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1. Executive Summary
Are you Customer-Centric?
Research indicates that when polled, 80% of your customers will respond that they
are very satisfied with your products/company. Makes you feel great, right? Don't be
fooled by the common misperception that these customers are indeed loyal and plan
to repurchase products, or endorse them to their peers & colleagues. The answers to
these two questions are the real drivers of customer-centricity & loyalty.
How Can You Drive Customer-Centricity?
• Analyze Data - work with I/T to get historical purchasing information,
segment your customer-base, discover trends, analyze retention rates, assess
geographic market penetration, and ultimately build your set of CRM metrics.
• Observe - develop marketing analytics processes related to website activity,
customer behavior, predictive modeling, forecasting, and campaign ROI.
• Gather Feedback - conduct an annual Customer Satisfaction Survey.
• Profile - help your staff understand Market Segments and Customer Profiles
by working with customers to create Case Studies and generate testimonials.
• Understand - as markets continuously evolve, redefine your target markets
by reading our report and conducting a Market Segmentation, Targeting, &
Positioning initiative.
• Plan Interactions - some accounts are more strategic than others. For those
of paramount importance, implement a Key Account Planning process.
• Listen - consider adding a customer-facing Blog to your corporate website.
Blogs are very effective for generating feedback on products and services.
• Consult - work with Sales to adopt a more Consultative Sales approach.
Action Plan:
Work from a Checklist - download Demand Metric's Customer-Centricity Checklist
to kick-start your initiative. There are 12 proven strategies with associated reports,
tools, and advice to help you improve customer loyalty, and increase profitability
based on higher retention rates.
© 2009 Demand Metric Research Corporation