Posted on Fri, Feb 21, 2014 @ 08:48 AM by Carlos Lahrssen
It’s a simple fact. Businesses benefit when all operations focus on its most important asset: its customer base. Customers who use your products to make their daily lives easier are likely to ask the questions your business needs to know to improve upon existing offerings. Effective listening and thoughtful response can be the difference between a loyal customer and a one-time, regretted purchase.
This is the first in a blog post series on customer centricity—where we will explore the customer centric business, and feature how a business like yours can successfully tie every action to its audience.
What is customer centricity? Simply put, Wikipedia defines the term as “customer satisfaction” or “a measure of how products or services supplied by a company meet or surpass customer expectation.”
Reasons for wanting to keep the customer happy should be obvious, but below we explore our top 3 reasons for making customer centricity a priority for your overarching business strategy.
1. It Shows You Care
Customers will be more loyal to companies they feel a connection to—a tie that keeps them coming back. Customers cannot relate to companies they feel are only out to make a lot of money, so it pays to be empathetic and provide a service that truly provides for your customer base.
Be authentic and showcase a best-in-class, personalized service that attracts and retains the customers your business wants to remain successful.
Take a page out of Amazon’s playbook. Customers trust and use Amazon to comparison shop and so much more, setting trends and purchase-behavior benchmarks because they feel Amazon’s services make their lives easier:
- 69% of US adults shopped Amazon.com from April 2012 to April 2013, 55% for Walmart, 49% for Target and 34% for eBay.
- Amazon’s 2013 Q1 revenue rose 22% year over year to hit $16 billion.
- 92% of customers who showroom have used Amazon to compare prices.
What makes Amazon so special? Their ability to anticipate consumer need, and provide the tools and tactics the average person needs to make smart purchase decisions:
- Items related to those you’ve viewed.
- Items you might also want to consider.
- The advent of Sunday delivery.
- Drone service development for expedited delivery.
2. It Helps You Remain Competitive in the Age of the Internet
The internet has changed the game for product development and comparison shopping, making it easier than ever before for customers to make a purchase and find the best deals. In a medium where every business can become a player, it is now critical that companies set themselves apart to achieve brand loyalty. This is where customer-centric businesses thrive. When customers feel like they have a personal relationship with you, they will be more loyal.
Business 2 Community shares a few statistics on today’s customer interaction needs and challenges in today’s customer loyalty market:
- 71% of consumers receiving a quick brand response on social media say they would likely recommend that brand to others.
- The top 3 challenges faced by SMB B2B marketers are lead quantity (69%), lead quality (60%), increasing brand awareness (56%) and reaching decision makers (52%). It seems like those figures haven’t budged much in 20 years.
- Using Twitter for social media? Great idea, but you’d better be listening. 81% of Twitter users expect a same-day response to questions and complaints aimed at brands.
3. Employees Work Toward a Commonality to Create a United Culture
When employees know that above all is customer satisfaction, everyone’s end-of-the-day goal becomes the same. With everyone working toward a common goal, drastically different teams unite to help one another grow the business.
A company that shines at the strategy of uniting for the customer? Zappos. Every employee starts their employment with 2 weeks in the customer care call center, regardless of position type, to learn the customer experience and connect with the real people they work with to build relationships. You can read more about Zappos’ customer centric culture here.
4. Forced Responsiveness to Feedback Can Drive Innovation
Become customer centric and force yourself to take feedback (positive or negative) to heart—and shift business focus accordingly.It can provide your business with the facts and figures it needs to rethink strategy and look at process through a different set of eyes.
What could be improved for the better and become increasingly tailored to customer needs?
A simple way to find genuine customer feedback is to tap into the call center. Monitor customer chats and look for trends that may appear. Note if customers are commonly coming to your service team for a specific feature or service, and see if there could be an opportunity for your team to adapt for an asset.
At Nexogy, we provide call center software tools to help your team monitor, coach, and barge-in for customer benefit—truly collaborative technology that integrates and provides statistics and reports needed to become real-time responsive.
What could you change to make your business mission more customer-centric? Let us know in the comment section below, or read the next post in the series on customer-centric technology.