In the age of big data as well as the ability to measure everything Sales, it is now possible to segment and profile customers with unparalleled accuracy. Companies which put the customer front and centre are reaching new levels of engagement through personalised outreach.
The power shift between brand and customer occurred during the economic downturn. Customers became more selective about which brand they elected to spend their money with. The brands who came out on top were the ones who treated their customers with respect, gave great service and built a relationship with them which still exists today.
Not many businesses are customer-centric
Most organisations do not have all of the components in place to claim they are truly customer-centric. However, the most crucial part to keep in mind is this: It is vital that you start with your customers and not your products. The next thing is to focus on what your customers want to do. By designing a sales process that is seen from the customer’s perspective, an organisation will be focused on the customer’s needs.
During the time of the recession, social media marketing, as well as social selling, exploded onto the scene. Mobile became a key part of the customer journey. Customers are now able to compare products and services in real-time and across multiple devices. This has posed a huge challenge for many brands.
What is the benefit of a customer-centric strategy?
Customer-centric business is a way of doing business with your customer in a way which offers a positive customer experience prior to and after the sale in order to drive repeat business, customer loyalty as well as profits.
Customer centricity is not merely about providing great customer service. It means providing a great experience from the awareness stage right through to the purchasing process and then finally to the post-purchase process. It’s a strategy which is based on putting a customer first and at the core of the business.
By being customer-centric, it will be possible to anticipate your customers’ requirements and delight them with products as well as services that they may not have thought of but will immediately fall in love with (example: the Apple iPhone or iPad). This means that the customer-centric brand designs products, processes, policies and a culture which are put together in order to support customers with a great experience as they are working towards their goals.
Customer-centric brands = passionate brands
Brands which are committed to customer-centricity are passionate and truly believe that the customer comes first. They are of the belief that without the customer, they are not able to go far in business (which is true) and would like to see the world through the customer’s eyes.
Marketers and sales teams inside customer-centric organisations understand what customers want. They use customer data to capture customer insights and then share this across the organisation. Brands which are committed to customer-centricity focus on what the customer wants and needs. They develop products as well as services around that.
Brands which are committed to customer-centricity focus on building relationships that are designed to maximise the customer’s product and service experience. Brands that are committed to customer-centricity analyse, plan and implement a thoroughly formulated customer strategy that focuses on creating and retaining profitable as well as loyal customers.