Customer
centric marketing; company, process, policy, culture influences the way everybody in the organization
behaves and makes decisions. Regardless of their role, employees are keenly
aware of how it could affect the customer. However, as the people who are
primarily customer-facing, sales and marketing professionals typically have the
most direct impact on the CX.
Marketing is dynamic and now a research hub, a creative lab
and a growth engine — all in one. Marketing is a data-driven amalgamation of
tools. Savvy investments and accurately measure and analyze the success of
those investments in driving sales and revenue has earned marketers a strategic
seat at the decision-making table. It will require customer
relevance, Value,
Happiness, Satisfaction all about Centricity- CUSTOMER FIRST.
Drive
traffic, pursuing though buyers journey helping them feel homely and friendly
with brand. Much more have to manage CRM, CDP,
CLM, and Retention & Loyalty. An enterprise has a lot to consider if it
wants to achieve this. There’s an explosion of data and touch points to manage.
The consumer privacy landscape grows tougher by the day. And companies need a
solution for surfacing accurate and trusted data in real time so they can move at the speed of their customers:
· Whether
a business or consumer, today's buyer is more Learned & Leaned Educated
informed; more conscious savvy, and more particular about the brands they
choose than ever before.
· Today’s
consumer craves brands that share their values and demonstrate that they
understand “me” at a personal level.
· Social
media booming age; Connectivity became inexpensive and usual in our day-to-day
life. Everybody socialize connected through Mobile Pages Groups Forums Meetups
Alumni and so on.
· Apps like Messenger
WhatsApp Skype Google Meet ZOOM and other Live Chats apps. Personalize
interaction is the new norm. Having a business model that revolves around
customer-centricity is essential. It helps the organization to achieve
a positive and personalized experience for their customers...
What’s driving this trend? It turns out the digital
economy, which grew fast during the pandemic, added a new twist to an old
adage. Yes, customers are always right… and now they’re in complete control of
their relationships with brands. This twist adds significant complexity for
businesses looking to differentiate based on the experiences they offer.
Let’s look at the challenges surrounding customer centricity,
how enterprises tried to achieve it in the past, and why technology like new
customer data platforms (CDPs) are ideally suited to help accelerate this shift.
The
definition of customer centricity is the act of putting your customers at the
heart of everything an organization does. This requires deep understandings of
customer expectations and perceptions, as well as aligning across all facets of
the business, including – but not limited to – operations, product, marketing,
service, and sales in order to be truly customer-centric.
What
is meant by customer centricity?
Customer-centricity means putting the
customer first and at the center of everything that you do. ...
Customer-centric organizations take steps to understand the customer and act on
that understanding by creating a culture that empowers employees to make the
best decisions for both the customer and the company in parallel.
What
is an impact of customer-centric marketing?
A customer-centric culture empowers
marketers to increase loyalty and boost repeat sales through ongoing
communications that are valuable to customers.
What
is customer centricity and why is it important?
Customer centricity is an approach to doing
business that focuses on providing a positive customer experience in
order to drive profit and gain competitive advantage. ...
Customer-centricity helps you to build trust and loyalty of your customers, but
also a solid reputation.
Here Company at starting, Customer in the
Middle or center and Communication last to rapping up organization and customer
all together. Company is a Body, Customer is a HEART or revenue that infuses
blood to the organ or body, and communication is vain/wires that circulate
electricity/relation throughout.
Company- #1- C
”A company is a type of business. The definition of the term varies by country.
... It is often a business organization which makes goods or services in an
organized manner and sells them to the public for profit. It may also be a
non-profit organization. A company may hire people to be the staff of the
company.”
A type of Business or a business organization marketing goods
and services in an organized manner and sells them to public for profit.
Here Organization and organized manner is our
focal points. Manner depends on company policy. Here Customer Centricity taken
as a company policy. Customer is the
center means organized manner to make it HEART of marketing.
Customer
Value, Happiness, Satisfaction all about Centricity- CUSTOMER FIRST. Drive
traffic, pursuing though buyers journey helping them feel homely and friendly
with brand.
How to make customer Happy, Satisfied through
providing Helping Hearing Pre and after sales services. This is a matter of organizational
policy. Customer Centricity is not a FANCY word to put as a slogan only. Turn
into a customer-centric organizational policy that everybody understands
prioritizing the customer and focuses on this. This is essential for the
long-term success of the business.
C in the middle or center- Customer
the HEART of any Business
A person who buys goods or services from a shop
or business is a customer. Or a person
of a specified kind with whom one has to deal. Customer Service,
Customer Care, Customer Value, Satisfaction, Happiness and so on…
C #3- Communications
The imparting or exchanging of information by speaking,
writing, or using some other medium.
Two way connections- Means of sending or receiving information.
Communication is vain/wires that circulate
electricity/relation inbound and outbound marketing. Combines company Customers
and organizations HR to a common goal. Communication is a system or process to
connect or circulate information.
