Today, Customer Experience is the differentiator
Many leaders believe that customer-centric business models are in direct conflict with the stakeholder value-based models we see across the world today.
Their organisations focus almost exclusively on the ‘shareholder’ as the most important stakeholder. The reality, however, is very different. If value is optimised for the customer, the entire stakeholder community benefits. Optimising value for stakeholder groups other than the customer can destroy value for the entire stakeholder community as disenfranchised employees and alienated customers result in a revenue and profit reduction. This is why we have ‘sustainable customer profitability’ at the heart of our model. Becoming ‘efficiently customer-centric’ delivers sustainable profit and not misleading short-term profit at the expense of long-term economic value.
Organisations are finding it increasingly difficult to drive sustainable growth through product innovation or ‘low price’ propositions alone.
Product commoditisation, price convergence, customers’ use of pre-purchase search and evaluation, make it tough to differentiate on product and price, For many organisations, a much better driver of growth is delivering relevant, personalised, consistent experiences to clearly targeted customer groups. TCF’s global SCHEMA research, carried out in 2016 clearly showed that businesses who are truly customer centric outperform those who are “customer friendly” or “customer focused” . We help organisations restructure their marketing organisations and devlop ways of working which are ‘commercially customer centric’.
Contact Neil Woodcock for more information on TCF’s ground breaking research.