Tag: personalisation

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.

If you prefer to listen rather than read:

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

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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 is more than 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 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.”

However, a lot has changed in the past year, so 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.

If I haven’t covered your challenges here or in the previous article, feel free to comment.

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.

If you prefer to listen rather than read:

 

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.

LEARN MORE

2. Mastering the Art of Customer Data Analytics

In the age of big data, businesses are drowning in information but thirsting

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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.

If you prefer to listen rather than read:

 

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,

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Twenty Ways to Delight Your Customers: Transforming Satisfaction into Loyalty

Posted on by Denyse Drummond-Dunn

Today, most markets are saturated, and companies are fighting for the same customers. This is why organisations should no longer aim for customer satisfaction but rather delight. But how can you delight your customers so they remain loyal advocates?

With fewer and fewer differences between the products and services offered, many companies have realised that they can – and should – differentiate by improving their customer experience. Here are twenty ways to get started, together with best-in-class examples, but I’d love to hear how you delight your own customers and turn satisfaction into loyalty.

 

1. Deliver Exceptional Customer Service

Exceptional customer service is the first essential step to plan. It’s about creating an unforgettable positive experience that fosters loyalty and word-of-mouth promotion.

A study by American Express found that 70% of consumers are willing to spend more with companies they believe provide excellent customer service.

Nordstrom sets a high standard in this regard, famously accepting the return of car tyres they never sold to satisfy customer expectations and demonstrate their commitment to service.

This example underscores the importance of empowering employees to make decisions that prioritize customer satisfaction, fostering a strong customer-centric culture.

Another company renowned for its customer service is Zappos, an online retailer. The company has a 365-day return policy and is known for going above and beyond for customers, such as when a customer service representative sent flowers to a customer who had lost her mother.

 

2. Personalise the Experience

Personalization makes customers feel uniquely valued and understood. It is the second most important way to delight your customers.

According to a report by Epsilon, 80% of consumers are more likely to purchase from a brand that provides personalized experiences.

Spotify exemplifies personalization by using sophisticated algorithms to tailor playlists to individual tastes, improving user engagement and increasing subscription retention rates.

This approach demonstrates how leveraging data and technology to understand and anticipate customer preferences can significantly enhance the user experience.

Netflix offers another excellent example of personalization. It analyzes viewing patterns to recommend shows and movies, enhancing user satisfaction and retention. I bet you’ve clicked on many of their suggested titles. I know I have!

 

3. Offer a Loyalty Program

Loyalty programs reward and encourage repeat business, creating a tangible incentive for ongoing patronage.

This strategy boosts sales and delights customers by enhancing their emotional connection with the brand and making members feel valued and special.

Sephora’s Beauty Insider program offers a compelling example with tiered rewards, including birthday gifts, exclusive discounts, and early product access.

Any way that makes your customers feel special will also increase their loyalty and advocacy.

 

4. Maintain High Quality and Reliability

A company’s commitment to quality reassures customers and confirms their purchase decision, fostering trust and satisfaction.

Especially where larger and exceptional purchases are made, your customers need ongoing reassurance that they made the right decision.

Toyota is renowned for the durability and reliability of its vehicles, which has cultivated a loyal customer base

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The CMO’s 5-Step Guide to Boosting High-Quality Traffic and Customer Engagement

Posted on by Denyse Drummond-Dunn

What is the cornerstone of sustainable growth and competitive advantage today?

The answer is that a business can benefit from technology in this digital age to attract high-quality traffic and engage customers effectively.

This guide is for all executives who recognize the critical role that strategic, data-driven customer engagement plays in their company’s success.

If you prefer to listen rather than read:

 

Understanding the Challenge of Getting High-Quality Traffic

The explosion of systems and platforms means that the digital landscape is crowded and noisy. With millions of websites vying for our customers’ attention, driving high-quality traffic that converts into loyal customers requires more than a scattergun approach to marketing.

It’s about delivering the right message, to the right people, at the right time. Well, at least that means that nothing has changed for marketing, doesn’t it?!

According to HubSpot, 61% of marketers consider generating traffic and leads to be their biggest challenge.

So why has this become even more challenging? Because consumer behaviour has evolved.

Today’s consumers are inundated with choices and information, making them more selective about where they direct their attention and loyalty.

