Customer Centricity
The expectations of our customers should not only be met, but exceeded. This is how customers become market leaders and innovators. To achieve this, customer centricity must be anchored throughout the company. Because it is a holistic approach that aims to develop a deep understanding of our customers and maximize their satisfaction, loyalty and value for the company. This is essential for all companies — from B2C to B2B, from start-ups to established market leaders.
Why do companies need customer centricity?
Individuality
Customers can receive individualized and personalized products within a very short time, can order them around the clock and benefit from high-quality and personal customer service.
They not only require this service in eCommerce, but also from all other companies, both in B2C and B2B.
Competitiveness
In order to remain competitive in the long term, companies must therefore focus much more on their customers than they did just a few years ago. Customer centricity is not just a department or a project, but a comprehensive approach that is much more than customer service, the marketing and concerns product development.
360° view of customers
Customer centricity is closely linked to data. Finally, customer centricity can be measured and improved through data. A 360° view of the customer, their needs and also their approvals and touchpoints is only possible through correct and comprehensive data measurement.
Increase sales
Increasing customer lifecycle value means more revenue and, at the same time, lower costs for acquiring new customers. A McKinsey study from 2021 shows that 71% of customers expect companies to offer personalized interactions and prefer to shop here.
This is how we go about establishing customer centricity
Understanding the needs of customers, adapting products and then developing excellent customer service — we are with our customers in all these steps.
Data and customer centricity audit
As a first step, we at The Data Institute like to look at how the company is set up. Which data about customers is collected and where? How are these further processed and to what extent do the different departments have access to them? The result of Audits Is not only a clear overview of customer centricity and the status of data, but also the uncovering of low hanging fruits and initial use cases, on the basis of which cooperation can be further developed.
Understanding customer needs
The next step is to comprehensively understand the needs of customers. This includes not only creating data-driven personas, but also setting up a long-term and continuous measurement, as well as precise market research and the use of external data. This often results in further work results, such as designing a clear vision, mission and formulating the company's USPs — tailored to the needs of customers. Even though these things already exist, it is fruitful to question them again and again and adapt them to the current status of society.
Tailor products and services to meet your needs
The previously identified customer needs should now be applied to the products and services. Here too, data provides tremendous support, which allows the success of these measures to be measured and iteratively adjusted.
Hear and implement the voice of customer and establish customer centricity in the culture
The measurement, which was previously used more selectively to understand customer needs, should become an essential and integral part of corporate communication. By establishing a customer data platform (CDP for short), customers can be addressed and targeted in line with their customer lifecycle, suitable products and added value can be played to them, which makes them long-term and happy existing customers.
This also includes cultural change and the breaking up of silos. The customer is placed at the center of the company and should remain there. The Data Institute supports measures to integrate this mindset into all departments.
Develop customer service
In order to develop excellent customer service, it makes sense to use various tools and solutions. This starts with the connection of the customer data platform with the customer relationship management system and ends with the use of artificial intelligence to make customer service available around the clock.
The result is personalized service that is fast and is constantly being improved — through measurements, analyses and innovations.
Customer centricity in our framework
We always work with the organization, culture, and architecture framework.
In our opinion, these 3 areas are the most important factors for successfully anchoring data in the company in the long term.
Customer centricity is also about these three areas. The organization affects the measurement of customer behavior and the development of personalized addresses that architecture forms the basis for this through tools and processes and the Culture when focusing on customer centricity, must adapt to his — across the entire company.
The Data Institute — the strong partner in the use of customer centricity
We want all companies to act in a customer-focused manner and focus on the needs of customers. To do this, we work with company data and external data and combine this with our many years of expertise in the field of customer centricity. In this way, we can enable the company to work independently and on these issues over the long term.
What is a data audit anyway?
Customer centricity is a strategic approach that places customer needs and expectations at the center of all business decisions and activities. This concept goes beyond traditional customer service and refers to a holistic business orientation aimed at developing a deep understanding of customers and maximizing their satisfaction, loyalty, and ultimately their value to the company. In a customer-focused culture, every decision, from product development to marketing strategies to sales and support, is made with added value for the customer in mind. Companies that successfully implement customer-centricity use both their structured data and analyses from these but also integrate external data and market research reports.
For this purpose, customer feedback is measured across the entire customer lifecycle to continuously improve offers and services and tailor them individually to customer need´s. This not only leads to higher customer satisfaction an loyalty but can also provide a significant competitive advantage and sustainable growth for the company
Who needs customer centricity?
Customer centricity is relevant for almost every company, regardless of its size, industry or market.
This is not just about B2C companies, but also B2B companies, because they too want the customer focus that they know as end users.
Customer centricity must be anchored throughout the company and become part of the culture in order to be successful in the long term.
The services provided by The Data Institute are aimed primarily at companies from the following industries media, logistics, Retail and finances, but also on eCommerce companies that want support in complying with guidelines and using data effectively.
Who is involved in customer centricity?
Customer centricity affects all people who work in the company. The customer-centric culture should, of course, be integrated from the point of view of corporate management, which acts as an example and plays a decisive role in strategic definition.
marketing, Sales, Customer Service, Support, and Product Development are other areas where customer-centered orientation is more than important, because they have direct contact with customers.
But HR, Finance, R&D, and Quality Assurance should always have a customer-oriented view of products, employees and investments.
Case studies on the subjectCustomer Centricity
You can find suitable examples of our work on this topic in the following case studies:
Knowledge zum ThemaCustomer Centricity
Neben Case Studies haben wir auch verschiedene weiterführende Blog Artikel zu dem Thema:
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