Tag: omnichannel

7 Proven Customer-Centric Strategies Smart CEOs Use to Drive Growth

Posted on by Denyse Drummond-Dunn

Have you made changes to drive your business growth using customer-centric strategies that are based on current trends?

Don’t know which ones are most relevant?

Then read on for a description of each and ideas on actions you can take to reap significant benefits in your growth and profitability.

 

Introduction

The landscape of customer-centricity continues to evolve rapidly as we move into the second half of 2024. Changes are being driven by technology, changing consumer expectations, and global dynamics.

Companies that fail to keep pace with these shifts risk falling behind, while those that embrace customer-centric strategies based on the latest 2024 trends will thrive.

In this article, we’ll explore the latest tendencies shaping customer-centricity, provide examples of how forward-thinking companies are leading the way, and include relevant statistics that illustrate the importance of these trends.

 

The Key Trends Impacting Customer-centric Strategies in 2024

Let’s start by reviewing the leading trends we have seen in the first half of this year. Are you aware of them all? And more importantly, have you made changes to benefit from some if not all of them?

 

1. Enhanced Focus on Customer-Centricity

Customer-centricity, once a differentiator, is now an expectation! In 2024, more companies have focused on customer-centricity as their core business strategy. This goes beyond lip service and involves deep integration of customer feedback, behaviours, and pain points into product development, marketing, and service delivery. Are you walking the talk?

A recent study by PwC found that 73% of consumers point to customer experience as an important factor in their purchasing decisions. Still, only 49% of U.S. consumers say companies provide a good experience. This disparity presents a significant opportunity for businesses that can truly place customers at the heart of everything they do.

Companies such as Allbirds, a sustainable shoe company, exemplify this focus by consistently involving their customers in product development through feedback loops, surveys, and data analytics. As a result, Allbirds has grown exponentially by delivering products that align with customer desires for both comfort and sustainability.

Patagonia is another company that excels in customer-centricity. Known for its environmental activism and durable products, Patagonia directly aligns its business operations with customer values.

A standout example of this is their “Worn Wear” program, which encourages customers to buy used Patagonia gear, repair their products, or trade in old items for store credit. This program not only addresses customer pain points related to sustainability but also strengthens loyalty.

According to a 2021 survey, 87% of Patagonia customers expressed increased loyalty due to the company’s ethical practices and customer-first initiatives.

As businesses increasingly adopt customer-centric strategies, expect to see more companies integrating customer feedback into every aspect of their operations.

 

2. Integration of Artificial Intelligence (AI)

Artificial intelligence is no longer a novelty; it’s a necessity for delivering hyper-personalized customer experiences.

In 2024, AI is already playing an ever-increasing role in predictive analytics, hyper-personalization, and customer support automation.

A McKinsey report revealed that personalization can lift revenue by

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Surprising Solutions to the 9 Business Challenges of a Customer-First Strategy

Posted on by Denyse Drummond-Dunn

Adopting a customer-first strategy isn’t just an option these days. But did you know that, perhaps surprisingly, it can answer most business challenges? And it is therefore essential for the survival and growth of every single business.

Yet, I know that this paradigm shift can present formidable challenges that many organisations struggle to overcome.

In 2023 I wrote a popular post covering the ten most common challenges businesses face when starting their journey to customer centricity. It is called “Top 10 Challenges Facing Companies When They Adopt a Customer-First Strategy.”

But a lot has changed in the past year, which is why I decided to update my suggested solutions to the latest obstacles businesses face when pivoting to a customer-centric approach.

As before, I provide supporting data and some inspiring case studies to get you going.

Feel free to comment about your own challenges if I haven’t covered them here or in the previous article.

From reshaping ingrained company cultures to harnessing the power of big data, I’ll explore how industry leaders like Toyota, Salesforce, Target and Netflix have successfully navigated these challenges.

Whether you’re a startup looking to disrupt or an established enterprise aiming to evolve, this article will equip you with the knowledge and tools to transform challenges into opportunities.

Let’s take a look at nine key hurdles I have noted in working with my clients, and discover how to solve them, ensuring your business stays ahead in the race for customer loyalty and sustainable growth.

 

1. The Biggest Business Challenge – Revolutionising Company Culture

The transition from a product-centric to a customer-centric culture demands a complete overhaul of organizational mindset. This seismic shift often faces resistance from employees deeply rooted in traditional practices, who may struggle to see the immediate benefits of a customer-first approach. Companies grapple with ingrained behaviours, leadership communication gaps, and inadequate training programs.

Solution: The key lies in unwavering leadership commitment and consistent, clear communication. Take Zappos, for example – they’ve woven customer service into the very fabric of their core values, reinforcing this through ongoing training and aligning it with customer success metrics.

To facilitate this cultural metamorphosis:

  • Implement regular workshops that highlight the tangible benefits of customer-centricity
  • Develop a comprehensive internal communication strategy
  • Create a reward system that recognizes and celebrates customer-focused behaviours

The payoff is substantial: companies prioritizing customer experience see up to 1.7 times higher customer retention and 1.9 times higher average order value. This isn’t just a change in strategy; it’s a revolution in how business is done.

If you’d like to know the most effective way to overcome resistance to change in your company culture, please book some time for us to discuss your needs and identify three actions you can immediately take; click the link below.

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2. Mastering the Art of Customer Data Analytics

In the age of big data, businesses are drowning in information but thirsting for insights. The sheer volume and variety of customer data can be overwhelming. Companies struggle with data

… Click to continue reading

5 Key Trends to Business Success in 2024 using a Customer-First Strategy

Posted on by Denyse Drummond-Dunn

As we debut the second half of the year, the ever-evolving landscape of customer experience (CX) is making business success even more challenging than usual.

