Customer Centricity - you’ve been hearing this phrase for a long time, but what does it actually mean? How does one go about creating a customer centric marketing strategy? Let’s start with a simple definition:
Customer Centric: creating a positive consumer experience at the point of sale and post-sale. A customer-centric approach can add value to a company by enabling it to differentiate itself from competitors who do not offer the same experience.
So customer centricity is all about creating a positive consumer experience, with the goal of getting your customers to keep coming back. While there are many ways to increase the likelihood of a customer coming back again and again, here are three strategies for creating a positive consumer experience.
First and foremost, personalization is key. A good customer centric marketing plan includes personalized touch-points across all channels. Customers expect you to understand who they are and what they’re interested in and show them relevant content accordingly. There has been a shift in expectation from “show me what I purchased” to “show me what I should purchase,” essentially creating a “what’s next?” mentality. In order to this in a, seemingly, effortless way, you need to be able to access your data, aggregate that data, and then leverage it in your marketing efforts. Customer centric marketing may require you to incorporate new technology into your marketing stack that allows you to access your data in an actionable way.
2. KNOW YOUR CUSTOMERS - BE SELECTIVE
Yes, it’s important to give all of your customers attention; however, it’s imperative that you pay attention to high value and future high value customers. If you aren’t already, you should be using CLV to target your best customers, but there’s another segment that you should target just as heavily - future VIPs. Using metrics like future CLV you can hone in on new customers who, if treated right, should turn into high-value customers. Your Future VIPs should be studied and your marketing should include high-value, personalized content to help create a lasting relationship. Figure out what types of promotions and discounts work for this group and look for similarities in things like, demographics, channels they were acquired through and channels they engage with your company through - this will help you create an acquisition strategy for a similar set of people and drive your marketing strategy. Perhaps your future VIPs are heavy on Facebook and Instagram, but don’t open or engage with email - this information will help you figure out where to spend your time and personalization efforts.
3. ASK FOR FEEDBACK AND LISTEN
This seems like a no-brainer; however, time after time, stores get it wrong. To truly get an idea of where you can improve on the customer experience and really create a customer-centric organization, you need to ask your power purchasers about their experience and listen to their feedback. It may not seem like it, but asking customers to take time out of their day to help you improve is a big ask, and acknowledging their feedback and letting them know when you take steps to address their concerns is a great way to improve loyalty. Depending on whether you’re asking your customers to rate products or customer service and website experiences, try experimenting with a rewards program (it never hurts to have a carrot). The important part to remember here, is that when you do make changes based on feedback from your customers, you let them know. A simple email letting them know “here’s what we’re changing and why” is a great way to show you care about and value their opinion.
At the heart of it - customer centric marketing is all about keeping the customer in mind at every stage of decision making within your organization. From pricing, to promotions, to marketing campaigns and strategies - if you’re not keeping your customers at the forefront, you’re going to have some unhappy customers. Learn more about how predictive marketing can help you create a customer centric strategy here.