Are You Customer Centric?
Research indicates that when polled, 80% of your customers will respond that they are very satisfied with your products/company. Makes you feel great, right? Don't be fooled by the common misperception that these customers are indeed loyal and plan to repurchase products, or endorse them to their peers & colleagues. The answers to these two questions are the real drivers of customer-centricity & loyalty.
How Can You Drive Customer-Centricity?
- Analyze Data - work with I/T to get historical purchasing information, segment your customer-base, discover trends, analyze retention rates, assess geographic market penetration, and ultimately build your set of CRM metrics.
- Observe - develop marketing analytics processes related to website activity, customer behavior, predictive modeling, forecasting, and campaign ROI.
- Gather Feedback - conduct an annual Customer Satisfaction Survey.
- Profile - help your staff understand Market Segments and Customer Profiles by working with customers to create Case Studies and generate testimonials.
- Understand - as markets continuously evolve, redefine your target markets by reading our report and conducting a Market Segmentation, Targeting, & Positioning initiative.
- Plan Interactions - some accounts are more strategic than others. For those of paramount importance, implement a Key Account Planning process.
- Listen - consider adding a customer-facing Blog to your corporate website. Blogs are very effective for generating feedback on products and services.
- Consult - work with Sales to adopt a more Consultative Sales approach.
Action Plan:
- Work from a Checklist - download Demand Metric's Customer-Centricity Checklist to kick-start your initiative. There are 12 proven strategies with associated reports, tools, and advice to help you improve customer loyalty, and increase profitability based on higher retention rates.
