6 Guidelines You Must Follow When Developing Your Customer-Centric Strategy

Being customer-focused is more crucial than ever. With the proliferation of review websites as well as social media or publishing websites, businesses cannot afford to be a victim of a poor customer experience.

In reality, your prospective customers may be perusing some of these sites while considering whether or not to make purchases. If your reviews are favorable or not, the final result is the same: the experience of your customers is amplified and can have a huge impact on your company.

Add this to the extremely competitive market businesses need to be able to wow its customers to remain on top. The experts at the best digital marketing agency in Singapore will explain what does it mean to be a customer-centric company? What can you do to incorporate the concept of customer-centricity into your company?

 

Customer Centric Meaning: What is to be customer-focused?

Customer-centricity is a method of thinking which focuses on the customer’s experience at each stage of their buying experience – prior to as well as after the purchase.

If you operate a customer-focused business, you must put the customer at the center of any decision you take. Your goal is to meet the needs of your customers, creating an improved customer experience and developing long-lasting relationships. In essence, your customers are the heart of your business!

• Customer-centric in contrast to product-centric

In general, a business is either product-centered or customer-focused. Imagine someone is able to create an item and decides to create an enterprise. Their goal is to create the best product and release new versions and features without input from customers. 

The whole firm is defined by the products it sells. It is a company that is focused on its products. However, suppose the company is focused on providing solutions to address customer demands and issues. 

They seek out customer feedback and suggestions on how to improve in the pursuit of improving the experience of customers. The company is more than just provide excellent support and service – it puts the customer at the forefront of everything it does.

Strategies that are centered on customers are becoming increasingly efficient, due to the increase in competition. In a marketplace where customers have a variety of choices personalization and connection is the primary distinguishing factor.

Why is customer-centricity Strategy so important?

Instead of wasting time and energy trying to guess what consumers would like, why not inquire? Here the experts from digital advertising agency in Singapore advices customer-centricity is an unambiguous guideline to all of its actions and choices.

In the end, customers are the vitality of a company. They generate revenue and improve the bottom line. Additionally, they’ve been through the entire process of acquiring customers and are familiar of your product.

The problem is that most companies don’t give enough focus on their customers beyond the normal customer support funnel or sales channel. That’s an enormous miss opportunity. Customers can provide many insights:

Your strengths and competitive advantages

• What made customers choose to purchase and remain with you?
• What were the most important factors that influenced their buying choice?
• What other options did they think of?

Market information (proven customer demographics)

• Where are they located?
• Do they reside with their family, friends or do they live on their own?
• Which school do they attend? What is the industry they work in?
• How did they come across your product?

What are your customers’ experiences with your product?

• What is their frequency of utilize your product?
• How long do they spend on your product?
• Did it prove difficult for you to begin with?
• What level of satisfaction do customers have of your product?

What’s your company’s doing well

• What are they most fond of about you? About you?
• What are the features that customers typically use?

When your company isn’t performing

• Was it simple to purchase?
• Did you find some feature difficult or difficult to comprehend?
• What other things do they want to see?

Each of these points directly contributes to the overall strategy of your business which will help increase customer satisfaction and create opportunities to grow. Find out more about how you can create surveys for customers and research customer satisfaction.

Benefits of having a culture that is customer-centric culture

Spending more time and effort towards your clients will bring benefits, and provide you with an edge over your competitors. Here are some statistics that demonstrate the advantages of focusing on customers:

• Businesses that provide a superior customer experience earn 5.7 times more revenue than those who do not
• 84% of businesses who actively enhance customer service are able to increase revenue
• Customers-focused companies are 60 percent more profitable than those that don’t focus on their customers.
• U.S. consumers will pay up to 17% to a company that provides excellent customer service
  90 percent of CEOs believe that their customers have the biggest impact on the success of their business.

As you will see, customers that are considered valuable by businesses will be more likely to remain loyal. This results in a lower customer churn, higher customer retention rates, and a higher the value of a customer’s lifetime (CLV).

