In order to be successful and viable in today’s highly competitive environment, a company must possess a customer-centric capability. Customers’ expectations have risen manifold and companies need to adapt themselves to meet their expectations to become profitable. It is no longer enough for companies to offer a great customer service. In fact, they should look forward to creating great experiences right from the awareness stage, through the purchasing stage and also through the post-purchase phase.
A research by Deloitte and Touche found that customer-centric companies were 60% more profitable compared to companies that were not focused on the customer.
Remember, you need to put your customers first and at the core of your business. It includes forming long-lasting relationships with valuable customers, interacting with customers at multiple touch points and integrating this data to have a 360 degree of view of customers. Collecting customer data in the CRM software aids in giving complete information about customers which can then be used to
- Understand buying behaviour, interests and engagement
- Identify opportunities to create customizable products or services for valuable customers
- Determine customer lifetime value and segment customers based on their purchasing patterns
Focussing on customer-centricity can lead to unexpected benefit for organizations in this competitive business environment where customers are empowered with knowledge and technological advancements. Also, enhancing customer experience also enhances the experience of the employees.
Let’s learn how an organization can make a transition to become customer-centric:
Value Loyal Customers
Organizations must focus on highly loyal customers and encourage employees to develop long-term and personal relationships with them. Employees must engage in creating a friendly environment for these customers to get continued business. Building lasting relationships with customers require constant communication. Brands must encourage and honour the trust among its customers with appropriate rewards from time-to-time.
Build Customer Feedback Mechanism
Invite your customers to give feedbacks and maximize its value by deriving actionable insights from them. Listening to your customers will empower you to implement changes to make sure excellent product and customer service is delivered. Also, sharing these feedbacks with employees will help them to better understand how their work impacts customers. They can also adapt to interact with customers in more meaningful manner.
Collect Real-time Data and Leverage it to Personalize Offers
Companies must focus on customer journeys rather than individual interactions. They must map out the different interactions with a customer and analyze the behaviour and demographic information of the customer to offer a more tailored and personalized experience.
Offer Omnichannel Experience
Customers wish to communicate with brands anytime and anywhere. In order to win new customers and retain existing customers there is a need to adopt omnichannel strategy. Provide your customers with an integrated experience across channels so that they are able to start their journey from any channel and take it to completion on other. Make the transition between channels smooth by ensuring all your channels are working in conjuncture with one another.
Invest in Employee Feedback for Improving Customer Experience
Ask your employees to share ideas for enhancing the customer experience. Employees often have a better and deeper understanding of customers’ needs and requirements, how their company can cater to those needs and what’s currently preventing their employees from delivering it. Inviting employees for feedback will enable brands to deliver consistently great experience.
Measure Customer Experience
Organizations must measure their customer experience and loyalty on a regular basis to keep a track of their performance and predict the future performance. Net promoter score (NPS) predicts customer behaviour by measuring their overall experience and is not based on single interaction. It helps in foreseeing the future purchasing pattern of a customer and determines whether that customer is going to recommend your brand to others.
Another metric ‘Customer Effort Score’ (CES) aids in minimizing the effort made by customers to communicate with a brand and makes it easy to pinpoint actionable service improvement areas, thus making customers more loyal to the company.
For being customer-centric, organizations must share these scores with their employees and should reward them based on these scores.