The six major modes of communication in
marketing include advertising, digital marketing, direct marketing,
personal selling, public relations and sales promotion.
It’s important to communicate the value of any
product or service. But B2B buyers today demand more. Keeping your
customers satisfied with your product or service is non-negotiable.
Statistics &
Facts on Keeping Your Customers Happy
1. It costs 5x
as much to attract a new customer than to keep an existing one. (Source: seohosting.com)
2. 68% leave
brands because they are upset with the treatment they’ve received.
(Source: U.S.
Small Business Administration)
3. On average,
loyal customers are worth up to 10 times as much as their first purchase.
(Source: White
House Office of Consumer Affairs)
4. 48% of
customers who had a negative experience told 10 or more others. (Source:
Harvard Business Review)
People
of all backgrounds have been struggling with the answer to this question
for centuries, and for almost as long, marketing leaders have
been pondering the secret to customer happiness.
Unfortunately, most are still stumped. Keeping your customers
satisfied with your product or service is non-negotiable.
If
customers are unhappy, they won't just leave you, they'll add salt to the
wound, leaving you for one of your competitors, and the last thing any
business needs after a blow to the wallet is a bruised ego.
The
role of marketing today is as much about delighting existing customers as it
is attracting new ones. You want to make sure customers have a great
experience using your product or service so they not only buy again, but
ideally, spread the word through referrals or social media.
4 Keys to Keeping
Customers Happy Through Inbound Marketing
·
Create
Customer-Focused Content. Customer-focused content is one of the most effective
ways of keeping your existing customers happy. ...
·
Build
a Relationship Through Social Media. ...
·
Ask
for Feedback. ...
·
Look
at the Analytics & Track Data.
Customer
Value, Happiness, Satisfaction all about Centricity- CUSTOMER FIRST. Drive
traffic, pursuing though buyers journey helping them feel homely and friendly
with brand.
Ask
yourself: Why are you bringing in customers?
It’s
not for one sale. The first transaction is a start, but what you’re really
acquiring is the opportunity to build long-lasting relationships. That’s why
it’s so important to consider how you’re interacting with your
customers. Business is going concern and building ongoing long-lasting
relationship is above all to be unique in the eyes of customer in all respect.
It will require to way communication to know better about your customers.
Marketers have been thinking about, teaching
and practicing the art of customer relevance since the first peddlers hawked their
wares. Yet each generation of marketers has claimed the invention of
customer-centricity without regard for the fact that relevance is an
evolutionary concept.
The
act of communication is now part of the relevance equation — not just what is
being communicated and where. The marketer’s responsibility to develop and
guide the message has never been more intricate.
The
five stages of customer-centric marketing
The
following five steps form the basis for a customer-centric marketing and
merchandising effort:
Stage
1: Collect
and analyze customer intelligence
Stage
2. Develop
customer requirements
Stage
3. Product
and process development
Stage
4. Message
development and delivery
Stage
5. Feedback
That’s where the Customer Data Platform (CDP)
comes in.
Where
the unique combination of online and offline data collection creates a
non-siloed, single customer view for highly personalized marketing campaigns. With the right tool, the potential is huge: unlocking the
opportunity to drastically improve your customer experience, making it faster,
easier, more consistent, and more convenient for the buyer.
Creating a Customer Lifecycle
Management (CLM) Framework
A customer lifecycle is often used to describe the various stages
a consumer must travel to purchase your product, but to provide a marketing
framework for communication with customers at each touch point in their
interaction with their brands; marketers often employ a Customer
Lifecycle Management (CLM).
Why Customer
Centricity Is the Key to a Competitive Advantage
To develop a booming business in today’s world,
there are many factors that we have to put into place. One of such crucial factors
is the customers. In recent times, we place more emphasis on the customer’s
experience with a personalized and positive brand or business.
Organizational
customer-centric marketing: This time it’s personal
Centricity is about understanding what makes your customers
different and unique. A focus on positive customer
experiences whether it’s discovery, point-of-sale or post-sale communication.
Adds value by enabling differentiation from competitors who do not offer the
same…
Customer Value:
Customer value is the benefits a
customer gets after subtracting all the cost and effort involved to buy the
products/services. Win-Win emotional gain level of customer is the best
value.
What is customer value
and why is it important to customer satisfaction?
Customer satisfaction plays an important role
within your business. Not only is it the leading indicator to measure
customer loyalty, identify unhappy customers, reduce churn and increase
revenue; it is also a key point of differentiation that helps you to attract
new customers in competitive business environments
Retention ≠ Loyalty
Retention does not equal loyalty.
A retained customer is one who continues to buy from your
brand.
A loyal customer prefers to buy from your brand.
They seek you out. They are your brand ambassador.
You can get people to come back and purchase again, thereby
retaining them, but retention is a short-term strategy. It feeds into loyalty
as a long-term strategy, whereby there is almost an emotional connection
between the brand and the buyer.
