|Objectives of this Article
In this chapter, we want to look at Customer Centric Enterprise, which are organizations that do businesses from customers perceptive. We want to look at:
· What is Customer Centricity?
· Importance of customer centricity
· Customer’s perspective of CCEs
Customer Centricity has much to do with the desire of an organisation to put customers first in whatever thing that they are doing. The organisation in evolving a customer-centric enterprise will try to anticipate what customers want and try to meet customers at the right place with the right products and service.
Customer Centricity can be seen as a set of disciplines and practices that allows companies at different customers differently, thereby gaining strategic advantage leading of expansion of revenues and increase profitability.
Importance of Customer Centricity
If you ask many entrepreneurs the reason why they are not doing business from the customers’ perspective, they would tell you that it is not profitable to do business from the customers’ perspective. This is absolutely wrong.
A recent study by Deloitte Consulting shows that companies that do business from the customers’ perspective are sixty percent more profitable than those that are not doing business from a customer’s perspective. It has been said earlier that customer will gladly move to any organisation that can give them a better offer at a cheaper rate. The more you satisfy your customers; the more you are raising the exit barrier
Characteristics of Customer-centric Organisation
One of the unique features of Customer-Centric Enterprise (CCE) is that they address all customer issues fully and resolve them completely What we are saying here is that a CCE will never treat a customer(s) complaints with kids glove. They will always ensure that their customers are happy. This is to prevent their customers from joining the competitor’s Life Cycle.
When we were discussing brand promise, we said there are some things that your customers expect from your organisation. If you are able to meet or exceed these expectations, then you can be truly called a customer-centric enterprise. The customers expect the organisation to be honest, open, respect the interest of their customers. They also want an organisation that places a high premium on integrity The customers also want fair value at a fair price.
The organisation is also expected to provide emotional support necessary to sustain and grow a relationship which could imply putting customers’ needs and a long-term relationship before personal short-term gain.
The customer also wants a consistent experience from the organisation that they are dealing with. In order to provide a consistent experience, you must have a well trained and knowledgeable workforce that believes that the customer is their priority, not those that treat customers like animals or beggars. This involves making your employees accountable for every customer that is put in their care.
Customer Centricity Vs Product Centricity
In the business world, a business can focus on any of the three areas available in the business world. These are customers, products or channels. In the developed world, more organisations are now focusing on customers because businesses are now becoming more customer-focused because businesses are now becoming more customers driven. This has been making organizations become more focused on customers as they can not afford to be left behind.
In a customer-centric enterprise, on the other hand, less emphasis is placed on a product as the organisation is more concerned about acquiring new customers and raising the exit barrier for their existing customers. They always try to find avenues of increasing their customers’ experience so as to prevent losing customers to their competitors.
In a product-centric enterprise, the focus is placed on products. The organization is more concerned with ways of producing at a cheaper rate and increasing the profit margin. They wan: to find better ways of convincing customers to buy their products so as to close deals at the shortest time possible.
In a customer-centric enterprise, the organisation is more concerned about ensuring that their customers get the best out of their transactions with the organisation. In order to achieve this, the organisation tries to put in place support and services platform which are aimed at resolving customer issues. They ensure that customers issues and challenges are resolved completely.
So far in this article, we have looked at the customer-centric enterprise and we came to the conclusion that it is aimed at making sure that organizational businesses are done from the customers’ perspective.
We also said that in a customer-centric enterprise, profit is not an immediate concern. The organisation ties to delight his customer by coining us with products and services coupled with strategies that will make customers be more loyal to the organisation. This, in turn, will lead to more profits in the long run.
Above all, we said that a CCE always comes~ ~ with a superior brand promise, which is always supported by superior proc acts and services. They also have to come up with marketing plans which are targeted at specific customers. In a CCE, customers have to be treated differently. Profitable customers are given more preferential treatment than nominal ones.
- What does it mean for an organisation to be customer-centred?
- Why is it that organisations mostly in third world countries are afraid of doing business from customers’ perception?
- “Customers’ satisfaction is employees’ satisfaction” Discuss.
4 Discuss Customers’ perspective of CCEs.
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