Customer Centricity is a new term to capture the thought that customers are central to everything an organization does, including product development, sales, service, marketing and even through its suppliers and channels. IBM has an excellent video called “How it Works: Smarter Commerce” that covers the concept well.
What is Customer Centricity?
1. Customers want to do business with organizations on their own terms using
a. Mobile Devices
b. Social Networking
c. Via new digital things (iPads?)
2. They do not want to re- explain a problem to a service representative
3. They do not want to reenter information provided earlier in a call, or service transaction, on or off the web.
4. They want companies to anticipate their interests and preferences.
5. Customers have unlimited access to the information they value, the advice of their peers.
6. Customers are sharing their opinions with others using social media, micro blogging (ie like Twitter) and mobile.
Companies are taking note of these new realities in the marketplace.
1. Engaging customers in the product development process.
2. Customizing experiences for a customer, tailored to the customer.
3. Anticipating needs
4. Responding in an instant
5. Analyzing data about customers, previously in separate silos in an organization to gain customer insight.
6. Sharing this insight with suppliers and partners.
7. Instrumenting everything from products to interactions with customers so they can be tracked.
8. Using customer reviews to improve products and services.
IBM has recognized the shift in the marketplace and is introducing new software and services offerings, to enable its clients to respond in real time to market shifts, and automate marketing, selling and fulfillment while creating a global brand presence.
Technology is changing and with it, customer expectations. The ability of companies, businesses, government institutions and not for profits to adapt will determine their customer satisfaction going forward and ultimately their success.
What is your reaction to this video? Will you use it to discuss changes needed in your organization with your management?
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