Customer centric: a fancy phrase for a very basic concept. It means focusing on what your customers want and need. Yet for such a basic concept, it amazes me how many companies fail to understand their customers.
Sadly, I also know too many companies whose customer experience simply, well, sucks. Companies that tend to top the lists of worst customer service are TV/Internet providers, health plans, wireless carriers, utilities and airlines. Marketers call these types of organizations product or profit-focused companies.
Now think of companies that offer great customer experience. Typically, names like Apple, Amazon and Amex lead those lists (and it’s not because they all start with an “A”). They continually make “best of lists” because they truly focus on their customers. Of course, products, services, and profits are all still paramount, but those things all occur through the lens of customer satisfaction, first. That customer centric focus translates to how they conduct their businesses and their bottom lines.
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Whether you are a small business owner/executive or part of a larger one (as an executive, attorney, accountant or consultant) you are in the “credentials game.” We all are. Our products and services need to make our customers happy so they continue to buy and refer us to new customers. Thus, we always must be building our credentials, furthering our expertise and leveraging that experience. A Deloitte study found customer centric companies are 60% more profitable. It’s a much easier and less expensive business model than always having to find new customers.
Our products and services need to make our customers happy so they continue to buy and refer us to new customers.
Here are 5 easy ways to make your business more customer centric:
Satisfaction = Perception – Expectation
Thus, if your perceived value falls short of expectation, your customers will be dissatisfied.
It doesn’t matter the size of your business or which audience segments you choose to target. When businesses focus on their customers’ wants and needs, it is easier to establish relationships, build loyalty and grow sales.
Scott Steer is a Marketing Strategy, Branding, Advertising, Promotion & Business Development Consultant with 25+ years working on iconic brands like Coca-Cola, Kraft, Anheuser-Busch, Gillette, and Texaco, as well as dozens of smaller niche brands. Scott helps small and medium sized companies use data and the resources available to them to optimize their sales and…
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