Time changes. The world changes. And that will continue.
Due to the pandemic, both ourselves and our lives have changed tremendously in the past years. We are all aware of how quickly change can occur and how transformation can be right around the corner. Along with many changing factors, our methods and focus areas must also change in order to design a successful business model.
Did you know that only 36% of the 100 largest companies in the world work with a customer-centric mindset? The other 64% are more concerned with deadlines and competitors.
This approach might be because the companies work to create “value.” But neither a company nor a person can create value.
Now, it is time to replace the idea of value creation with a different mentality. Companies should give customers what they need while reaching for the “value” they are looking for. The value comes when customers use it for a goal. And by this mindset, our business models should evolve to focus on the customer and the customer’s experience. Let’s start by calling your customers HEROs, and the others left EXTRAs, and that makes perfect sense in a customer-centric world.
Journey-centricity is key for companies not making progress with CX scores and programs.”
Customer-centric models help businesses to focus on their customers’ needs very profoundly. This approach will increase revenue, reduce costs, and improve CX in the long run.
Investigations show us that the businesses which have the customer-centric approach gain;
- 20% to 40% increase in customer advocacy
- 15% to 25% cost reduction
- 10% to 20% increase in revenue
Trust. Empathy. Transparency.
Creating an environment where customers can trust you will significantly affect your brand loyalty, and trust is related to empathy and transparency.
Businesses that think like their customers, determine their needs instantaneously through empathy, and take action accordingly see an increase of up to 82% in their rate of recommendation by their customers.
Additionally, a transparent relationship plays a critical role in maintaining the relationship without losing customer loyalty and trust, even if there are problems with the business.
The goals of a company or customers are specific, and we need to build a balanced system for both in the long run.
The more comfortable and smooth the customers are in a service purchasing phase, the more they will attain the values they aim for, and the more businesses will increase their value.
With Evam, we build a customer experience process where customers will feel comfortable and safe by offering the right offers and solutions at the right time according to their needs. We know the importance of delivering the right messages to the right audience, and we support each end-user to be the HERO of the story by making the correct offers for their own journeys. For more information, feel free to request a demo from our team.