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"Client-centricity is the most important factor in a successful business digitalization since client-centric companies are 60% more profitable compared to companies not focused on the customer" - Deloitte, July 2017
Customers and clients (past, present and future) are the driving force of any business, the reason for any business of any nature to thrive. If we don't put them on a pedestal the company is just going to fail and make way for its rivals to march forward. By keeping your customer as your sole focus and using a great CRM as Salesforce gives you advantages like no other. They combine to give you all types of data which if harvested properly and utilised is a gold mine of information to ensure success.
4 ways to becoming a customer-centric business are:
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Customer-centric businesses understand client requirements and use the data to gain valuable insights and share them with other departments.
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Focus on the needs and requirements of the clients thus creating products and services that have a ready market and demand.
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Focus on building relationships with your customer base; convert them into loyal fans and references with great customer service and after-sales support.
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Craft and implement well thought out customer marketing programs at all times
3 ways to measure a business's success as a customer-centric company:
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Analyse the % of loyal customers who remain with the business over time
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Get regular feedback from customers via simple surveys
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Obtain data and analyse on how much each customer is spending with your business. Has it increased? Are they buying varied products and services?
A super example of a customer-centric business is Mcdonalds, the American low-cost fast-food chain. Surveys had shown that customers were looking for healthier meals. The company heard. So they began to make their products healthier. Plus their customer feedback indicated that they would like offerings for breakfasts as well as earlier opening hours. The company obliged. In fact in India too in select outlets, they open early and have a unique breakfast menu such as pancakes and egg mcmuffins.
Another example is the American chain – Trader Joe. Its employees are customer-driven to the extent that they open packets of products to give away as samples to eager prospects. Now, who does that? Well, this company does and to great success. The net result being them scoring the second-highest American Customer Satisfaction Index (ACSI) score.
These are just two examples of customer-centric companies doing well with the primary focus on clients coming first. Many such examples abound all around us, learn from them.
So the mantra to succeed at any cost is simple, keep your clients happy. Engage with them, get their feedback, hear them, give out samples, do surveys, collect data, and be humble. Here is to the success of your business with your new-found strategy on "the customer is king" mantra which should be your mantra always.
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