What is customer-centric marketing?
Customer experience is a make-or-break factor when it comes to your customers’ satisfaction; often, as reported in this article published by Walker, it can be more valuable than the product or service itself.
The experience of your customers begins from the moment they see your ad while browsing the internet or while riding the subway. It continues when they click on your landing page, and try out your service. And it goes all the way to when they contact your customer support service with issues or questions. Factors like a great website and an outstanding customer service can contribute to making your customers’ experience with your company and your product a good one.
The savviest businesses out there have understood the importance of customer experience and have therefore shaped their business model around their current and target customers. This marketing technique is called “customer centricity,” or “customer-centric marketing.” This technique is about prioritizing customers over other factors.
How can you build on customer-centric marketing? You can start with focusing on Customer Experience, commonly known as CX. Consumers have a positive CX when the product/service meets their expectations and the overall process of purchasing it or interacting with your company goes smoothly. However, in order to properly cater your clientele, you need to know your customers pretty well; and to do that, you need to rely on solid data sources and analytics tools.
What are the benefits of customer-centric marketing
What’s the advantage of adopting this type of marketing?
First of all, when customers notice how much you care about their experience and their overall satisfaction with your product or service, they’re likely to come back to you in the future—increasing brand loyalty. Happy customers are also likely to write about their positive experience on social media and in online reviews. Reviews are important, as—according to this study—78% of shoppers say they trust online reviews as much as personal recommendations.
Secondly, by listening to what potential customers are looking for allows you to develop a product that is more likely to fill a whitespace in the market, or to enhance your existing products in a way that fills the gap between what you’re offering and what your customers are looking for. Listening to the “Voice of the Customer” is the key here, because businesses and executives who refuse to hear what their customers think or say are probably not going to survive today’s market, which is fast, aggressive, and extremely competitive, given the many options available to consumers in every sector.
4 ways you can make your business more customer-centric
- Shape your product around consumer needs. As you develop your product or service, leverage on market research and sentiment analysis to understand what customers say is missing in existing products and services.
- Invest on website usability. For many businesses, the website is everything! Make it easy for customers to click through the pages, view products/services, and check out. Make it super easy to find a way to contact customer support or to view product details: customers can easily get annoyed if they notice it’s hard to find something as obvious as customer support on your website.
- Make your content marketing relevant. Content is clearly meant as a marketing tool, but it should serve a purpose beyond mere advertising. Content should be compelling, well-written, and useful.
- Excel at customer support. Make yourself accessible, easy to reach, and helpful. A research commissioned by Verint showed that 88% of consumers prefer to deal with a company with a good customer service rather than a company with a better product.
Why is it crucial to invest in NLP for customer-centricity
We’ve established the relevance of offering a positive customer experience. But how can you measure the quality of your CX and the overall customer satisfaction? How can you listen to the Voice of the Customer? You obviously need data, and then you need analytics tools to understand the data.
That’s where natural language processing (NLP) and artificial intelligence, performed by companies like Revuze, come into play.
Consumers express their opinions and feedback about products and services every day through a wide variety of manners, such as online reviews (on websites like Google, Amazon and Yelp), comments on Facebook and YouTube, online surveys, and phone surveys. Text analytics tools can help you analyze all of that data and extract useful information from it.
Text analytics can help you extract the sentiment behind any piece of writing that contains customer feedback. Sentiment analysis is the automated process companies like Revuze use to classify statements as positive, negative, or neutral, and understand what kind of judgment customers are expressing without going through each and every review or comment manually, which would take months of work and would cost you way too much money.
Once you perform sentiment analysis, you can start identifying patterns and ultimately draw conclusions about your customers and your product/service. And that’s when you can truly start understanding who your customers are and what they’re looking for, so you can make your business model more centered around them.
Revuze’s AI-powered solution enables brands to quickly understand their product and customer satisfaction issues, and to automatically score and rank their brand’s performance relative to its competitors and to the market.