2010-01-19

Regional Survey Offers Organisations Key Strategies to Ensure Success

Dubai Knowledge Village, the region’s premier destination for human resource management and a member of TECOM Investments, today announced the results of a survey conducted in collaboration with Third Eye, a leading Dubai-based strategy and marketing consultancy, to gauge how organisations are managing the customer through one of the worst global recessions in history.
Over 400 managers across the GCC region responded to the survey that sought to understand how well organisations in the region were managing issues such as retaining existing customer base, focusing on the most profitable customers, and improving the value delivered to them as a way of defending market share and enhancing returns.
The results of the survey summarise the key findings and highlight what organisations are doing or not doing to fulfil the expectations of the customer – the most critical element of their business.
Omar Shamma, President, Third Eye, said: “Whether or not the reader participated in the survey, this report will provide valuable insights and ideas in understanding how best to retain customers…when it matters.”
Dr Ayoub Kazim, Executive Director, Dubai Knowledge Village, said: “The survey is part of the DKV Corporate Research Centre’s continuing endeavour to offer economic and market data for the benefit of UAE-based businesses.

“The survey by Third Eye provides useful guidance to organisations for aligning their strategies and optimising performance. We believe the findings of the research study will additionally facilitate senior managers in the regional corporate sector to take effective measures in tackling emerging challenges.”

The ‘Keeping your customers when it matters’ survey concluded companies in the region can do much more to further enhance their market position and realise higher returns in the short term. The study essentially recommends a few complementary strategies that focus an organisation’s resources on its most profitable customers.
Through segmenting customers based on profitability, the study says an organisation can enhance its performance in the short term by adding profitable new customers whose profiles are similar to the existing profitable customer base; growing the profitability of existing profitable or unprofitable customers by increasing account or product penetration; and avoiding unprofitable customers that can be easy to recognise following the profitability segmentation.
Losing fewer existing profitable customers (retention) by consistently meeting their requirements for value and instituting customer recovery programmes, as well as ‘losing’ or ‘firing’ customers that cannot be made profitable are other suggestions that were inferred from the survey.
Pointing out the need to work smarter, the survey suggests that managers need to step back and evaluate their markets and customers to uncover all the potential ‘quick win’ opportunities that exist right under the surface, waiting to be exploited. Highlighting the fact that while under pressure too many managers focus on the results without putting much thought on how to achieve those results, the survey insists there are no silver bullets or magic formulas and only those that are persistent with their dedicated efforts will reap rich benefits.
Launched in 2003, Dubai Knowledge Village aims to consolidate the status of the emirate as a global destination for human resource management and learning excellence. Hosting over 400 centres in HR development, professional testing, as well as management training and consultancy services, DKV is a unique hub that offers the right investment opportunities in human capital empowerment, skills development and enhancement.
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About Dubai Knowledge Village
Dubai Knowledge Village (DKV), a member of TECOM Investments, launched in 2003, places the Middle East on the map as a destination for learning excellence. Its 1 KM long picturesque campus provides a ready environment for a variety of knowledge-based entities including training centres and learning support entities. This thriving knowledge community was founded as part of a long-term economic strategy to develop the region’s talent pool and accelerate its move into a knowledge-based economy.  Benefits for Dubai Knowledge Village partners include 100 per cent foreign ownership, tax-free status, full repatriation of assets and profits and effortless visa issuance procedures. DKV partners include training centres, professional centres and HR companies. DKV also enjoys the distinction of being the world’s only Free Zone totally focused on professional training and learning support services.