Customer Centricity
A successful brand assigns certain
weight to manage defectives replacement strategies from its Marketing budgets. Its because they
realize that this cost outweighs the
cost of acquiring new customers . Successful companies spend on
improving customer ownership experience and reap the rewards that come through
reference. Every customer has a LTV (Life Time Value) and successful companies
harness this metric by focusing on customer delight. Along the customer
lifecycle, his experiences with the brand determine whether he would be a
terrorist, indifferent or a fan of the brand.
In today’s world of digital connect, a
dissatisfied customer’s voice is heard louder and can wreck a brand. The dominant sound of that dissatisfaction
stems from lack of or a tepid response to their problems and / or an
ineffective solution provided by the brand.
Today companies are investing in
technology and solutions to proactively engage customers to gain insights and
earn trust. Many CEO are tasking their HR to building a company that is
customer centric.
In the long run building Customer
Centric Organization will be a hygiene, than being a viewed as a key strategic
intervention.
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