on ceo Jur,
In the words of Sam Walton, founder of Wal-Mart: “There is only one boss—the customer. And by spending his money elsewhere, he can fire everyone in the company from the chairman down.
In the wholesale world, we are always We are working to drive innovation in serving our customers so that both brands and retailers can optimize processes and maximize their business. Even beyond wholesale, it is important to be a customer-centric organization, to achieve long-term growth and success through dedicated customers. Although some companies continually work to measure customer satisfaction and gather feedback whenever possible, this may not come naturally to everyone, and it can be a challenge to implement. This challenge may be even more complex for international companies. In fact, Accenture released a survey of 25,000 global consumers and 60% of those surveyed said their preferences were changing based on global events.
It’s useful to look at this from a 20,000-foot view and then consider the step-by-step process.
A customer-centric mindset starts with company culture. Leaders need to show that they are open to improvement and that no one knows everything. It is not easy to bear criticism, but they should think long term. Just like you want your customers to become loyal for life, you want your employees to know that their opinions are valued, and then they’ll be more likely to stay in your organization and become productive contributors.
It’s also important to put yourself in your customer’s shoes. According to PwC, only 38% of American consumers say that the employees with whom they interact understand their needs. This is why many people are not loyal to the brand. Economically, this is something we cannot ignore. You’ve probably heard that it costs much more to acquire new customers than it does to retain existing ones.
To standardize the process of understanding the customer, some companies create personas that summarize the typical profiles of the largest segment of their audience. This is one way, but at the very least, it is essential to have a feedback loop to be able to present a comprehensive picture of who is using your product and how.
So what does it look like day to day? There are many tools that will go a long way in achieving the goal of becoming customer-centric. Some companies have every employee at every level take turns at the customer service desk to see what customers really care about and learn the best ways to address said issues. This may not be possible in larger organizations, but there are other practices that are easier to implement and have a broader impact.
• The first is “KPIs,” or key performance indicators. At each annual or quarterly planning meeting, determine as a team which customer metrics you need to measure and, therefore, improve. Some common examples would be how quickly we respond to emails or average resolution time. In some cases, it may be appropriate to tie the bonuses or salaries of certain team members to how these metrics are improving.
• The second is the NPS survey or Net Promoter Score. NPS surveys measure how likely it is that a customer will refer a company to a friend on a scale of 1-10. After noting the current baseline state of your NPS score, create a programmatic method to find ways to increase it. Surveys, personal meetings, and social media can all be ways to gather important feedback.
• Another helpful tool is the “CSAT” or Customer Satisfaction Survey. The CSAT score asks a person questions to rate their experience with a company’s product or service on a scale of 1-5 or 1-10.
• Finally, don’t forget about a good, old-fashioned testimonial. Think about the last time you went to a new restaurant or hotel. You’ve probably seen the reviews. Likewise, customers themselves can be a powerful tool as advocates for your business. After confirming that the relationship is solid and the mood is positive, and after the conversation went particularly well, capture that customer’s glowing and generous spirit by asking for a testimonial. These positive statements can be a low-cost, high-impact tool to help new customers discover your brand.
If this seems overwhelming at all, just remember – it all starts with culture. Once you’ve communicated this customer-centric mindset across all departments, plan to stick to a consistent cadence of checking off whatever benchmarks you’ve decided are most impactful for your business. As a business leader, customer-centricity is integral to my organization’s goals, and thus, at JOOR, we work diligently to constantly reflect on the customer experience and ensure that our customers feel comfortable in our digital environments. I am thriving.
Becoming a customer-centric organization won’t happen overnight, but the work you do to get there will have long-term benefits.
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