They seek personalized experiences, and value authenticity and engagement over generic sales pitches. This shift demands a strategic overhaul of how companies approach customer engagement and traffic generation.

Join our Ultimate 60-mins CX Makeover to discover a new way to decrease information investments while simultaneously deepening the knowledge of your market and customers.

Leveraging Data for Personalisation 

The key to unlocking high-quality traffic lies in data-driven personalization.

A study by Epsilon found that 80% of consumers are more likely to purchase a brand that provides personalized experiences.

By leveraging data analytics, marketers can gain insights into customer preferences, behaviour, and purchase history, enabling them to tailor their messaging and offerings.

Consider Netflix, which uses viewing data to personalize recommendations for its users. This data-driven strategy not only enhances user engagement but also keeps customers coming back for more.

By analyzing the vast amounts of data available to them, Netflix can predict what its users will enjoy watching next, leading to increased customer satisfaction and retention rates.

The Power of Content Marketing to Attract High-Quality Traffic

In Conclusion

Driving high-quality traffic and engaging customers in today’s digital landscape requires a strategic, data-driven approach. By leveraging personalization, content marketing, SEO, and social media, and by measuring the success of these strategies, CEOs and CMOs can not only meet the challenge head-on but turn it into a significant opportunity for growth and differentiation.

Embracing these strategies requires a commitment to understanding your audience deeply, experimenting with different approaches, and continuously optimizing based on data insights. The rewards, however, are in terms of customer loyalty, brand strength, and business growth.

 

Would you like to make a quantum leap in your business by making small, atomic changes, such as reducing your information investments yet still knowing more about your customers; increasing your innovation success

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The Customer Retention Goldmine: How to Keep Customers Happy and Drive Exponential Growth

Posted on by Denyse Drummond-Dunn

Customer retention is essential for the long-term success of any business. 

We all know happy customers are more likely to make repeat purchases, provide positive reviews, and refer others to your business. But how do you keep customers happy?

Here are some of the best strategies to retain your customers. Check them out and apply any you are not currently actioning, to enjoy improved growth for your business:

 

1. Provide Excellent Customer Service: This is the starting point if you want to keep your customers happy. Offer fast, helpful, and personalized support whenever they need it.

Respond to inquiries and complaints quickly and resolve issues to the best of your ability.

In fact, go beyond just satisfying them, and find ways to surprise and delight them with a little added and unexpected attention. (more on that later)

  • Customer service is a critical aspect of retaining customers. According to HubSpot research, 93% of customers are likely to make repeat purchases from companies that offer excellent customer service.
  • On the other hand, 33% of customers would consider switching after just one instance of poor service according to American Express.
  • Responding to customer inquiries within an hour can increase customer retention rates by up to 56% (Harvard Business Review).
  • Nearly half of all customers (46%) expect companies to respond to their emails within 4 hours, while 12% expect a response within 15 minutes or less.
  • However, 90% of customers view an instant response as either crucial or very important when they need customer service assistance. Of these, 60% consider instant to mean within 10 minutes or faster.

 

2. Build Strong Relationships: Engage with your customers on social media, through email newsletters, or other communication channels. Show appreciation for their business and make them feel valued. Businesses that build strong customer relationships are likely to see increased loyalty and repeat business.

  • According to a study by Bain & Company, increasing customer retention rates by 5% can lead to a 25% to 95% increase in profits.

 

3. Consistent Communication: Keep your customers informed about new products, promotions, and updates. Regularly engage with them to maintain their interest. Find ways to keep them involved with your brand even when they are not consuming/using it.

  • Consistent communication helps to keep customers engaged and informed about your products and promotions. Brands that communicate with customers regularly witness a higher retention rate compared to those that do not (SuperOffice).

 

4. Quality Products and Services: Deliver high-quality products and services that meet or exceed customer expectations. Satisfied customers are more likely to return.

  • High-quality products and services contribute significantly to customer satisfaction. A study by the Customer Contact Council found that customers who had the best past experiences spend 140% more than those with poor experiences.

 

5. Loyalty Programs: Implement a loyalty program that rewards customers for repeat purchases. Offer discounts, exclusive offers, or points that can be redeemed for future discounts or free items.

  • Loyalty programs can boost customer retention. According to a study
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