Most marketers believe their brands need a customer-centric business model in order to succeed, and that optimising the customer experience is the biggest priority for the profession.
Yet according to new Marketing Week research, structuring a marketing department around the customer journey is currently the least common model of all, with the majority of departments either being product-centric or structured around marketing disciplines.
https://www.marketingweek.com/2018/08/31/future-marketing-organisation-structure/
Brands have more access than ever to the direct feedback of their customers. If you’re smart, you’re using this feedback to guide virtually any decision about your brand strategy. With that said, many marketers wondered: What was IHOP thinking?
Changing its name to “IHOb" was a surprising move that many were quick to criticize. Now that it’s back to its original name, there are a few things marketers can learn from what many deemed a “PR disaster.”
In a customer-centric world, too many brands are afraid to take risks. But IHOP’s bold move represents the smart risks that can actually center the customer’s needs while increasing market share.
https://www.mediapost.com/publications/article/322162/the-customer-centric-risk-you-need-to-take.html/
Preference for digital channels generates massive volumes of big data—much more data than what organizations can collect, correlate and assess. The quantity and speed with which data is generated, as well as the diversity of that data—much of which is unstructured and difficult to analyze—can pose a huge challenge for customer centric players; minimizing their opportunity to take timely action and increase profitable outcomes.
In addition, the rise of mobility and proliferation of communication channels is further complicating the task to manage people and processes required to respond to consumer expectations in a consistent, personalized and contextual manner.
By analysing contemporary text-based channels, such as web chat, email, social media, sms and survey notes organizations can gain deeper insight into process and performance gaps. Text analytics can also help map customer experience issues and opportunities. With the European General Data Protection Regulation (GDPR) coming to play, text analytics can also drive compliance by quickly revealing regulatory breaches and failure to adhere to internal policies.
https://analyticsindiamag.com/text-analytics-is-integral-to-customer-journey-analytics/
The final discipline of growth banking is all about listening and acting on feedback from your customers. This discipline requires an understanding of measure and metrics. It requires a commitment to closed-loop feedback. And it starts with the decision to either build or buy a Voice of the Customer solution for your own organization.
But it's important to note: having customer data and following up with individual customer and employee feedback is not enough to move your overall Net Promoter or Customer Loyalty scores.
Yes, you will be improving the experience for customers who share their insights and experiences with you.
But moving the overall scores will take a keen eye and a lot of analysis of customer insights. You'll need to pinpoint the one thing to do next to improve your business. Whether it's adapting a solution, adding a feature, or emphasizing a capability, it takes systemic changes to impact the experience of customer segments (or for all of your customers).
https://www.peoplemetrics.com/blog/how-to-define-your-priorities-and-build-a-plan-for-customer-centricity/
With online reviews and recommendations becoming more popular, buying decisions are being greatly impacted. Having a customer-centric approach to business is more important now than ever. To be the best, you must have the best customer service. But what does being “customer-centric” actually mean? The American Marketing Association says there are seven pillars of a customer-centric business model, so let’s unpack them.
https://www.forbes.com/sites/forbesagencycouncil/2018/09/25/how-a-customer-centric-approach-will-help-you-win-in-business/#4bc919982ee5/
Being a customer-centric company means more than just offering good customer service.
The best customer-centric companies not only put their customers first – they design products and services to meet the customers’ needs, and create seamless experiences across the board.
Naturally, a lot of brands shout about being customer-focused, but which ones are practicing what they preach? Here are five examples of note.
https://econsultancy.com/examples-customer-centric-companies/
Building customer-centered culture is the key to surviving the modern business environment. The customer’s voice must be built into every meeting, business review and decision. Maintaining a relationship with your customers and monitoring their current needs and concerns through social media as well as more traditional forms of communication is key.
https://www.forbes.com/sites/forbestechcouncil/2018/05/23/customer-first-companies-are-the-future-of-business/#18d8291733c1/
If your website isn’t customer centric, you’re missing out on sales. Customers have a plethora of options online, and if your website fails to meet their standards, you’re not providing a great customer experience. There was a time when customer centric websites weren’t a concern.
You would create a site, launch it and users didn’t mind going through hoops to buy your products or use your service. And then in 2016, just 1% of businesses in the United States said that they were working to give their customers a better experience on their website. If you want to update your website with a focus on being customer centric, you’ll want to follow the tips below:
http://customerthink.com/building-a-customer-centric-website/
Over the past few months I’ve chatted with people from a lot of companies who say their 2019 goal is to become more customer-centric.
In each of those conversations, I emphasize that the most impactful change is creating an environment where all employees, regardless of title, see the customer as their North Star. To catalyze this transformation, customer experience (CX) champions should analyze feedback with empathy, operationalize insights throughout their organizations and foster constant communication about their most important stakeholder: the customer.
https://www.cmswire.com/customer-experience/become-a-customer-experience-champion-and-create-a-team-of-champions-too/
It is not a secret we live in an era full of changes. New technologies are speeding up changes in the customer behavior, and companies have to react quick not only to adapt their selves, but also try to work upfront.
However, the innovation is not new, we as human beings are being evolving since the beginning of our existence in this planet. There is only one different with what we know from innovation in the past, it should be faster, bringing value quicker to the customer. But innovation is nowadays a buzzword, very used is corporate strategy presentations and session. It seems, that this will be the “new trend” to jump into.
There are some good reasons for that, as we live is such dynamic environment (taking into account customers, competitors, new players, technologies, politics) that challenge the status quo is the only way to survive, and then success. Although there are several points to review to fully understand what does this mean, what are the benefits and how to move forward. Historically, innovation is a concept tied to technology or R&D (Research and development), but not really in other fields like marketing, finance or general management.
http://customerthink.com/be-innovator-be-customer-centric/
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