In turn, with happier customers, more favorable feedback and recommendations. If you’ve done all that you could to provide customers with an exceptional experience and they’re happy to post their experiences online or direct people to your company (you may just have to make sure they ask in how to ask them.)

Personal recommendations are among the most reliable methods that marketers use. In addition the more people hear positive reviews more people will hear about your reputation and your reputation will be.

What challenges can be expected when you build an enterprise that is customer-centric. Although eighty percent of businesses within the U.S. say customer satisfaction is their top prioritization, just one out of five companies has demonstrated the capability to provide a superior customer experience.

The truth is that operating the business model that is customer-centric requires commitment. There are a few typical problems you might run into:

Your company is able to cover a broad market

Businesses that cater to diverse regions, customer segments or even multiple product categories usually have different teams that manage each of them.

Do you have everything aligned under the same customer-centric approach or split your efforts? How can you ensure that you’re providing the same excellent customer experience?

If your company has an outstanding flagship product that is highly valued you can begin by focusing your customer-centric approach at first.

However in the event that there is a huge variation between the different customer segments (for instance, you’ve got customers both in both the U.S. and in Asia) It’s better to divide strategies. Keep teams in sync through regular meetings that exchange knowledge and share knowledge.

Your customer’s information with Sales

Different teams employ different tools. Sales teams could make use of HubSpot or Intercom and customer support can assist with tickets using Salesforce as well as Freshdesk. Each tool has its own reports on analytics and data how do you put all of it together?

Customers travel across your organization and your customer-centric approach must follow suit. But this doesn’t necessarily mean an entire reorganization. Form a team of cross-functional members to address specific problems (say, reducing customer turnover) and establish an internal hub that brings relevant data and information together. 

The Customer relationship management (CRM) software is a great method of organizing all of your customer contact points and data in one location.

It is a major shift in the way businesses plan their business

If you’re used to putting all your time to your products and services and focusing on your customers can be a little unnatural. Particularly, if your business is already performing well. It’s not difficult to return to “business as normal” since it’s more convenient and more comfortable.

If you don’t pay attention your customers, they’ll quit you.

To help you transition to a new approach to a more customer-centric approach, it is helpful to recognize the value with a customer-focused approach. Review reviews, speak to your top customers, or make a survey for them. This will give the opportunity to see what could learn from your customers and how you can incorporate it into your everyday business.

It’s a commitment that lasts for a long time.

Think of customer-centricity in the same way as any other behavior or ability. It takes time to develop. While the initial few weeks could be easy (thanks of the excitement at first and enthusiasm) it’s crucial to stick to your plan.

As time passes, a customer-centric attitude will be embedded in the way you conduct business. However, until that time there are some suggestions that may assist:

• Develop a strategy it’s one thing claim that you’re focused on customers, but another to decide the steps you’ll follow to achieve it. The strategy should be broken down into concrete steps. For example, you can hold two training sessions for customers every quarter, or distribute 10 surveys to your customers every month.
• Monitor your development: Keep tabs on your strategy’s progress as you carry it out. What improvements have you implemented? What are the changes you’ve noticed? It’s not just to ensure that you’re heading towards the correct direction (and provide you with an opportunity to make a correction) It’s also a good reminder to look back and see how you’ve made.
• You can share it with other people Share it with others: Sharing your work with others (or sharing updates with someone to can share updates with) does not just increase your commitment level however, it keeps you on track and brings fresh ideas to the table.
• Celebrating milestones built a new knowledge base? Did you recently launch the first campaign to promote customer service project? Honor these achievements with your team as they build your plan.

How can you be more customer-focused?

A customer-focused business begins at the foundation, with a culture that is customer-centric. The term “culture” is used to describe the beliefs in which “shape attitudes and behavior in a variety of and long-lasting methods.” 

The concept is a continuous process through multiple levels and “direct [the ideas and actions of members of the group in the long run.”

