This article shows the ideal customer-centric strategy for CRM…
In my previous article, I have talked much about the customer lifecycle and I said it is a wonderful cycle that you will want to take your loyal customers through over and over again. I also said you can lose your hard earned customers at any stage in the lifecycle to your competitors.
Your competitor is an organization that is producing similar product or services as you are the true value of CRM in a customer-centric enterprise is influenced by the amount of competition being faced by an organization.
When we look closely at the telecom provider In Nigeria, I can say the idea of porting has made many of them sit up. I remember a place where I once worked as a Sales boy.
My big boss then bought Nokia 3310 for us to be making calls. On that fateful day, when mtn line still cost about thirty thousand naira, the phone and the sim was dubiously taken away by a very smart thief.
Believe me, it was hell that day. Due to the advent of competition introduced by Globacom, and other network providers that came later. MTN line is now free. That’s’ what competition can do.
In a customer-centric enterprise or in any business environment, where there is stiff competition, organizations are forced to take customers into cognizance. If we flashed back into the era of NITEL, we can see that NITEL was the lord of the manor. Only the big bosses have NITEL line runs into their houses. It was just like the dark days when Televisions are very rare.
In such monopolistic environment, organizations are more interested in who is paying the bills and they never thought of doing business from customers’ perspective.
I want to focus attention on Airline industry for a moment. Although I have never boarded a flight. The airline has devised a strategy to retain their hard-earned customers. Some of them are forming Trans-Atlantic alliances in order to retain their customers.
You will normally see two airlines coming together in order to become bigger. Majority of them are also partnering with banks so as to make their service accessible to credit-worthy customers.
Sponsoring sports programmes as part of a customer-centric strategy
Some also are spending a huge amount on sponsoring sports programmes most especially football in order in order to direct the attention of sports lovers to themselves.
Some airlines are also coming up with personalized cards, containing profile information of their profitable customers so that they don’t waste time during check-ins and customs.
Most of these are being done in order to retain their frequent air travellers in the face of stiff competition in the industry.
I have said it in many of my previous articles that there are two ways that customers can drop out of your lifecycle.
The second part which is more painful is when you lose hard earned customer to your competitor, that is what is been referred to as attrition.
It is painful because your profit is coming from your existing customers, besides you have already in this category of customers. That is why you have to continue to surpass the expectation of your customers when forming customer-centric strategy.
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