Insight

Insights to Leverage Customer Centricity to Drive Sustainable Growth
3-2-1 Insights to Leverage Customer Centricity to Drive Sustainable Growth

The dawn on Digital Transformation has brought a distinct paradigm shift: from product-centricity to customer-centricity. Businesses which survived from the pandemic usually have a customer-centric mindset. How to leverage—and more importantly—foster customer-centricity in an organization?

These are the 3-2-1 insights from observing what the industries have done:

3 Steps to Embrace Customer-Centricity

Turn to data for insights

One of the biggest advantages of digital transformation is understanding the value of data. In a product-centric company, rich customer data is isolated and hidden in different silos in the organization. But digital transformation, through the help of Big Data and Analytics, successfully uncover the insights. This data could reveal customer's patterns, behavior, and thorough details so companies could adjust their strategies accordingly—and reap the benefits faster.

Iterate and test out often

After getting recommendations from the data and applying them, it is important for companies to iterate and test out often to drive real-time customer feedback. By iterating and testing out often, companies could better grasp market behavior and its changing dynamics. This validation is needed so that they could increase profit and drive down costs.

Start from employee experience

HBR (2021) stated that a customer-centric company leveraging their customer experience through employee experience. A Customer and Employee-Centered Workplace should be embraced as employee is one of the customer touchpoints, and they are the ones who deliver business operations.

Three ways to start are 1) designing employee experience to deliver a unified customer experience by understanding the customer journey; 2) training managers and employees to empathize with customers, ask the right questions, and be a good storyteller; and 3) encouraging groups with different skill sets to solve customer problems together.

While these steps may be of help for the business, what's the real story behind it?

2 Case Studies as the Living Proof

IKEA's In-store and Digital Experience

Customer centricity has become IKEA's DNA. Their customer-centric strategies translated into two experiences that become renowned: One, its immersive in-store experience as customers shop carefully furnished and curated spaces, visit a food-court and taste their famous Swedish meatballs and take advantage of complimentary childcare. The other is their digital app where they embed AR technologies so customers could virtually place true-to-scale 3D images of IKEA's products in their own spaces, eliminating challenges when you shop furniture online.

Starbucks Loyalty Program

Starbucks is the living proof of how they could leverage their loyalty program. Their customer-centric strategy not only win their customers over by offering discounts to encourage repeat visits, but also offers in-store pick up for more seamless experience and eliminating pain point (wait time) yet also gives the same customization. Starbucks also pulled the data from their loyalty program and app to even more enhance their strategies.

1 Holy Grail: The Next Step

While it is necessary to turn to industry news and literatures to understand how customer-centricity could drive business sustainable growth, it is even more helpful if we could turn to experts to guide our understanding and put them into practice.

Find out more about how customer centricity leverages sustainable growth in a leading Indonesian FMCG company at Indonesia International Digital Innovation Summit 2021 on December 16th, 2021!

Secure your seat now! Free registration at https://i2dis.multimatics.co.id/#register


Sources:
NA. (2020). 13 Factors To Ensure Sustainable Business Growth. Forbes. Viewed on: https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2020/06/08/13-factors-to-ensure-sustainable-business-growth/?sh=1d1fcbcd5279
NA. (2020). 4 Examples of Brands with Successful Customer-Centric Retail Marketing. Marketing Evolution. Viewed on: https://www.marketingevolution.com/knowledge-center/4-examples-brand-customer-centric-retail-marketing
Ozdoruk, C. (2021). The 5 Top Customer Centricity Examples in 2021. Netomi. Viewed on: https://www.netomi.com/customer-centricity
Rawat, A. (2021). Achieving Customer-centricity through Digital Transformation. WNS. Viewed on: https://www.wns.com/insights/articles/articledetail/397/achieving-customer-centricity-through-digital-transformation
Solis, B. (2021). A 5-Step Roadmap for Becoming a More Customer-Centric Company. HBR. Viewed on: https://hbr.org/sponsored/2021/08/a-5-step-roadmap-for-becoming-a-more-customer-centric-company

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