A customer-centric culture implies you care about your existing customers’ requirements and overall experience with your company. Your customers are the ones who guide your entire team and business.

Let’s think about this for a few minutes. What does it mean for your company’s operations? What are the practices you’re using that aren’t focused on your customers?

This isn’t difficult for certain teams, such as customer service or sales where prioritizing the needs of customers is just natural. However, it’s crucial to apply the principle of customer-centricity to other areas, too. 

For instance, you could make sure that any new product or services to meet your customers’ demands. Also, you can create a webinar that is tailored to the most frequently asked questions.

You’re still operating an enterprise and will encounter difficult customers. You can still treat them with respect and provide the most efficient solution without feeling like you’ve given into their every need.

If you get angry or do something wrong and act badly, you’ll have greater risk of losing than your customer. They could leave you with a negative review or even share negative reviews that could easily be shared and damage your company’s image.

A customer-focused culture needs to start with the top the leaders. They should create a solid set of values that are fundamental to the company and train every team member and offer each resource necessary to facilitate customer satisfaction. In the end, leaders should establish a standard across the company. Begin with a top-down approach.

How do you measure customer-centricity?

What can you tell if your customer-centric strategy actually effective? There’s two methods to determine the extent to which your business can meet the needs of your customers Customer Performance indicators (CPIs) as well as the key performance indicators (KPIs).

Performance indicators for customers

CPIs (Customer Performance Indicators) is a fairly recent concept that measures the performance of a plan for your clients. Instead of sending out an online survey to gauge feedback (which isn’t always clear and beneficial for the business), CPIs measure the results that customers value.

No matter if you’re B2C or B2B business, your customers will have certain expectations of a speedy check-out, a simple sign-up procedure, quality products, quick customer service and much more.

Although customers may be experiencing similar issues however, you must find out the CPIs specifically pertain to your business. For instance, a patron in a store is likely to seek the convenience of a low price and the ease of shopping. Hotel guests might appreciate the efficiency of their service and its customer care.

The most effective CPIs focus on the customer’s context, where they are in the moment they begin to engage with your company, as well as what they are looking for throughout the purchasing process. The digital marketing agency suggests some suggestions for starting:

1. Time

• How long does your solution help customers save time?
• Are you allowing your customers to find your product and checkout in the shortest possible time?
• How long will the customers need to sit in line for support or service?

2. Convenience

• Are your products readily available to your customers?
• Do you provide services at times that are most convenient for your customers?
• Do you offer several payment options?

3. Product value

• Are your products made well and sturdy?
• Do customers complain often about the breakage?
• Does your price reflect with the product’s quality?

4. Service

• How can customers get help?
• Do you know of anyone who is constantly reaching out to make an appointment?

There are many more possible CPIs. Learn about your customers and find out the outcomes that are most important – and then, begin to measure them.

Key performance indicators

Behind every strategy that is customer-centric is still an organization. Key performance indicators show the effectiveness of your strategy from a commercial point of the.

While the standard business KPIs focus on revenues and sales and customer-centric KPIs focus on how the efforts of customers impact the company. Here are a few common metrics to monitor:

Customer retention rate (CRR): is the amount of customers you’ve maintained over a specific time. It’s the percent of your total customers (at an exact time) with a long-term relationship. To you and have likely to have made repeat purchases. It’s the reverse of customer turnover.

Customer churn: Customer churn refers to the percentage of your total customers (at an exact time) that have decided to stop purchasing or subscribing to the services of your company. It’s the opposite of retention.

Customer lifetime value (CLV): 

CLV is a measure of how much income a single client will earn throughout their entire time with your company. It’s a great method to calculate buying frequency, value and the average life span.

Word of mouth an excellent gauge of how satisfied you are with your clients. They don’t tell you what they think however, what they say to other people. This is evident as favorable reviews on the internet, mentions of brands organic word of mouth or by sharing via a refer-a-friend program.

