Customer-Centric Model: A Step-By-Step Guide
More and more businesses are honing in on a customer-centric approach. There even exists a model for defining and planning a company’s customer centricity.
A customer-centric business model can enhance customer satisfaction, retain customers, bring in new ones, and boost sales.
With customer centricity, you begin by understanding your customer’s needs, desires, and expectations, and then frame your products, services, and campaigns to suit your customers’ needs.Â
In this blog post, we’ll explain:
- The customer-centric business model
- The importance of incorporating customer centricity into your business processes
- The steps to make your business customer centric
- How to measure and quantify customer centricity
- What Does It Mean to Be Customer Centric?
- The Customer-Centric Model
- Leadership
- Strategy
- Processes
- People
- Platforms
- Why Is Customer Centricity Important?
- Increased Customer Loyalty and Potentially New Customers
- Higher Chances of Sales
- Unhappy Customers Rarely Talk about Their Dissatisfaction
- It Costs More Money to Chase Leads
- You Could Earn More Profits
- How Do You Build a Customer-Centric Business Model?
- Focus on Customer Marketing
- Start a Compensation Program
- Start Hiring More Customer-Centric Employees
- Tap into Customer Empathy
- Customer-Centric vs Product-Centric: Understanding the Differences
- Your Approach Is Flexible
- Your Process Are Streamlined
- How Do You Measure Customer Centricity?
- Net Promoter Score
- Customer Satisfaction
- Purchase Likelihood
- Customer Lifetime Value
- Churn Rate
- Customer Lifetime Duration
- Conclusion