Anyone can easily differentiate between a customer-centric company and a non-customer-centric company. Isn’t differentiating between the two is easy? Of course, it is! Because when the revenues or ROI of a customer-centric company and a non-customer-centric company are compared, a huge difference can be noticed. Also, the reach and the brand image/establishment are something different.
Around 60% more profit is experienced by customer-centric companies. These companies are all about their customers. They make their every decision and strategize their plans according to their customer’s minds. Almost every company claims to be customer-centric, but they don’t have the same approach of what they claim. It is easy to identify a customer-centric company with its obvious actions like interacting with the customers, nurturing them, and so on. Here are the five vital things that customer-centric companies do differently:
- An Executive Buy-in:
Customer-centricity starts at the top with leaders who understand and care about customers. When the CEO values customers more than profits, the attitude extends to the entire company. One of the biggest roadblocks for CX professionals and change agents is getting leaders on board, especially when they can’t see the immediate financial impact of investing in customer experience. But customer-centric companies have CEOs who understand the need to build out strong experience programs and put customers first. Executive buy-in makes it easier to institute customer experience initiatives. Not only that, but it leads to greater revenue success. 64% of companies with a customer-focused CEO are more profitable than their competitors.
- Culture of Customer Obsession:
What starts at the top with executive buy-in then has to spread to the rest of the company to create a culture of customer obsession. Leaders set the attitude for the organization. When they prioritize customers above profits, so will employees at all levels. In a truly customer-centric culture, every employee knows how their work impacts customers, no matter their seniority or responsibilities. They see the value of what they do on the overall customer experience and are empowered and engaged to serve customers as best they can.
- Feedback:
Customer-centricity is a two-way street. A company can’t just say they know what’s best for customers without communicating with them regularly. Customer-centric companies not only understand the importance of feedback, but they also make feedback loops valuable parts of their processes and apply customer feedback to improve their products and service.
- Offering and Innovating Digital Solution:
The trends and the needs of the customers are always changing and so does the scenario of the market. A customer-centric company makes sure that they live up to the expectations of their customers and offer what is required.
- Personalized Service:
Customer-centric companies understand their customers, both individually and as a whole. They don’t use a one-size-fits-all approach but instead find ways to personalize the experience to each person, including things like connected contact centers so customers don’t have to repeat themselves, personalized recommendations, and individual relationships.
Truly customer-centric companies put their heart out and make sure that their customer is not suffered in any way possible. This is what makes a company customer-centric and also establishes goodwill because they making happy what make and runs their business!