Customer Centricity Explained

Customer-centricity puts the customer at the heart of everything the business does. A customer-centric strategy entails reorganizing a business, its data, its technology, and its culture to serve the most valuable customers more effectively.

So it’s not just about exceptional customer service, although of course that’s something we would encourage.

It’s a strategy that rethinks every aspect of the business to place the customer at the center.

And it entails tough choices. Because who is “the customer”?

It’s not just every single customer. Our definition references “the most valuable customers”.

So a customer-centric strategy uses data to understand customer segments and their demands. Some may require more attention than others, some may want more choice than others, and yes, some will be more valuable than others.

It is also a forward-looking strategy, rather than always seeking to respond to whatever the customer wants today. Based on the segments with the highest future potential, a company can decide on which products to invest in, for example.

#customerstrategy #customercentricity #strategy

In this video:

00:49 What is customer centricity? A definition
01:57 Customer centricity versus product centricity and brand centricity
04:27 A quick recap: Customer centricity


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