Customer Centric Business Approach — The New Corporate Trend

The customer centric business approach refers to the business process wherein the key importance in given in achieving customer satisfaction at the point of sale and through after sales services in order to increase the profit margins and gain the competitive advantage. However, it is not merely about customer service. There are a lot of elements associated with the customer centric business approach.

• The leadership of the business should be focused towards customer centric planning. This is propelled by understanding the market trends and customer behavioral pattern which influences the decisions.
• The business front line should be empowered with the customer related information and other relevant data.
• The business approach should be dedicated towards making the customer experience memorable in terms of convenience and enjoyment. This creates a positive relationship with the consumers that increase engagement and loyalty.
• Reward programs and loyalty benefits form a crucial part of this business approach. Giving some benefits on purchases makes the customers come back for more. This is essential towards brand recognition.
• Constant communication with the consumers through surveys and feedback is important. This helps in understanding the needs of people and design product line or offers accordingly.
• Offers and promotions are an important part of customer centric approach. This helps in attracting fresh customers, rejuvenate the existing base and induce purchasing urge.
• The price of the commodities and services has to be in line with the customer requirements and market trends.

With all these characteristics there are certain major challenges of the customer centric business approach.

• This is the age of digitization. Customers are becoming smarter with the extensive usage of smartphones and internet. Since, every notable company now has mobile apps for their product line display, price comparison online is a common trend. Hence the company needs to stay updated on prices and discounts by competitors.
• Data and predictive analysis are the most fundamental tools for the customer centric business approach. However, churning data accordingly becomes challenging at times.
• Lastly the major challenge lies in differentiating the sales increment tendency from the customer centricity. Often most of the companies aim solely at increasing revenue rather than looking in to the customer requirements.

The customer centric business approach requires attention across various elements. But the most fundamental part for a business to have such an approach is to have the right resources who can add to the cause. Right from the senior management to the operations level, an effective workforce is very important is this regard. The recruitment firms can be beneficial in hiring such candidates who can be effective in designing and formulating policies and plans for this approach. Detailed HR services, recruitment process outsourcing, candidate screening can be done effectively by such recruitment firms for an efficient workforce. Customer centricity is a systematic approach that needs to be designed and implemented step by step in order to achieve the desired results. An effective and informative employee base is crucial for successful implementation of such an approach.