Customer-centric marketing (or customer-focused marketing) is an approach to doing business that focuses on the needs, wants and expectations of customers. The customer, their needs, and the balance of WHAT the business can afford from marketing tools. The goal of this approach is to create and maintain a relationship with customers that will ensure their satisfaction and loyalty and bring long-term benefits to the company. Most importantly, it’s about being flexible with the customer at all times. Our times are changing very quickly, and what suited customers yesterday may not suit them at all today!
Real-life examples of customer-centric marketing:
Personalised recommendations: Many online shops today, use data on customer purchases and browsing to offer personalised products. A huge number of metrics are collected to recognise, get a feel for what the customer is interested in!
Stop Mass Action: Today, at a time of too much information overload -losing a potential customer is very easy. Unfortunately, many companies do not realise this and continue to annoy with spam.
Loyalty programmes: Companies such as Starbucks offer loyalty programmes that reward customers for repeat purchases.
Quality customer service: Companies that don’t ask too many questions on returns (b2c of course) are known for their high turnover and profitability, and long-term loyal customers. Of course marketers have no authority to impose accounting policies on businesses, but sometimes the problem is not the advertising, it is the company’s principles!
Benefits of customer-centric marketing:
Increased customer satisfaction.
Increased customer loyalty and retention.
Improved reputation and image of the company.
Increased sales and profits through repeat purchases and customer recommendations.
Better understanding of the market and customer needs.
Using a customer-centric approach helps companies become more competitive and successful in the long term.
Brand value is a financial evaluation of a brand, reflecting its impact on consumer preferences and company profits. It is a complex concept that includes both tangible and intangible aspects that determine the value of a brand in market conditions. Brand value is often considered as part of a company’s intangible assets and can have a significant impact on its overall market capitalisation.
Promotes customer engagement and retention: A well-designed customer journey can help in developing strategies that increase customer engagement and retention for a long time.
The basic principles of customer-centric marketing include:
Customer research: Understanding the target audience, their needs and behaviour. This includes conducting research, surveys and analysing data. Updating data.
Developing products and services that meet or exceed customer expectations by offering unique value. Maximise customer needs, creating new meanings. Personalisation: Adapting offers and communications to specific customer segments or even individual customers to satisfy them. Broadcast openness and friendliness. Create long-term mutually beneficial collaborations, especially in b2b.
Customer Experience: Ensuring a positive and memorable experience at all stages of interaction with the company, from first contact to post-sales service. Paying particular attention to first impressions. In a highly competitive environment this is particularly important. Sometimes marketing works, advertising works, and managers interrupt the stages of co-operation.
Continually receiving and analysing feedback from customers to improve products and services. Being organised and tactful when dealing with feedback.
Engagement: Actively engage with customers through various communication channels, including social media, email, phone calls and face-to-face meetings. Of course in accordance with the target audience.
Aiming to build long-term partnerships with customers through loyalty programmes, quality service and personalised offers.
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