Contents
- Introduction
- Customer-centricity necessitates CX
- Making a successful model
- Measurement
Introduction
To be ‘customer-centric’ means putting customers at the center of all decisions. A customer-centric organization uses experiences to build lasting relationships. Rawnet’s Nick Phipps investigates.
According to a recent Econsultancy report, being customer-centric is the most important characteristic of a “digital-native” business.
Customer-centricity goes beyond a good customer experience. It’s about building a strategy around the customer.
These tactics take time to develop. To anticipate future customer needs, businesses must first understand their current ones. This means putting the customer first and investing time and resources into building a mutually beneficial relationship.
Start with data. It’s critical to combine these data sources to create a unified platform that improves customer experiences. Customer-centricity metrics like customer lifetime value, Net Promoter Score, and purchase likelihood must be established once the strategy is in place.
Customer-centricity necessitates CX
When a company decides to implement customer-centric models, it must start with the customer experience. In an era where most customer interactions are digital, this is critical. Revisiting the customer journey is vital.
A company cannot exist without customers. Putting the target audience’s perspective first is a must. A customer-centric approach must include leadership, strategy, and the three ps. People, processes, and platforms will determine an organization’s overall success, but without a solid strategy and knowledgeable leadership, it will fail.
A louder voice, more options, and higher expectations are stated by Matt Watkinson in his book The Ten Principles Behind Great Customer Experiences. Satisfied customers will decide whether to make another purchase; referrals from friends and family may bring new leads and customers. Understanding customer needs can help a company improve marketing and even services.
Budgets are a must in business. Trying to court customers by courting leads is a waste of money and time. Retaining customers is more efficient. Loyal customers are more likely to repurchase than those who haven’t (yet) built a relationship with the company. Customer retention generates profits.
Making a successful model
It’s obvious to market to your customers. Audiences now expect brands to be more personal and targeted. Promoting services and offerings that are valuable to them individually will help. Diversifying your customer base and marketing methods will help you retain customers. Marketing should focus on retention, adoption, and growth when determining the best approach.
Start within. A customer-centric team is essential to the company’s success. Employees who have empathy and put customers first will fare better than those who do not. Connecting with the target audience builds relationships and trust.
Measurement
Organizations will need a way to measure customer centricity. This can be a scale of customer satisfaction or a likelihood of recommending services to others. Reviewing this vital data can help a company decide how to improve future customer experiences.
Profits will continue to rise for a company with a healthy pipeline of long-term loyal customers. Starbucks, Amazon, and Ikea are just a few examples. Taking inspiration from these successful businesses will help brands become more customer-centric by focusing on long-term relationships and loyal customers.