Why Customer Centricity is still important?

Why Customer Centricity is still important?

Despite numerous advancements and changes in the business world, Customer Centricity remains the concept to which businesses must adhere in order to succeed. 

It is not a new concept. It is the foundation of all businesses.

This was first talked about in 1954 by Peter Drucker, who said:

“It is the customer who determines what a business is, what it produces, and whether it will prosper.”

And we couldn’t agree more. 

In fact, it is more relevant today when customers know what they are looking for. In this digital economy, customers have more power than they used to. They have a plethora of options to choose from with just a few clicks on the phone and resources to educate themselves, so they can make the purchases they deem best.

Thus, the stakes for delivering value and an impeccable customer experience are higher than ever. 

Let’s look at a few startling facts: 

These stats clearly indicate that if a business wants to thrive and prosper in this highly competitive environment, it must keep its customers at the center of whatever it does. 

Still, many organizations fail to do so. 

Most organizations still arrive at business decisions from an inside-out perspective, prioritizing the company’s near-term profits over the needs of the customer.

This instead must be the other way around if a company really wants to see its customers happy. They must be guided by the principles of putting the customer first, even when it may not be the most profitable option in the short term.

A remarkable customer experience promotes loyalty, helps retain existing ones, and encourages brand advocacy. These satisfied customers will help you grow your business for you through word-of-mouth.

🎯 Take the examples of top CPG companies such as Nestle, P&G, and Unilever. 

These brands have successfully set the bar high by practicing customer-centricity for decades.

Understanding what customers truly need and want and delivering on those needs is not a mystery. 

The challenge is putting principles into action in every aspect of the business, so your customers can feel the difference. 

It takes effort, dedication, and consistency to create systems that align their decision-making with customer-centric principles at all levels of an organization. 

This may be the hard part, but it is a crucial one, as it will set your business apart and secure long-term success.

The business world is constantly evolving, but one thing remains clear – 

Customer centricity is here to stay.

Are you doing enough to make customer-centricity a reality in your business practices?

Time to think!

Tags :
Customer Centricity,Customer Experience,Decision Making
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