Customer Centricity : the devil lies in the details

This decade's prominent trend is to be customer-centric and is often viewed as a one-off initiative rather than the way of doing business, misleading organisations into believing they are truly customer-centric. The most common misconception about being 'customer-centric' is to have customer facing applications.

Businesses worldwide have evolved from rendering tailor-made products to employing mass production to focusing on product-centricity to delivering personalised services to finally focusing on customers. The truth is that there is a widespread quest for customer-centricity, but most organizations are not true practitioners.


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Reasons that advocate businesses to be customer centric

  • Boost revenues by understanding customer needs

  • Enhance customer loyalty through actionable customer insights

  • Bring product innovations by considering customers' needs

  • Increase wallet-share by maximising customer longevity and lifetime value

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7 steps toward true Customer Centricity

Evaluate your customer centricity quotient

  • Is your business strategy customer focused?

  • Are you segmenting your customers based on their profitability and their lifetime value, in order to be able to give differential treatment depending upon the value that they bring to you at all touch points?

  • Are your processes built around servicing customer needs?

  • Does your organization have the technology that supports all customer processes seamlessly?

  • Do you have a unified customer database with a single truth of customers across LOBs, departments and geographies?

  • Are your people sensitized to the value that each customer brings and importance of each customer interaction across all touch points?

  • Are your products/ services adaptable to ever changing customer needs?

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