How To Measure Company Performance On Customer Centricity? - Antlere

How To Measure Company Performance On Customer Centricity?

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How To Measure Company Performance On Customer Centricity?

It is often said that “the customer is always right”

Generally, it always meant that business should strive to fulfill the wants and needs of their customer. No demands should be left unfulfilled.

But, now this concept has grown.

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While the essence of it remains the same, it has now expanded to include the entire organizational workings and is not just limited to sales, marketing or retailing departments.

Organizations are focused towards satisfying the needs of their customers. The focus has shifted at ‘delighting’ and ‘exciting’ the customers instead of merely ‘satisfying’ their needs. It not only gives the brand a competitive edge but also ensures brand loyalty.

Customer focus or customer-centered organizations capture greater market share due to their loyal and repeat customer base, who then become their brand ambassadors. Word-of Mouth plays a vital role in their success. Customer emotions for such organizations are really intimate. They feel welcomed by the organization when their needs are met, their requirements are fulfilled, their suggestions are implemented and their complaints are rectified.

Customer centered organizations also have greater revenue growth. Management Key Performance Indicators (KPIs) like Net Promoter Score (NPS®), Customer Effort Score (CES) and Customer Satisfaction (CSat) score are some of the most used metrics. All of them aim towards quantifying the emotional experience of customers. Studies have linked positive scores with exponential business growth.

It makes sense.

It is obvious.

With an increased customer base, that is loyal to your brand and is willing to advocate your product, you are bound to gradually increase your brand value.

However, it’s not just not about brand loyalty and customer satisfaction.

Having a great product/service is a definite prerequisite. A good product sells itself. No one can complain about it. Competitors can’t replicate it. Fewer rejections mean less manufacturing costs. Fewer resources are required to rectify post-sale issues. An overall win-win situation.

A customer centered company has to have a market leader status.

House of Quality.

It is not arbitrary.

For becoming ‘customer centered’ or to have a great product, all the process/production parameters have to be designed right from the very beginning to be in line with the customers. It becomes vital to know your market, your customer base, your competition and your environment.

Then all of this is to superimposed with actual customer wants/needs. Afterwards all the organizational stakeholders need to sit together, communicate openly and collaborate closely to come up with all the product/process design parameters so that each and every department/production step is focusing on achieving some customer need. This is called a House of Quality. This should be your goal.

This requires commitment

But, only an organization so deeply involved with customer centrality can start generating enough customer loyalty to result in revenue growth. So start the right way from the beginning.

There are many metrics and market trends to gauge a company’s’ performance. However, understanding the concept and need of ‘customer centrality’ is very important.

Only when ‘customer is the king’ will “you be the king”

Remember that!

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Antlere
Antlere
Antlere is a state-of-the-art Customer Experience Management Platform that allows businesses to Measure Customer Experience, Gain Actionable Insights and Engage with Customers to foster better relationship. (Get Free Demo) (Contact us)

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