Customer centricity is definitely a very big term that has been around for a while but can seem a little foreign to many small and medium size companies.
Here is the thing. If you are people centric and genuinely care about other people as much as you care about yourself (and probably your kids, family, dog, maybe friends?), then you are half way there in having a business that truly delivers a meaningful experience and connects with your customers.
Being customer centric or having a connected marketing approach it’s really about thinking of your audience first, having an ‘outside in’ approach instead of becoming too focused on yourself/your business and ignoring your customers’ needs.
Thinking of your customers first and maximising their lifetime value (we will get into this in a moment don’t panic) really delivers not just long term economic worth in your business but also makes it hard for your customers not to think of you next time.
It’s also clear that by responding to your customers’ needs you’re really elevating your voice in the crowd making it harder for your competitors to replicate the same experience.
Customers are expecting personalised and memorable experiences that make them feel warm and 'almost' excited. Forrester said it right : We are at the age of the customer'. Companies aren't in control as much as they were and customers are in control. Like it or not!
So all of this sounds lovely but is being customer centric better for your business? Hell yeah! A bunch of research proves a more connected relationship with your customers can help with:
1. Customer satisfaction and loyalty - incremental revenue by referrals and recurrent customers
2. Delivering a unique and personal experience – this drives referrals and recurrent business from satisfied customers. 80% of customers agree overall experience is #1 factor in whether they purchase a product or service (Forrester research)
3. Revenue and profitability - maintaining a strong market share and profits. 78% of customers agree that they’d pay more for a product or service if they knew they’d have a positive and unique experience with the brand – Forrester research
4. Leadership - brand positioning that makes you stand out from the crowd
5. Staff retention and culture: a happier team means a happy boss and customers
Not convinced yet? Call me, email me or meet for coffee to understand your business and decide if a more connected marketing strategy is the right fit for you.
Written by Ale Wiecek, Founder, CX & Digital Marketing Strategist at Sqr One