick time too), no wonder the customer is fickle.
The industry is highly fragmented as well. Technology leaders are giants and the most valuable businesses on Earth (and therefore carry deep pockets). But it’s also fact that start-ups have challenged and decimated well-established tech firms.
Tech start-ups rise with a new category or value proposition that effectively supplant an incumbent in applications and the minds of users. They are also nimbler with creative customer engagement strategies and can adapt to changing market dynamics sooner.
Thus, apart from your product’s ability or quality, every customer interaction needs to count. Customers need to stay with you at and beyond every “moment of truth.” Infuse strategic flexibility into customer engagement to stay ahead of technology and category obsolescence. There is no alternative.