Customer Centricity CRM

Customer Centricity
Presented By:-
Kartikay Gulani- PGP21079
Nishtha Srivastava- PGP21114
Muskaan Solanki-PGP21105
Abhishek Kumar- PGP21004
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What is Customer Centricity?

Customer Centricity Customer centricity is a mindset and a way of doing business that
focuses on creating positive experiences for the customer
through the full set of products and services that the enterprise
offers.
• It generates: greater profits

increased employee
engagement
customer satisfaction
• An approach to doing business that focuses on
creating a positive experience for the customer by
maximizing service and/or product offerings and
building relationships.
• Putting customer focus at the heart of

everything you do, in order to achieve customer
satisfaction and loyalty.
Ways to built Customer-centric culture
At most companies the culture remains product-focused or sales-
driven, or customer centricity is considered a priority only for certain
functions such as marketing. To successfully implement a customer-
centric strategy and operating model, a company must have a culture
that aligns with them and leaders who deliberately cultivate the
necessary mindset and values in their employees.
Few Consumer-centric cultures:
01 Empathy is one of those buzzwords that sound really good, but very few companies actually understand what Operationalize
it means, much less practice it. Essentially, customer empathy is the ability to identify a customer’s emotional
customer empathy
need, understand the reasons behind that need, and respond to it effectively and appropriately.
For every employee to adopt a customer-centric mindset, every employee must understand the organization’s
02 Democratize customer
customers. Adobe Systems has opened up access to customer insights for all employees. It doesn’t store up
customer understanding in the sales and marketing groups and then expect other departments to focus solely insights
on their functions.
Companies need to develop ways for employees to interact with customers directly, even in “back office”
03 Facilitate direct interaction
functions. After all, every employee impacts the customer experience in some way, even if indirectly, so every
with customers
employee can benefit from interacting with customers to better understand them and learn about their
successes and challenges.
Managers will be motivated and equipped to cultivate a customer-centric culture if they know if and how it Link employee culture to
04
impacts results, so organizations should ensure they establish and track the link between culture and customer outcomes
customer impact.
Benefits:- Increases
customer
satisfaction
Improves
Gives a
relationship
competitive
with
edge
customers.
Benefits of
Customer
Centricity
Reap the
Increases
profitability
existing
& growth
customer
rewards for
value.
long term.
Reduces
customer
churn rate.
Challenges of Consumer Centricity
Client-centric, also known as customer-centric, is an approach to doing business that focuses on
creating a positive experience for the customer by maximizing service and/or product offerings and
building relationships.
Few toughest challenges to confront:
Multi-products Multi-regions Multi-channel Measuring performance
It’s rare to find an Let’s take the example of

The last and final challenge
Many companies
organization that only offers Coca-Cola. The company’s
divide their CRM on your way to becoming
one product. Think organizational structure is
teams according to more customer-centric is
Microsoft, with its Xbox, built across the different
channels – organic measuring the performance
Skype and Office, or a small regions. Each region has its
vs. paid, social vs. of the changes you’ve
insurance company that own CRM team, and each
website, mobile vs. conducted.
CRM team has its own Head
offers car, home and personal desktop etc. In such a
of CRM. The question is,
insurance. In most cases, you case, you might be Organizational changes
whether the difference
offer a few products and your targeting users on impact the whole team.
between the regions justifies
clients consume a few of different channels, Just like in a scientific
the existence of so many
your products. Now here’s instead of harnessing experiment where you
teams. Is there enough
the question you need to ask each channel’s don’t really know whether
business value to dedicate a
strengths and a certain variable caused
yourself – are your products regional team?
weaknesses to a the chain reaction,
so inherently different from measuring performance of
larger strategy. How
one another? should you do it? structural changes takes
time and effort.
Ways to Measure Success of Customer- Centricity
CHURN RATE
• Acquiring new customers can cost up to 5x more than keeping existing customers
• A 2% increase in customer retention has the same effect on profits as cutting costs by 10%
• On average, companies lose approx. 10% of its customer base each year (also known as customer churn)
NET PROMOTER SCORE
NPS, or Net Promoter Score focuses on uncovering customer loyalty by asking only one, simple question:
Promoters (9-10): These people are in love with your product or service and are likely to refer you to potential
buyers.
Passives (7-8): These people who rate you a 7 or 8 are content with being a customer of your business, but are the
most likely to switch to a competitor should they find a new or better product.
Detractors (0-6): These people are not happy with your product or service and are likely to damage your brand.
Customer lifetime value (CLV)
For a customer-centric business, the most valuable "asset" is their customer base.
CLV measures the amount of revenue a customer contributes to your business for as long as they are
a paying customer. It starts with their first purchase and ends when they stop doing business with you.
THANK YOU

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Customer Centricity

What is Customer Centricity?

• It generates: greater profits

• Putting customer focus at the heart of

Multi-products Multi-regions Multi-channel Measuring performance

It’s rare to find an Let’s take the example of

NET PROMOTER SCORE

Customer lifetime value (CLV)

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