Is the customer always right? No! Is the customer the top priority? Yes! Should the customer be at the center of all organizational strategies? Absolutely! And this is the concept of Customer Centric, the topic of our article today.

According to a study by Infosys, 86% of users cite exclusive and personalized service as a key factor in their purchase decision-making process.

Another survey, by Vonage, shows that 58% of users do not return after a poor experience with a particular company.

But, in addition to being important for the customer, especially, a Customer Centric strategy also improves employee experience and satisfaction.

According to a research by SurveyMonkey, 74% of people who consider their jobs customer-oriented find their work meaningful. Moreover, 83% of people working for companies that prioritize customer satisfaction are almost certain they will still be there in two years.

In other words, companies that put the customer at the center also manage to improve their image and attract the best talent in the market for their job openings.

So, after all, what is Customer Centric?

 

What is Customer Centric?

 

The literal translation of Customer Centric means “centered on the customer,” and it can be defined as an approach that treats the customer as the central element of all company actions.

Businesses that practice Customer Centric centralize their strategic planning around the wants and needs of the customer in order to offer the best experience throughout the entire buying journey, including post-sale.

The main goal of a Customer Centric strategy is to offer the most relevant solutions to the customer, thereby increasing their satisfaction and contributing to greater customer retention and loyalty.

To put this concept into practice, organizations must prioritize the customer at every stage of conversion so they feel comfortable with the brand, generating empathy and admiration.

Customer-centric companies use this approach to optimize and also launch new products and/or services, allowing them to be more assertive in their offers.

 

What are the advantages for companies?

 

We’ve already mentioned some, but you need to know all the advantages of applying a Customer Centric strategy in your business.

 

Cost reduction

A customer-centric company spends less on staff, infrastructure, marketing, and also reduces costs with rework, which often happens when the business doesn’t know or educate their customer.

 

Revenue increase

Satisfied customers buy more and also recommend others who may become clients. This way, your business can create advocates and promoters who will spread the word about your company to more and more people, increasing your revenue.

 

Increased attraction, retention, and loyalty

Acquiring a new customer is much more expensive than retaining an existing one. A company that focuses on the customer can attract people’s attention while retaining and nurturing the customers already in its base.

 

Reduction of churn

Stop losing customers! Put them at the center of all your actions and prevent them from switching to competitors.

 

Optimized service

With the right technologies, such as chatbots and voicebots, companies can collect, store, and analyze customer service data to continuously optimize these processes.

 

Strengthened brand

Put the customer at the center and improve your image, becoming a company that does everything to meet the desires and needs of consumers.

 

Increased competitive advantage

While many companies still focus only on their products and/or services, you can stand out by focusing on customer pain points and preferences.

 

How to apply Customer Centric in your business?

 

Let’s get practical! Here’s how to apply this strategy in your company.

 

Study and understand your customer

The first step is to understand your Ideal Customer Profile (ICP) and define who your buyer personas are. Identify the challenges, wants, and needs of your customers, as well as each step of their buying journey. This way, you’ll be able to offer the right solution, to the right person, at the right time. And yes, we understand that Customer Experience (CX) and Customer Journey (=CJ) are components of Customer Centric.

 

Create a customer-oriented culture

This customer-oriented culture should start with the owner or CEO of the company and the senior management down to the managers, coordinators, analysts, and interns. Everyone should have in mind that the customer is the reason for the business and practice this daily by treating people with empathy and kindness.

 

Invest in service

Offering an omnichannel service, present on multiple platforms where all channels speak the same language, is essential for a Customer Centric strategy. For this, you can rely on service bots like chatbots and voicebots to automate your customer relationship processes.

 

Track performance

A Customer Centric strategy should be revisited regularly. To do this, you can use metrics such as churn rate, Lifetime Value (LTV), and Net Promoter Score.

The Churn Rate measures customer loss compared to acquisition. A high rate is a sign that something is wrong in your operation. Lifetime Value (LTV) identifies how profitable a customer has been for your business over a given period.

And Net Promoter Score (NPS) is a survey that consists of the question: “On a scale of 1 to 10, how likely are you to recommend us to family/friends?”

Scores of 9 to 10 are considered promoters, who will promote your brand, 7 to 8 are neutral, and 1 to 6 are detractors, who will likely spread negative feedback.

That’s it! We’ve reached the end of this article and we hope that with this content, you can apply a Customer Centric strategy to your business and take advantage of all its benefits.

 

Thank you for reading. See you next time!

Also read: Chatbot for WhatsApp: Everything you need to know