How
to Create a Culture of Customer Centricity in Your Business
In a customer-centric organization, everybody understands
prioritizing the customer and focuses on this. This is essential for the
long-term success of the business. So, the decision-making and thinking
processes always put the customer at the center to provide a quality
experience. To create that culture
of customer centricity within a
business,
you must create awareness within the employees.
This is what makes the culture stick. Employees are able to uphold
this culture even when no one is watching them. This will make it a part of
them, and they will pass it on to future employees. This will continue until
it’s ingrained in the organization’s culture. To achieve this, here are a few
things you can do:
Make Everybody Work as a
Team
We
cannot overstate this. It takes teamwork to achieve customer-centricity in your
business. If different departments and individuals try to please customers
individually, they won’t go far.
Everybody
has to work together. Every department has to consider the other departments’
work to achieve this goal. Everyone has input in delivering the products or
services to the customer. So everyone has to work as a team, and individuals
while ensuring that the customers remain the priority. This will require more
interaction between the different departments.
Always Promote the Vision
In trying to achieve something like this, you can’t focus on goals
alone. You have to make sure that everyone sees the vision and feel like they
can be a part of it. You must continue to demonstrate this goal and share it
consistently. That’s why it is vital to share. An understanding of the view can
be the driving force that your employees need. It will make them think and act
to promote positive customer
experience.
Provide Training for Customer
Centricity
This is something that they are new to, so you do not expect that
they suddenly become customer-centric. It is a process, and it might require
some time. You must be patient and willing to give that time.
Leadership And Team Alignment
While technology allows us to constantly push
marketing boundaries (marketing automation, customer and behavior analytics,
social media, etc.), it can quickly become overwhelming and costly. On the flip
side, the delayed adoption of marketing technology can cost you customers and
revenue. That’s where leadership comes in. When you make marketing technology
decisions, hire staff and set expectations, think about it as an investment in
growth. With marketing automation, including built-in customer and behavior
analytics tools, marketing now owns a significant part of the customer journey
and can provide strategic insights, such as brand sentiment, buyer intent and
customer satisfaction levels, to sales and customer service. So instead of
treating your marketing as mainly a lead generation machine, use its insights
and capabilities to amplify efforts, iterate and pivot when needed.
Marketing Automation
Technology
It
seems like every day there’s a new marketing tool or platform that promises to
engage your customers like never before and set you apart from your
competitors. Stay focused. Broadly speaking, your marketing technology should
help you to address two needs: customer acquisition and marketing performance
measurement. Customer acquisition encompasses everything from email marketing
to advertising to content marketing, social media and more. In order to know
what works and what doesn’t, you need to be able to track and measure the
performance of each channel and individual campaign. The right marketing
automation tool can help you to do that.
Go-To-Market Strategy
With
the ability to measure everything from customer sentiment to revenue
contribution, marketing is no longer a creative function or an expense.
Marketing is now your growth engine, with a goal to attract the right customers
through the right channels at the right time with the right message. To make
sure marketing serves its purpose, create a go-to-market strategy. Your
strategy should define your target audiences, problem-solution fit and
messaging. It should also outline channels and tactics you’ll use to reach your
buyers and align sales and marketing around your business goals.
The strength and success of your strategy depend on the
data you use and your ability to execute as a team. It all comes together here
— team alignment, technology and leadership. A go-to-market strategy is your
map and framework to address all the moving pieces, including your marketing
investments. There’s a lot more to developing an effective go-to-market
strategy, but the key point here is to show the extent to which marketing today
can inform, guide and help execute your business goals.
Conclusion:
- Uphold the policy of Customer FIRST centricity
- Create a customer centric culture in all level of the
organization
- A focus on positive customer
experiences whether it’s discovery, point-of-sale or post-sale communication.
Hearing back through surveys and feedback.
- It will require customer relevance,
customer value, customer satisfaction and Happiness, CRM, CDP, CLM, Retention
& Loyalty.
- Leadership
And Team Alignment
- Marketing Automation Technology
- Go-To-Market Strategy
References &
Resources:
https://www.forbes.com/sites/forbesbusinesscouncil/2020/11/09/marketings-role-in-building-a-customer-centric-company/
https://www.moengage.com/blog/customer-centricity-is-the-key-to-your-growth-strategy/
https://customerthink.com/4-effective-strategies-to-build-a-customer-centric-culture/
https://exponea.com/blog/customer-centric-marketing/
https://www.paldesk.com/why-customer-centricity-is-the-key-to-a-competitive-advantage/
https://multichannelmerchant.com/marketing/customer-centric-communication/
https://www.eaglesflight.com/blog/how-a-customer-centric-culture-impacts-sales-marketing
https://www.the-future-of-commerce.com/2021/06/30/what-is-customer-centricity-definition/
