Globally, Customer Experience is dened as the relationship between the customers has with a particular brand. It is made up of all of the interaction and experiences frequency, the Customer has had with a specic brand’s outlet or a sales channel, from the time the customer rst made contact with them, up to the Present day!
To create customer success, an evolution of customer centric culture is required, rst to be established and then consistently get measured. “Let’s look at the 80/20 rule (the Pareto Principle), 80% of business comes from 20% of your existing and consistent customers – if I describe it more, a small portion of your customers actually generates the major chunk of your sales revenue. Now that’s the implication of customer loyalty. That’s why acknowledging and respecting this 20%” valued customers is vital. After all, loyal customers are the biggest assets of any business, globally and nationally!
The Brands in Pakistan that are True to their ideas of Good Service as the new Battleground and are Successful in building that Emotional Connection, are going to be the successful brands win 2016 to enjoy the Cult-like Followers that all other brands will struggle to achieve. This time, the loved customers are going to be the loyal customers.
In fact, customer loyalty is an after product of a customer focus & centricity culture. The key determinant of a brand’s success. Yet many companies still keep focusing more on seasonal sales and spending funds on putting bill boards at prime locations in major cities of the country with “Sale up to 50% or 70% O” Getting new customers is important, but are these companies actually working to bring them and then give them a great shopping experience and keeping them coming back on a regular basis?
A great Support and service with quality communications content is the most emotionally perceived factor for a customer these days. Now in Pakistan as well, the customer looks for acknowledgements and a ne purchase assistance. They like to be valued. Even if they are surng at your web, they like to be get assisted through online live chats. Though this was not a culture 10 years back but now more awareness and wide product choices have raised the standards of customer expectations as well as customer services standards in Pakistan.
A personalized buying experience with resolution of issues and problems quickly leads to the customer advocacy for your company. Remember customer advocacy is the most genuine way of increasing customer database and referrals. Front end business to customers B2C or even B2B must have a customer advisory platform associated with them. As customer advisory groups or advocate communities share feedback, it’s important to actually listen, use it and then tell them how it was used.
Activating your brand advocates can be a delightful way to increase marketing reach and grow your business. Great companies are founded on an insightful knowledge of their customer’s preferences and they actually invest a reasonable budget on their customer service rather than placing everything for advertising which has rather a short term impact.
A GREAT CUSTOMER CENTRIC ORGANIZATION FOLLOWS:
As a customer centricity specialist, let me share few of the important strategies which should be a part of every brand’s daily life, i f they want to excel in the current competitive market:
THE IMPACT OF CUSTOMER SATISFACTION AND ITS BENEFITS FOR THE PAKISTANI COMPANIES:
Through a recent survey conducted by Static-A which is Pakistan’s nest Customer centricity advising platform serving most of the top notch companies and brands in the country, the survey was conducted among the potential customers in between the age group of 18 to 65+.
This was observed that 90% of the happy customers has recommended a business to their family and friends, after a positive experience and 86% of them were willing to pay even more to remain connected with them as a customer. See the power of loyalty!
However, the negative inuence is also stronger as 87% discouraged a business after having the negative experience at any touch point and. Hence, this is very important to learn the experience insights from your customers to know what they are going through emotionally at our sales points.
DEVELOP THE CUSTOMER CENTRIC CULTURE AT YOUR ORGANIZATION:
Through a recent market research study conducted in three larger cities of the country, it was indicated that 81% of customers are willing to pay more for a better customer experience. In addition, it was stated that:
• 72% of customers stopped buying goods or services from a company after experiencing poor sales process and/or bad customer service
• 64% of customers switched and made future purchasesfrom a company’s competitors after experiencing poor sales process and below average customer service at a specic brand.
These sobering statistics show that now in Pakistan, customers’ perceptions have a profound impact on every organization’s brand equity, customer loyalty, and revenue. Therefore, I believe this should be one of the prime agenda in every brand’s annual strategy of Year 2016. Do you have a plan now? If not, then plan now or get an advice how to make your next move!
HOW CUSTOMER CENTRIC ARE YOU?
Remember Customer centricity is not a technology or a new job description for your customer services department, it’s the culture which a company should create by consistently prioritizing it from top to bottom with devotion and passion to serving their customers, delight them and a genuine wish to create WOW experiences for them. It’s equally important whether your company is on B2C model or B2B business model. I wish you good luck in achieving the customer centricity culture for your companies and realizing true business retentions!
Mr. Ali M. Malik
Founder & Consultant (Static A)