Surveys of customer feedback there are three main surveys that are used to evaluate various aspects of the customer experience.

• A score of customer satisfaction (CSAT) is the standard way to measure satisfaction, with multiple questions on satisfaction levels that are based on five-star ratings.
• A score for customer effort (CES) is typically an answer to a single question (asked after purchase) which determines the amount of effort a buyer required to make their purchase.
• Net Promoter Score (NPS) concentrates on one measure – the probability that the customer will refer your brand to other people. This is discussed more in detail in our post on NPS-related questions.

Guidelines to follow when developing your customer-centric strategy

Although the best for a customer-centric strategy will differ for every company but there are a few top practices that can be beneficial to any company stated by the experts offering digital marketing services:

1. Make sure you know your customers (and stay in touch)

Only way you can understand your clients is to be in contact with them. Not just through expected transactions and other ways, but by taking proactive steps. 

Send out a survey to your most valued customers or arrange an appointment to check in with those who have recently bought a product. If someone reviews your product or comments concerning your brand on Facebook or Twitter (whether good or not) respond to their post.

It is important to contact your customers and visit them on the platforms they use most often. This is the most effective method of learning ways to improve the overall experience for customers.

2. Take things in your customers’ eyes

Before you make any decision take a look at all the aspects from your customer’s eyes. What will the changes do to them? Does it improve the customer experience more enjoyable?

If you’re not sure, you could ask them. Send out a quick survey to your most loyal customers, asking them what they’d like learn more about your company with your suggested suggestion as one of those possibilities.

It is also possible to conduct the A/B tests (although this is best with digital items). A/B testing is a standard method that frequently produces unexpected results. Even the top companies will not be able to know exactly what works for their clients, which is why it’s essential to keep them updated.

If you think about your customers first then you’ll have a better in giving them what they want, and also knowing how you can improve the conversion rate of your customers.

3. Personalize your customer experience

Here’s a tried and true method to grab a customer’s focus: Make use of their name, suggest products they’d really like, or give discounts for the items they’ve got in their cart.

Personalization can differentiate you from other customers’ messages, and if done right, is very difficult for competitors to duplicate.

Studies have shown that that 80% of consumers tend to buy when they have a personalized experience. But, be careful that you don’t go overboard. Being all over the place and too friendly with your customers could appear creepy. Certain customers might prefer a more casual approach.

It is always recommended to learn from your customers and adapt your approach to their requirements.

4. Each employee must be an integral part of your customer experience

Some businesses even require all employees to communicate with customers. For instance, Twilio engineers communicate with at least one client every quarter, whereas Disney is famous as having “cross-utilization” shifts in which the leaders decide to take care of guests in the front line.

These interactions with customers firsthand provide everyone with an understanding of the customer and their needs, as well as insights that they can provide to the company and fresh ways to improve the experience of customers.

Even if you’re not going this path, it’s essential to bring your entire team to embrace to adopt a customer-centric approach. Set up regular meetings and updates as well as documents that everyone is able to access easily and discover ways that all employees can be part of this method.

5. Continuously improve your customer-centric strategy

As with all great strategies, customer-centricity isn’t a thing that you can put in place and forget about. If your business evolves as do your customers. Make your customer-centric strategy in place and adaptable to change. 

Examine the customer experience at each phase of their buying journey. There may be a reason why certain techniques are more effective over others. Or that your customers would prefer self-service in the middle of a long selling cycle.

Keep listening to your customers and be on the lookout for any changes in their requirements and preferences. These data, in conjunction with the latest industry news and trends can aid you in staying ahead of your competitors.

 

Conclusion:

Absolutely, excellent customer service is a crucial aspect of being a truly customer-centric company. But being truly customer-centric means more than just the above. Customer-centricity means putting your customers at the heart of every decision and move you take.

It can take some time to move your business to the customer-centric approach However, the results are definitely worth it. Your customers will be the most happy, and likely to remain loyal and are more likely to recommend your company. Read our previous blog on