Your customer in the center again

During the coming years it will be harder and harder for organisations to get new customers on board. Growing churn rates and falling retention rates will keep adding pressure to revenue numbers. Is it possible to turn the tide? Yes. But to do so organisations have to let the focus on new business go and go for building long-term relationships with existing customers. Working together around the customers. In this blogpost you’ll read what four elements are vital for real customer centricity in your company.

Companies and stores can’t rely on only traditional marketing anymore. The customer of today features a finetuned marketingradar and the possibility to show his displeasure. Customers want that the organisaties with who they work put their wants and needs central. If not, it won’t take long for them to leave, leaving behind a harsh review, and go to the competition. The SMEs that care for their customers the moment they come in will always be one step ahead of the competition.

The most important KPI: customersatisfaction

Real customer centricity isn’t only a marketing issue, but concerns the entire organisation. The first irreplacable element in a long-term-relationship with customers is to turn your customerservice into a core competence for every department in your organisation. Every employee and resource should be in service of the customer. The organisation itself should focus on customersatisfaction as the most important KPI, en lose the focus on profitability. This because customers will instantly know if a company only focusses on making money.

Customerdata in your own care, indispensable for a complete and topical image

To give customers the feeling that they really are of the upmost importance for the organisation, a hyperpersonal approach is most desired. The SME-organisation must start to act like a small businessowner and be sincere in their personal attention toward every individual customer. This image can be produced using customerdata. Important in this is that the organisation isn’t relying on external services to collect this data, like social media platforms as Twitter and Facebook. 

Take the story of Ryan Leslie for example. Only customerdata that is in your own control offers certainty that the organisation always has an topical and complete image of each customers. And that the data won’t disappear when the external services decides to shut it down.

Effycient segmentation and data-analysis

But customerdata alone isn’t enough. Real customer centric marketing is about personal attention for individual customers. Organisations will have to respond continuously to the collected customerdata. Because of this it’s important that you can segementate and analyse customerdata quick. So you can follow this up with the right personalised marketing actions via the right channels. Think about the personal birthdaywish that you get through either e-mail or the regular mail. A congratulation through a specially build app for the company when the customer gets to a goal, followed up with an new offer for an extra service via videochat.

The right balance between datadriven marketing automation en personal contact.

A datadriven marketing platform can help organisations by the transition from profitable company to a customer centric organisation. By collecting customerdata from different sources in unique customerprofiles you’ll create a complete image of every individual customer and prospect. A platform like this can even, based on the collected data, automaticly segmentate the different customergroups, analyse interactions and anticipate customerwishes and needs. After wich the marketing- and salesdepartment only has to produce and offer the right content on the right moment via the right channel to the customer. This gives the customer the feeling that the organisation really know him, time after time. 

This feeling will disapear really fast when the customer upon speeking to an employee in person notices that it’s still really all about the money in this organisation. It’s important to find the perfect balance between automated campaigns and real personal contact. Don’t let your employees read callscripts but train them to have real conversations. Make sure that your employees always have a topical and complete image of each customer, so when needed they can play into the needs of each customer. 

The consequences of customer centricity for your information

Organisations that let the focus on new business and being profitable go and use these buildingblocks of customer centricity, will notice that their churn rate is going down. The customer retention rate will rise. And with that the revenue. Not only short term but also for the long run. It is after all well known that structual profits don’t only come from new customers but are also to be found in excisting customers.

Want to exchange ideas? You can reach me at +316 228 236 77

Cees Franke | CEO

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Organizations want to increase their marketing effectiveness through 1:1 marketing. Their data however, is buried in multiple off and online silo’s and they cant find a time and cost affordable method of generating actionable data.

MI8 Marketing has an easy to implement, affordable way of combining, analyzing and enhancing multiple online and offline datasets to drive 1:1 marketing.

The MI8 Marketing Cloud is designed for the future and is prepared for the European Regulation General Data Protection Regulation in May 2018. 

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