Thursday, April 6, 2023

Initiatives

There are different levels to value creation for a customer; not only helping the customer achieve their goals currently; but also providing the next best alternative which could spark the innovative ideas.

In essence, the digital era is the age of customer-centricity to fit the business’s purpose and create more customers. The contributing factor to customer experience is more than just process; there are many key factors in customer experience management. 

It's the entire value stream that influences customer experiences which is an aggregate of all the diverse strategies around products/solution differentiation, pricing/promotion differentiation, and providing customers unique experiences & special value.

Affinity/advocacy state is definitely a goal for improving customer experience: At the top stage (Affinity/ Advocacy) of customer-centricity, the company's customers become a key marketing focus for the organization (they keep business surviving and provide crucial referrals to the company). Introducing customer-centric strategies not only allows a more open and honest rapport with customers, but also allows business growth and change, in line with customer needs and building the right products/services for generating business value constantly.

Negative customer experiences hurt corporate reputation for the long run. Too often, the customer-centric effort is the “lip service,” so the customer mantra pales in comparison to the rigor of other areas of the operation where there is measurable clarity of what needs to be done, by when and by whom. If the level of customer satisfaction is lower, organizations become vulnerable due to negative culture impact and fierce competition, their brand name is tarnished and their performance suffers ultimately.

A customer centric company integrates cross-functional processes into differentiated competency for improving customer experience: Processes underpin business capabilities. It depends on how relevant the process is to impact the customer experience. Every part of the process is interlinked and the smallest touchpoint will have an effect (bottleneck) on a major touchpoint further up or down the line, and vice versa. Therefore, it will have an overall effect on the integral process to improve customer experience.

You should look at the company’s technical capabilities to optimize customer experience and build unique organizational competency. You would have no process without customer touch-points. Hence, the customer; interactions are the route course of all of your internal interactions. Besides internal talent and process, the tools and vendors alone represent a set of capabilities that many senior executives are unaware even exist. It's important to understand how all the business processes fit together, how the accountability, ownership, and handoffs between teams and processes are designed to improve customer-centricity.

Organizations can improve customer experience, or make special promotions, campaigns, contributing to customer acquisition and retention:
Customer experience management is a cross-disciplinary approach, leveraging architecture, design and engineering aspects to shape a people-centric and high-performance organization. Do information based customer sentiment analysis. This would likely involve analyzing your existing customers to come up with a customer profile. 

Change is not for its own sake, but putting people at the center of the business initiatives. Link customer satisfaction with employee engagement. It is a total effort of what the employee brings to a business, now and in the future via multi-dimensional lenses (Productivity, Quality, Creativity) to improve people-centricity.

There are different levels to value creation for a customer; not only helping the customer achieve their goals currently; but also providing the next best alternative which could spark the innovative ideas upon knowing what customer needs next, improving their satisfaction and generating value for the organization proactively.

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