Are you aware that the Indonesian economy is heavily influenced by consumers?
Customers currently have an increasingly important role in defining the direction and profitability of businesses in a largely consumer-driven economy. As a result, focusing on consumer needs and satisfaction is critical to success in a highly competitive business environment. Under these conditions, business owners have no alternative but to focus their efforts on their customers.
Customer centricity, also known as customer focus, is an important concept for businesses because of its capacity to distinguish a company from its competitors by offering greater service quality. This is why being customer-focused is essential.
Research by Deloitte and Touche also shows how crucial customer focus is. Results of this research show that companies which are truly customer-oriented achieve approximately 60% higher profits than companies that do not prioritize customers. This confirms that customer centricity is more than just a concept; it can leave a significant impact on a company’s profitability.
By understanding and applying the principles of customer centricity, we can strengthen relationships with customers, increase their loyalty, and ultimately achieve sustainable growth in our businesses.
Read this article to understand more about the value of customer centricity!
Read more about the significance of client-centricity in marketing strategies here.
What is Customer Centricity?
Customer Centricity or Customer-centric marketing is a marketing strategy that prioritizes customers in every aspect of company operations. This means that all parts of the business, from products and services to customer interactions, are created and directed to suit the needs and wants of the consumer.
A customer-centric strategy is more than just selling products or services. This strategy focuses on providing an exceptional customer experience in order to foster strong client loyalty. When clients are satisfied with the services they receive, they tend to become loyal customers, which can contribute greatly to the company’s long-term success.
Apart from building loyalty, being customer-centric also emphasizes the importance of understanding customers in-depth to develop relevant solutions. With a strong understanding of customer expectations, hopes, and perceptions of the business, a customer-centric strategy becomes more effective in responding to customer needs. This not only helps in building sustainable relationships with customers but also increases a company’s chances of thriving and expanding in an increasingly competitive market.
What are the Benefits of a Customer-Centric Strategy?
A customer-centric strategy has numerous significant benefits. According to Liveworkstudio, there are five primary advantages of this approach:
Focusing on customers can increase sales
In implementing a customer centric strategy, supporting customers in decision-making is a key step to increasing sales. Customers often feel confused when viewing products or services, which can jeopardize their confidence in making the right decisions. By committing to a customer-oriented approach, businesses can learn how to give customers the support they need to make the best decisions for themselves.
Improve operational efficiency through customer collaboration
Collaboration with customers enables businesses to create more effective offerings. Customers can provide useful feedback on how to enhance customer service processes, eliminate bottlenecks, and increase efficiency. Businesses can also streamline operations and reduce the time required to resolve consumer issues or transactions by being very familiar with their customers’ experiences. Overall, this fosters smoother and more efficient operational activities.
Provide relevant offerings in response to changing needs
Businesses which implement a customer-centric strategy actively communicate with customers to learn about the changes in their lives or learn how customers perceive their companies or brands. There could be changes in the needs, preferences, or financial situations of customers. With a better understanding of these changes, businesses can offer more tailored solutions.
A customer-centric business will actively provide support and guidance to customers who are facing important transitions. For example, if a customer moves to a new location, the business can provide information about services available in the area or provide assistance with the moving process.
Makes it easier to evaluate business performance and understand why customers leave
Understanding why clients leave your business will help you keep other customers in the future. Understanding the reasons for customer leaving has significant benefits for both the company and the customers. With this information, you can identify areas for improvement, and customers will see that you are dedicated to resolving those issues, which may cause them to reconsider doing business with you in the future.
Ease of understanding the customer journey at the pre-sales, sales, and post-sales stages
With a customer-centric strategy, it is easy to comprehend how clients interact with a business at different points, from the consideration stage to the completion of a purchase. This includes understanding customers’ changing needs throughout the journey, especially as they move from one stage to another. This understanding has a crucial role in achieving successful transactions or potential transactions in the future.
Tips for Becoming a Customer-Centric Business
Becoming a customer-centric business is the main goal of all businesses. However, it is not uncommon for businesses to struggle to implement this strategy. According to Eva Noor, Chair of the ICXP Supervisory Board, there are 3 important tips for implementing a successful customer-centric approach for your business:
Make customer centricity a part of your company’s DNA
It is critical to understand that being customer-centric is not a one-time event. Instead, it should become a part of your company’s DNA. This means that all parts of the business, from product development to customer service, must always consider the demands and interests of the clients or customers. By establishing these principles in your company operations, , you will ensure that client orientation is deeply rooted in your corporate culture.
Provide full management support
It is critical that your company’s upper management members completely supports the idea of being customer-centric. They must recognize the value of being client-focused to achieving long-term success. Top management support not only stimulates all levels of the business to take the same route, but it also allows for optimal resource allocation for customer-centric initiatives. This will help ensure that customer-centric practices are actually adopted throughout the organization.
Prepare trained and skilled talent
Lastly, having talent that is in line with customer-centric principles is another key to success. Training and development of employees in terms of communicating and responding to customer needs is non-negotiable. Businesses need to build a team which is able to listen to customers, identify their problems, and provide relevant and quality solutions. That way, customers will feel appreciated and satisfied, which in turn will increase their loyalty to your business.
Of course, adopting these three tips along with the support of tools that can enhance extraordinary customer experiences, such as Omnichannel Chat, will be a very effective step!
Let’s Implement a Customer-Centric Strategy with Qiscus Omnichannel Chat!
With the Qiscus Omnichannel platform, businesses can integrate all communication platforms which can help businesses in every stage of the customer journey to become a more customer-centric enterprise!
Utilize the Qiscus Omnichannel Platform to understand your customers’ interactions and actions in relation to the sales stage before, throughout, and after!
Become a customer-centric business and ask for a Qiscus Omnichannel Platform Demo now! Contact us here