Are You Customer Centric?

1. Are You Customer Centric? Executive SummaryAre you Customer-Centric?Research indicates that when polled, 80% of your customers will respond that theyare very satisfied with your products/company. Makes you feel great, right? Dont befooled by the common misperception that these customers are indeed loyal and planto repurchase products, or endorse them to their peers & colleagues. The answers tothese 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 Metrics Customer-Centricity Checklistto kick-start your initiative. There are 12 proven strategies with associated reports,tools, and advice to help you improve customer loyalty, and increase profitabilitybased on higher retention rates. © 2009 Demand Metric Research Corporation