Brian Sheehan is the author of Loveworks a great book that talks of the emotional commitment your customers and employees need to feel to belong to a group that love your brand. Loveworks features 20 case studies and the website has some awesome tools to assess your brand.
Are you loved?
Find out how to be a well loved brand.
Customer centric marketing is now becoming the new buzz word. I have been doing it for almost 20 years, but what actually is it? Is it a mindset, a business approach or system? A product centric strategy (set your business model up around the product or service you sell) is the model most companies on the planet have; i.e., business as usual. On the other side of the landscape is customer centricity.
Customer Centricity is a strategy. It is aligning your business with the needs and wants of your most profitable customers. For some larger businesses it might be too difficult to migrate their structure to align to the customer but for small businesses it is a doable task that has a real competitive advantage.
Small business is best placed in providing customer value and asking questions about how to make the customer experience better because we have less complicated infrastructures.
Note: Not all customers are your ideal customers. Some just aren’t a good fit. I learnt this the hard way. Sometimes they are just not ready for the service or product you offer, sometimes they are just hard work. Take the warning signals and move on before they become a liability to your business. Some customers just cost too much to service. Peter Fader in his book Customer Centricity makes this point. Pete also states that it means being friendly to special customers, but not necessarily everyone.
Step 1 identify who are your key valuable customers. Basic for segmentation is not just demographics or charactertics but really it should be their Customer Lifetime Value (CLV). It isn’t a one size fit all. Even look at the customers that you love dealing with and value your services, is a good step.
Step 2. Identify your interact in touch points. i.e. CRM – interface – It is a tool to achieve customer centricity. It should be kept simple to start.
Step 3. Realise that you need to be a solution provider and ask why, and help customers.
Step 4. Treat each group of customers differently based on their needs as you get more detailed.
With customers in the driver seat in terms of choice and conducting most of their research online before they find us or hear about us, technology has accelerated the customer centric strategy getting airplay. The product centric model is now vulnerable as they become more commodity based thus price is getting eroded.
Small business have less organisation structure changes, financial risk and can build faster brand equity than every before by engaging with customers.
Where most businesses are finding it more and more difficult to differentiate themselves and can be replicated for a low cost by outsourcing oversees the battlefield for winning over customers has to centre around adding value by consistently delivering delightful experiences. By constantly putting yourself in the customer headspace from your website, to your office parking,
what would make this touchpoint easier, nicer, a better experience?
We know by mapping out purposefully the customer touch points it will have an impact on business objectives around customer lifetime value, retention and profit per customer.
For more information on how to create a customer centric marketing strategy contact Dan for a session.
We are all taking up the opportunity to shop online this Christmas. Let’s face it, time is tight and we can shop and buy from any where in the world, sometimes cheaper so why wouldn’t we? Australian businesses have recognised this trend and so have increased their marketing spend online. Using content as a key way to capture word of mouth through social circles.
According to an article in the Fin Review “E-commerce spending in Australia could rise by 6 per cent year on year in the lead-up to Christmas, a survey of 400 Australian consumers by Adobe showed.
Adobe managing director for Australia and New Zealand Paul Robson said bargain hunting was leading more shoppers online, with 76 per cent of respondents citing lower prices and good deals as the most important reason for avoiding the high street, followed closely by the lure of free shipping at 49 per cent.” When supermarket chains get into the trend of selling on-line for the festive season you know there is a huge opportunity.
IBISWorld said online shopping would make clear advances with clothing, footwear, electronics and books the most popular items on people’s wish lists, and the focus would be on buying gifts for children. That assertion was backed by data gathered by Appliances Online which said nearly 20% of people surveyed would conduct most – if not all – their shopping at online retail outlets.
Another 52% would go online for some of their gifts. Priority purchases would be music or books, fashion, small gifts and appliances.” Mybsuiness.
Not only are we shopping online but we are using our iPads and iPhones to do it. According to a Nielsen report, Compared with 2011, PayPal Australia has seen mobile purchases increase substantially over the Christmas shopping period. This growth is aligned with Nielsen research predicting that consumer purchases on mobile devices will value $5.6 billion in 2012, up from $155 million in 2010. The Nielsen research also indicates one in three (31%) Australians have transacted on mobile devices, with 22% using a mobile device for a retail purchase over the lead up to Christmas (Q4 2012).DBO
E-bay research indicates that
- Two thirds (66%) of Christmas shoppers admit they prefer to plan ahead and do research before buying gifts, while only one third prefer to make spontaneous gift purchases
- Women (especially mums) are far more organised than men when it comes to Christmas shopping. Three out of five (60%) women are starting their Christmas shopping early, compared to just 44 per cent of men
- Dads (53%) are lagging behind their better halves with 73 per cent of mums looking to shop early
This week is the last week really to get your Christmas campaigns organised.
Love Australia Post Video Stamp idea. This shows they have really thought about a way for us to be there at Christmas when we can’t. Nice one.
A good friend Pete asked me about a video I collected on telling a story for a company and I thought I would share them with you. My top favourite stories in video format.
They are real, human, funny and in a service based business show what it would be like to work with you.
So how do you communicate your story?
Architect – Peter Madison
Dollar Blades – (a few rude words – warning) Very Funny