Customer centricity is a revolutionary approach to business that companies are using to huge amounts of success. Although the ideology of creating positive experiences for customers can seem like a self-fulfilling prophecy, it is no secret that not all businesses understand how best to embrace customer centric values.
Consequently, if you are in the process of transitioning from a product centric approach to a more customer focused system there is a chance that you might encounter some pitfalls. So, to help your business on its journey to becoming more customer centric, let us discover 3 common mistakes and discuss what can be done to avoid them.
Neglecting Your Existing Customers
Although it is undeniable that acquiring new customers is always going to be crucial for companies that rely on recurring revenue business models for growth, this does not mean that you can afford to forget about your existing customers. Embracing a customer centric approach is all about remembering that every single one of your customers is invaluable. Retaining your existing customers generally costs less than gaining new ones and therefore it is important to invest time and energy into maintaining positive relationships with them.
Communicating with your customers is as easy as asking them what other products and services they would like to see from your company. Through interacting with your customers frequently and on a regular basis, you can even find new ways to improve your products and services. Developing a robust onboarding process can also make soliciting feedback from your best customers that little bit easier. By paying attention to your customers, when the time comes for renewal, provided that you have been able to add value, you should begin to cultivate a community of dedicated and repeat customers.
Not Investing in a CRM Platform
Indisputably, a customer relationship management system is essential for providing the key analytics that support customer centricity. In summary, CRM software can improve customer relations by creating a detailed overview of your customers. An effective CRM should be able to capture any interactions with your business so that you can use this information to have better conversations with your customers. Moreover, integrated CRM platforms like Salesforce can give all of your departments including marketing, sales, commerce, and services, a profiled analysis of every customer.
In terms of customer centricity, using a CRM platform can ensure all of your employees are aware of key principles such as the actual definition of a customer and this ensures that these values are upheld at all levels of the business. Tracking customers through touchpoints such as phone numbers, credit card transactions, mobile app hits, loyalty program membership, browser cookies, and other device IDs is much more easy to manage via an integrated CRM platform, and therefore if your company is committed to customer centricity, CRM platforms can massively enhance productivity. Just be sure to do plenty of research to find the best CRM system for your customer centric business strategy.
Failing to Embrace Feedback
When dealing with large numbers of customers it can be all too easy to forget that an actual human being with needs and feelings is responsible for purchasing your products and services. Consequently, if you do not solicit feedback from your customers, there is a high chance that you could be missing out on opportunities to improve your output. We all understand how frustrating it can be when something does not quite go to plan, but there are always solutions out there, and quite often your customers are the best people to find them.
In the digital era, accessibility is everything. Ensure that your social media profiles and website contain visible contact details so that customers can get in touch with your customer service team quickly and easily. Monitoring your customer feedback and commentary allows you to troubleshoot any recurrent issues so that you can obtain valuable insights. Correspondingly, understanding what your customers need allows you to understand the emotional connection they have with your products and services and this information can be used to ensure that your company continues to add value to their lives.
Ultimately, at first, adapting to a customer centric approach can seem daunting. However, by avoiding common mistakes, your company can reap the rewards of embracing new perspectives and providing excellent customer experiences.
Using a CRM platform can be hugely beneficial when shifting to a more customer centric business ideology. For more information, check out this useful guide to business CRM systems.