There is nothing new about customer-centric organizations. This is because ever since the creation of the Customer Lifetime Management CRM technology or CLM CRM software, the thought that all product decisions should be related back to the customer is like a no-brainer. Nevertheless, this idea feels as vague and unappreciated as ever, as most of us just offer mere lip service to it but do not always honor what we preach.When you create a customer-focused company, you create products or services that your customer enjoys and so wants to repeat that experience again. - Nucleus Research Click To Tweet
Therefore, it is high time that we must begin thinking of customer-centricity as an objective and not just a principle and better use CLM CRM to enhance the customer lifetime with your brands.
What is CLM in a CRM?
Plainly speaking by the books Customer Lifecycle in Customer Relationship Management (CRM) is a term used that describes the succession of steps a customer goes through when taking into consideration, buying, using, and thereafter upholding their loyalty to a company’s products or services.
Hence, although you and your employees are always pushing yourselves hard to satisfy your customer’s needs, nevertheless being customer-centric requires taking actions, rather than simply making a desire to appear conscientious.
Why is customer-centricity so important?
Keeping buzzwords and business jargon aside, irrespective of whether you are a user of CLM CRM, customer-centricity makes sense in this present digital world.
According to Bill Macaitis, CMO/CRO of Slack:
“The voice of the customer so far has never so strong as it has been now with the growth of social….businesses are increasingly acknowledging the power of word-of-mouth marketing strategies today, and how that starts and ends by providing a great experience for the customers. ”
But how does this translate in the scenarios of our real world? Let us look at the plea from Randy Garutti CEO of Shake Shack to his employees:
“I would like to challenge you to put our company out of its business…because we are so damn generous with what we offer the people who walk in through this door.”
Therefore, his words illustrate a bigger effort to empower his staff to do whatever it takes to build optimal customer experience. Rather it is just not, giving a ladle of custard to an unruly crying kid.
Hence, the big picture is when you create a customer-focused company, you create products or services that your customer enjoys and so wants to repeat that experience again. Customer centricity, therefore, looks at the lifetime value of the customer using different metrics found in CLM CRM, which increases customer satisfaction and reduces churn rate over a period of time.
Common pitfalls of customer-centricity
Now, if acting customer-centric is so easy and understandable, why then it is so challenging?
There are three major challenges in being customer-centric that Forrester sited in their Vendor Landscape report (2015):
Lack of clarity: Not all in an organization understands the definition of the experience that their company is willing to deliver to its customers.
Failure to affect company culture: No organization can implement a customer-centric culture in an organization without embedding it in all parts of the establishment.
Loss of interest: Cultural transformation is not the end goal; rather employees need to practice customer-centricity with unsuppressed intentions and focus that should be a perennial process and not just as a temporary fad.
The biggest issue with customer-centricity is that cannot be classified as a singular project. Since being customer-centric is a collection of all the actions and activities that an organization performs- right from mundane everyday decisions to company-wide initiatives.
How can you implement a customer-centric strategy?
Therefore how can you make the practices in your business reflect all about the customer in this consumer-obsessed market?
So underneath are a few researched tips to make your business more customer-oriented in this present world:
You cannot fake caring about your customers; you need to employ passionate and genuine employees who want to view your business through your customer’s eyes. For this, you need to make your company’s core value the heart of any onboarding practice, and continually support your commitment to these tenets.
It is important that you must always measure the success of your customer-centric in order to practice what you are preaching to your employees in your organization. Using a CLM CRM software platform, you can gauge your rate of churn and even NPS (Net Promotion Score) as a baseline.
NPS is calculated and measured in one simple and straightforward question: Would you recommend this company to a relative or friend?
Once you are gauging your customer’s experience and going after your customer’s ever-changing desires and needs, let that feedback lead to real changes in your products, services, and your company.
Businesses are not going to shut down this customer-centric trend anytime soon, so what does that signify for consumers and their competitors?
Well, it implies more of digital marketing (including interactive materials like blogs, newsletters, eBooks, and videos), and automated marketing, with the help of business growth technology like CLM CRM software solutions, which can be even found in best small and medium business CRM software platforms for SMBs.