Building customer-centric products
The pace for building and developing products is increasing exponentially due to competition, technological enhancements and consumer demands. As a result, companies are abandoning slow, antiquated product development methods and are now embracing approaches that produce favorable success rates. One of these approaches is building customer-centric products to improve adoption, utilization and loyalty. In fact, research by Deloitte and Touche revealed that organizations that are customer-centric are 60% more profitable than those who have not set the same level of customer focus.
Understanding your customers’ true motivation, purpose and goals can be the difference between failure and success. Similarly, having your customers top-of-mind helps guide decisions that are geared toward their needs and wants. Whether your organization has fully embraced this strategy or in the early adoption stage, here are a few tips that could positively affect how you approach customer-centricity.
Customer success as your barometer for goals
The best way to map your product goals is to examine what success means to the customer rather than to the company. It doesn’t mean ignoring the variables comprised within the organization’s financial goals; it means measuring product efficacy through your end user. For example, while a 10% increase in product adoption is a solid goal, if the end result after meeting that mark reveals only 1% of the new customers saw an increase in sales, is that considered successful? Was that the right goal to begin with? Frame the goals to provide value to your customers. They, in turn, will view the company more than just a product, but as part of their core business.
Dedicate a team that represents the voice of the customer
At Kabbage, there is a Customer Success Team whose mission is to analyze the end-to-end customer journey and identify areas of improvement to help us get closer to a frictionless customer experience. To measure that experience, Kabbage has set up Key Experience Indicators (KEIs). The KEIs produce quantitative scores that essentially serves as a baseline so the organization is able to track progress and predict outcomes based on the formulated insights. The team does not operate independently; in fact, they break down silos to ensure information is shared cross-functionally. More importantly, the dedicated Customer Success Team serves as an advocate for building customer-centric products.
Democratize information company-wide
To deliver a truly exceptional customer experience, the organization needs to have buy in down to individual employees. Developing a cadence to reveal customer findings and encouraging conversations further enhances the value of adopting a customer-focused mentality. Even though there’s a designated team to provide that information, employees within the organization should be encouraged to contribute either as an individual or as a group. Who presents the information is less important than how it’s presented. Make sure the information makes sense and the insight is understandable company-wide. Leave the technical report to the tech-savvy crowd and produce a report that is clear and actionable for the entire organization.
Key takeaways
- Always make sure your customers are factored into your decisions and that their voices are heard. After all, they are the ones using your product.
- Avoid creating a situation where decisions are made based on surface-level problems revealed by customers. Find out the root of the problem, and the solution will have a greater impact.
- Set up a dedicated team that has an intimate understanding of the customer journey across the product life cycle. They’ll serve as a catalyst for change if the organization has not yet embedded a customer-first mindset.
- Though the emphasis is on the customer, there will be multiple touchpoints with different teams within the organization to improve the product experience. It’s extremely important to present actionable insights in a way that everyone, regardless of technical knowledge, can digest, act on and measure.
