Understanding Customer-Centric Marketing
The entire idea behind customer-centric marketing stems from the fact that only customers make money for your business. Because of that, all marketing just like product development and content creating should place the focus on them instead of elsewhere. In order to learn to place the focus on the customer in marketing, it’s important to understand why.
1. Customers Bring All the Money to the Table – It seems like an obvious statement but sometimes companies forget the fact that the only way to make money is to get customers to buy. Customer-centric marketing always remembers this fact.
2. Repeat Customers Bring Most of the Money to the Table – Customer-centric marketing understands that 80 percent of all purchases are made by the same customers and remarkets to these customers via email lists.
3. Customers Can Be Divided in Segments – By segmenting customers into different groups based on various criteria such as demographics and where they found out about your products or which product they entered your product funnel with, you can increase repeat sales.
4. Is Focused on Individuals instead of Groups – The individual is important when it comes to customer-centric marketing. This is led by research into the customers that purchase and by creating personas that represent the customer.
5. Leads to Increased Customer Satisfaction – Customers are more satisfied after their purchases when they made a choice to buy based off customer-centric marketing messages. The messages aren’t hyped, so the customer feels as if they had enough information to make a sound choice.
6. Assists with Developing Long-Term Economic Viability – The importance of customer satisfaction shows in the marketing statements that a business makes to potential customers. They don’t seek to use any of a customer’s behavior to try to sway purchase decisions; instead they craft products that sway decisions.
7. Values the Customer and Respects Their Worth – A company that uses customer-centric marketing knows that the only way to make money is if a customer purchases their product or uses their services. All marketing reflects this fact.
8. Keeps Promises – Companies who participate in customer centric marketing don’t make promises to their customers that they cannot keep. In fact, they always under promise and over deliver. Customers know that when you tell them something, you stand by it.
Customer-centric companies seek to create communities that show how they value the customer above all else. They have an open-door policy with their customers where the customers know for sure that they are important and come first. When customers feel appreciated they end up very loyal to the brand. It’s only when the brand fails to be customer centric that the customer moves on to the competition and loses brand loyalty.