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The term customer-centricity, which is based on the concept of an organization orientating itself around the customer, has been around for the best part of half a century but in most cases has never been realized. There are a small handful of companies that have started the journey but realistically only a small minority can claim any degree of success. So why is it that not more companies have embraced and successfully delivered on a customer-centric philosophy? After all it would seem to make sense and there is strong evidence that success equates to increased commercial return, so why hasn’t it happened?
This paper sets out to portray just one key message - Recognition of the ever increasing benefits and need for an organization to establish and support Customer Governance and Customer Intelligence.
Customer Governance - the establishment of a customer contact strategy is the first step and it ensures that the customer is engaged in a coordinated and consistent way across all business units and across all interactions, wherever or whenever they take place. This provides the opportunity for improving customer experience, achieving customer satisfaction and ultimately enhancing long term customer value.
Customer Intelligence - the combination of customer data and predictive analytics is the cornerstone for profitable growth. It not only enables effective customer interactions but it also optimizes customer value and ultimately provides the framework for an organization’s vision and direction.
So how does an organization embark on the customer-centric journey?