Customer-Centric Retailing –A New Way of Leveraging Personalization

Customer-Centric Retailing –A New Way of Leveraging Personalization

You have to put many factors into place to develop a booming business in today’s world. The customer is one such crucial factor. In recent times, retailers emphasized more on personalized customer experience. So, a customer-centric business model is essential. To achieve a positive and personalized experience and pay more attention to their customers, a customer-centric business model helps the organization.

A study shows that failure in providing a better customer experience forces companies to lose in billions, whereas an increase in positive customer experience could lead to additional revenue increment. So, customer-centricity favors the company’s interest, even though it is in the customers’ interest. Today customers dictate how brands shape their customer experience as their needs determine how they shop – online, offline, or both, and where they carry out transactions.

To be more customer-centric, tailor-made around customers’ needs, the main challenge is how to redefine business operations in every industry with the changes in customer aspirations. Research shows that implementing a customer-centric strategy is 55% more profitable for the companies. If you desire to deliver a great customer experience, improve your business according to the recent trends by promoting customer-centric values.

“93% of customers say trusting a company makes them more likely to recommend that company”

Trends in Customer Trust Report,
salesforce.com

What Is A Customer-Centric Company?

Offering excellent customer experience in all stages – from search through purchase and finally post-purchase (If the customer needs any return/replacement of the product) – comes under being a customer-centric company.

A customer-centric company promotes personalized customer experience before and after-sales. This way, companies assure to cherish customer loyalty, the culture of repeating customers, and ultimately increased profits. Make your customers satisfied and loyal to you, which leads to more positive referrals, more new leads, and an increase in sales with the customer-centric business.

Implementing Customer Centric

Challenges Associated With Being Customer-Centric

In making your business more customer-centric, it is also crucial that you know the challenges a company might face. Knowing what to be involved in becoming a customer-centric brand and applying those in your CRM is not enough. Here, we will discuss a few Challenges associated with implementing a customer-centric model in your business.

  • Customers willingly compare the available brands while choosing a product to purchase, and the demand is gradually growing. So, it would help if you had an exhaustive understanding of the communication within your company to become a customer-centric brand.
  • Impaired communication among the employees, management, and other departments leads to poor output. In several scenarios, store associates are not well informed about top-level management decisions; hence delivery is impacted. The culture has to change to achieve a customer-centricity approach to avoid this. There should be a flow of accurate information from top to bottom in the hierarchy. Everyone in the organization plays a crucial role in making this transformation possible.
  • Often silo culture makes operationalizing around customers demanding due to organizations’ flawed communication processes. To deliver a unique experience by joining up distinct silos in a bid often turns out to be a step too far as each silo has its structure of operation, processes, and technology consigned to it. Instead, in building up various sections during product creation, these individual silos can be divided into separate duties.

You will get a better sense of your loyal customer with the proper flow of information across departments, and in addition to finding new customers, you can retarget your returning customers with the right content or product.

Talk to our Ecommerce Experts

Solutions to overcome implementation issues of customer-centric model

To make a customer-centric experience reality, your brand requires the adoption and embodiment of skills and competencies. In today’s digital world, building a customer-centric organization is complicated. There’s now an expectation from customers for greater customer attention, while new technologies have allowed companies to roll out changes.

Customer Centric

It would be best to place yourself in their shoes to exceed customer expectations and deliver excellent expectations since they are becoming more informed and empowered in product choice. Put customer requirements and a preference for communication at the starting point of the purchase process to implement a customer-centric strategy.

To transform your business into a customer-centric company, CRM experts of ETG Digital have shared a few rudimentary tips and solutions so that you can implement a customer-centric model flawlessly.

“Personalized engagement has emerged as a key differentiator. Mandating a smooth flow of information among marketing, sales, service, and commerce systems”

— Partha Kotagiri,
Vice President Technology & Customer Success,
ETG Digital

Prior preparation of adoption of the Customer-centric culture

Before hiring employees, who would be expected to uphold the company’s value, you should make the customer need your company’s core value. Your employees should be empathic and focused on customer needs. They should understand the customer needs and develops ideas targeted at realizing them.  

Customer Research

The more you improve your customer experience, the more customers you will attract. To understand their customers collectively and on an individual basis, learn to monitor your performance. Collecting data from communication sources like – call-center logs, social media feedback, or transitional surveys- see how the customer feels about your brand. This in-depth research of customer feedback will provide you with the best way to understand and deliver a customer-centric experience. Customer relationship management or CRM should be utilized appropriately to understand customer needs fully. After all, it is effortless to love a brand if the love is reciprocated. Since a customer-centric strategy creates loyal customers, it is a key to the development and growth of services, giving them a reason not to turn their backs on your brand.

Create deeper connections with data obtained

To put your customers in the center of all you do, analyze customer data which provides you with a predictive model. This model will give you a forecast of what your customers want and how they shop. It allows for a personalized experience that they are more likely to repeat.

Optimize your customer marketing strategy

To monitor and measure your engagement with your customers, grasp the influence of digital marketing. A customer-centric brand has the opportunity to focus more on the customer rather than itself, thanks to various marketing tech and multi-channel strategies, and detect the level of engagement you have with these buyers.

Empower and encourage your employees

Your staffs are the frontline of your business, even though customers are the core value of your business. Therefore, empower them to make the required decisions to meet those customer needs. To ensure that every customer interaction translates into sales, give your customer service professionals the necessary tools, skills, and confidence to identify and seize the opportunity. The scenes decision-making from your equipped employees would quickly enhance customer experience.

Conclusion

To survive in today’s world, retailers still have some work to do if they prioritize generating revenue over meeting the needs of their customers. So, to develop strategies that focus solely on benefiting your type of customers, reach ETG Digital. Learn how Salesforce #1 CRM helps you create a personal experience at every moment — from the first search to the final purchase, and each turns of the journey in between.

Talk to our CRM Experts

About ETG Digital

ETG is a Salesforce Strategic partner. Headquartered in Plano, Texas, ETG is ISO 9001:2015 certified company with a global delivery center in Hyderabad, India. We have a dedicated team serving the business worldwide from multiple locations in the US, Canada, UAE, UK, Australia, and India. Over the last two decades, we have been dedicated to customer success through leveraging emerging technologies. We provide customized and tailor-made solutions for retailers starting their eCommerce journey.

Drop us a note info@etggs.com to start your digital transformation journey.