These points will stand out naturally in a company with a so-called customer centred culture.<\/p>\n
![\"Product](\"https:\/\/skeepers.io\/app\/uploads\/2022\/10\/product-centric-vs-customer-centric.jpg\")
<\/p>\n
Customers are not Equally Valuable<\/h2>\n
Being customer centric also means knowing how to focus your efforts on high-value customer segments. Companies sometimes rush to meet impossible customer demands, which is a common mistake. If you make decisions with your customers in mind, then the return on investment should be positive.<\/p>\n
There is no such thing as an \u201caverage\u201d customer. Most of your customers end up not being very profitable. It doesn\u2019t make sense to build your business around them. Focus on your best customers instead.<\/p>\n
Being customer centric means:<\/h3>\n\n- Using customer data to better understand and segment your customer base.<\/li>\n
- Identifying the best customers.<\/li>\n
- Focusing on products and services for your best customers.<\/li>\n
- Using the Customer Lifetime Value<\/a> to segment customers.<\/li>\n<\/ul>\n
![\"life](\"https:\/\/skeepers.io\/app\/uploads\/2022\/10\/life-time-valueltv-calculate.jpg\")
<\/p>\n
Being customer centric doesn\u2019t mean:<\/h3>\n\n- Focusing on the “average” customer.<\/li>\n
- Seducing and retaining low quality customers.<\/li>\n
- Under-investing in high quality customer acquisition.<\/li>\n
- Being customer centric is the best way to boost your business. Let\u2019s explore the benefits of transitioning towards a customer oriented culture.<\/li>\n<\/ul>\n
What are the Benefits of Being Customer Centric?<\/h2>\n
The first benefit, that will no doubt catch your managers\u2019 attention, is that being customer centric is profitable.<\/p>\n
“Companies that improve their ability to consistently meet their customers\u2019 needs will produce positive bottom-line results.\u201d Mikel Harry and Richard Schroeder, Six Sigma.<\/p><\/blockquote>\n
The financial perspective is a direct benefit that kicks in as soon as your customer approach becomes more pertinent.<\/p>\n
A business plan includes a detailed description of the company\u2019s mission, the products and services they will offer, and how they plan on being profitable. So much so that some companies become too focused on their own inner workings. They ignore their customers\u2019 desires and needs and become disconnected from the outside world. In which case, they will never achieve their theoretical profitability.<\/p>\n
A customer centric strategy helps to avoid this.<\/p>\n
Being Customer Centric Helps to Easily Recognise Opportunities for Growth<\/h3>\n
Opportunities for growth are much easier to identify when they come from your customers. When faced with dissatisfied customers, most companies try to justify themselves or to apologise. But they are missing out on a new business opportunity.<\/p>\n
For example, an electronics company that regularly surveys its customers may find that the majority are women; and they prefer to have help installing equipment in their homes. This could lead the company to expand its business and offer home installation.<\/p>\n
To better understand your customers\u2019 dissatisfaction, it is important to look beyond any reasons you think you know, or assumptions.<\/p>\n
<\/p>\n
Being customer centric doesn\u2019t mean:<\/h3>\n\n- Focusing on the “average” customer.<\/li>\n
- Seducing and retaining low quality customers.<\/li>\n
- Under-investing in high quality customer acquisition.<\/li>\n
- Being customer centric is the best way to boost your business. Let\u2019s explore the benefits of transitioning towards a customer oriented culture.<\/li>\n<\/ul>\n
What are the Benefits of Being Customer Centric?<\/h2>\n
The first benefit, that will no doubt catch your managers\u2019 attention, is that being customer centric is profitable.<\/p>\n
“Companies that improve their ability to consistently meet their customers\u2019 needs will produce positive bottom-line results.\u201d Mikel Harry and Richard Schroeder, Six Sigma.<\/p><\/blockquote>\n
The financial perspective is a direct benefit that kicks in as soon as your customer approach becomes more pertinent.<\/p>\n
A business plan includes a detailed description of the company\u2019s mission, the products and services they will offer, and how they plan on being profitable. So much so that some companies become too focused on their own inner workings. They ignore their customers\u2019 desires and needs and become disconnected from the outside world. In which case, they will never achieve their theoretical profitability.<\/p>\n
A customer centric strategy helps to avoid this.<\/p>\n
Being Customer Centric Helps to Easily Recognise Opportunities for Growth<\/h3>\n
Opportunities for growth are much easier to identify when they come from your customers. When faced with dissatisfied customers, most companies try to justify themselves or to apologise. But they are missing out on a new business opportunity.<\/p>\n
For example, an electronics company that regularly surveys its customers may find that the majority are women; and they prefer to have help installing equipment in their homes. This could lead the company to expand its business and offer home installation.<\/p>\n
To better understand your customers\u2019 dissatisfaction, it is important to look beyond any reasons you think you know, or assumptions.<\/p>\n
What are the Benefits of Being Customer Centric?<\/h2>\n
The first benefit, that will no doubt catch your managers\u2019 attention, is that being customer centric is profitable.<\/p>\n
“Companies that improve their ability to consistently meet their customers\u2019 needs will produce positive bottom-line results.\u201d Mikel Harry and Richard Schroeder, Six Sigma.<\/p><\/blockquote>\n
The financial perspective is a direct benefit that kicks in as soon as your customer approach becomes more pertinent.<\/p>\n
A business plan includes a detailed description of the company\u2019s mission, the products and services they will offer, and how they plan on being profitable. So much so that some companies become too focused on their own inner workings. They ignore their customers\u2019 desires and needs and become disconnected from the outside world. In which case, they will never achieve their theoretical profitability.<\/p>\n
A customer centric strategy helps to avoid this.<\/p>\n
Being Customer Centric Helps to Easily Recognise Opportunities for Growth<\/h3>\n
Opportunities for growth are much easier to identify when they come from your customers. When faced with dissatisfied customers, most companies try to justify themselves or to apologise. But they are missing out on a new business opportunity.<\/p>\n
For example, an electronics company that regularly surveys its customers may find that the majority are women; and they prefer to have help installing equipment in their homes. This could lead the company to expand its business and offer home installation.<\/p>\n
To better understand your customers\u2019 dissatisfaction, it is important to look beyond any reasons you think you know, or assumptions.<\/p>\n
![\"Using](\"https:\/\/skeepers.io\/app\/uploads\/2022\/10\/open-question-customer-centric.jpeg\")
<\/p>\n![\"CSAT](\"https:\/\/skeepers.io\/app\/uploads\/2022\/10\/csat-questions-customer-centric.jpeg\")
<\/p>\n![\"Download](\"https:\/\/skeepers.io\/app\/uploads\/2022\/10\/1b934049-eab8-4e99-b0e8-4e07b4645079.png\")
<\/a><\/span>