Are you finding this too? If so, then I have some ideas to help.

We already know that businesses that embrace a customer-first strategy successfully lead their markets by driving growth from increased loyalty. To continue benefiting from this customer-centric approach, it is important to understand what has changed in 2024 and how companies should react to their customers’ ever-changing demands.

 

Business Success in 2024: The Key Trends

Here are the key trends of 2024 and some questions you may already be asking yourself about them. If not, then perhaps you should.

As always, I share my ideas and examples to help you make any changes you decide are needed.

 

AI-Driven Personalization:

What is it? AI-driven personalization leverages artificial intelligence and machine learning to analyze vast customer data and deliver highly customized experiences.

It is important because it enables businesses to anticipate customer needs and offer tailored recommendations, enhancing the customer experience and driving business success.

Example: eBay’s new magical listing tool uses artificial intelligence to extrapolate details about listings from images. As a result, sellers can list items easily, and buyers can access more information about potential purchases. (Source)

 

Data Privacy and Trust:

What is it? Ensuring customer data is handled with transparency and robust security measures.

With increasing regulatory scrutiny and customer awareness, businesses must build and maintain trust by protecting their customers’ information, which is vital for ongoing business success.

Example: To sustain their customers’ trust, companies should communicate clearly about data usage and adopt stringent security protocols to prevent data breaches.

 

Omnichannel Experiences:

What is it? Providing a seamless and integrated customer experience across multiple online and offline channels.

Customers expect consistent interactions and a unified experience, regardless of the channel they are using. This can enhance both their satisfaction and loyalty.

Example: Airbnb offers 24/7 support through various channels, ensuring customers receive timely assistance regardless of the platform they use. (Source)

 

Ethical AI:

What is it? Using AI responsibly and transparently avoids perpetuating biases and helps to maintain customer trust.

Ethical AI practices are essential for building long-term, trust-based customer relationships and ongoing loyalty.

Example: Businesses must be open about how they use AI in customer interactions and take steps to mitigate any negative impacts.

 

Empathy at Scale:

What is it? Combining AI-driven automation with human empathy enables your customer service team to handle complex customer issues more effectively.

This approach ensures that customers feel valued and understood, even when interacting with automated systems, contributing to continued customer satisfaction.

Example: Using AI to address simpler queries frees human agents to provide empathetic support for more complicated issues. It is also usually speedier, which customers appreciate.

Are you following trends? If so, do you turn them into plausible future scenarios? If not, you are missing an

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Providing Amazing Customer Journeys by Leveraging the Power of Technology

Posted on by Denyse Drummond-Dunn

Customer journeys are evolving fast, and technology is at the forefront of this transformation, especially in the past couple of years, thanks to AI.

This post explores how businesses can embrace omnichannel experiences, self-service solutions, and data-driven personalisation to create amazingly seamless and unforgettable customer journeys.

I have also added examples illustrating some of the more successful implementations. Be inspired by these real-world illustrations of companies that have leveraged technology to build strong customer relationships and unlock new avenues of growth for your business.

 

Technology-Enhanced Customer Journeys

In the dynamic realm of modern business, the pivotal role of technology in shaping customer service has become undeniable.

Organisations adept at harnessing the potential of technological advancements offer seamless and personalised experiences and gain a distinct competitive edge in today’s rapidly evolving digital landscape.

This article unveils the profound transformation of customer service in the digital age, underscoring how technology has revolutionised customer expectations and enabled organisations to deliver faster, more efficient and tailored support.

 

The Evolution of Customer Service in the Digital Age

The digital age has brought forth a sweeping transformation in customer service. Technology, the bedrock of this evolution, has spurred a revolution in customer expectations, compelling organisations to elevate their service standards.

By capitalising on technology, businesses can now offer swifter response times, enhanced efficiency, and personalised touches that cater to the individual preferences of their clientele.

As technology continues to advance, so do the expectations of today’s customers. A prime example of this is the seamless omnichannel experience offered by retail giant Nike.

By integrating web, mobile, social media, and in-store interactions, Nike has created a harmonious ecosystem that caters to customers’ preferred communication channels, resulting in a 40% increase in online sales.

This showcases how technology can amplify customer service, enabling organisations to meet customers where they are and provide a consistent, convenient, and personalised customer journey.

1. The Rise of Omnichannel Customer Service

In today’s digital landscape, omnichannel customer service has become a beacon of innovation and strategic importance. By seamlessly integrating multiple communication channels, including web, mobile, social media, and chat, organisations can provide a uniform and convenient customer experience. The synergy achieved through this integration nurtures customer satisfaction and provides invaluable insights into consumer behaviour and preferences.

As previously mentioned, Nike is one example of a brand that has successfully done this, but there are others. Starbucks is another industry trailblazer.

With its mobile app, customers can order ahead, earn rewards, and make payments seamlessly. This technological integration enhances convenience and deepens customer engagement, resulting in a staggering 40% of Starbucks transactions being conducted through its app today. This vividly illustrates how the convergence of channels empowers customers and fuels business success.

2. The Shift Towards Self-Service

The era of customers’ digital empowerment has fostered a discernible shift towards self-service options driven by the burgeoning demand for instant gratification and autonomy.

Organisations are now empowered to equip customers with comprehensive self-help resources, knowledge bases, interactive FAQs, and AI-driven chatbots that deliver … Click to continue reading

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