Marketers are having a hard time when it comes to customer obsession. The problem is that, despite having access to massive amounts of rich first-party data, far too many brands focus only on their competitors, and not customers.
Companies that are customer-obsessed dig deep into their data as their time and resources allow. They look at customer aspirations and know what they want their customers to achieve when dealing with their product or service.
Customer-obsessed organizations had 2.2 times better employee engagement, 2.2 times better customer retention, and 2.5 times higher revenue growth than companies that weren’t customer-obsessed, according to a 2021 Forrester Research report “The State of Customer Obsession.” However, only 9% of organizations believe they are truly customer-focused.
Customer obsession trumps tried-and-true principles and catchphrases. Everything in the company, from top to bottom, is aimed at creating a positive customer experience. As a result, customer-centric businesses develop relationships built on trust. And the company grows as a result of these relationships.
Being Truly Customer-Obsessed
Being customer-obsessed is not the same as being competitor-obsessed. Companies focused on their competitors wait for others to make the first move. Customer-centric businesses pay attention to their customers’ needs and respond by innovating to improve their experience.
In today’s B2B landscape, companies must put the customer at the heart of their entire operating model — talent, structure, culture, KPIs, and technology — to outperform the competition. That’s what is needed to be truly customer-obsessed.
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Create Unique Codes for Each Customer
Customer focus must start at the top, with the CEO leading the charge, not just marketing, sales, and product development. Every phase, from presales to sales to post-sales, must focus on providing a positive customer experience.
In any customer-obsessed strategy, rewarding mechanisms like discount codes for loyal consumers can play a vital role.
Sending a discount coupon code to a restricted set of people, such as repeat customers who could be interested in a new or different service or product, fosters loyalty while also giving the company more control over the number of product units sold at the discounted price.
Businesses can develop unique codes for various customers if their digital platform enables it. This will allow them to track who is utilizing the coupon codes and build some predictability as to which customers are more likely to purchase with this type of incentive.
Meeting Customers Where They Are
Companies can use multi-channel marketing to spread the word about promotions and reach out to new and existing customers, but they must assess their success regularly. They can also use email to get current and loyal consumers excited about the promotions early on.
Businesses can use social media to market their offers to those interested in their companies. Social media is also essential for communicating with customers and obtaining customer feedback.
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Customer obsession manifests itself in various ways: A customer loyalty program is the greatest solution for one company, for instance. Others may have to focus on increasing consumer satisfaction first. Many will have to spend more money on customer service. In all circumstances, being customer-obsessed is a long-term strategy that, when properly implemented, may help companies achieve long-term success and growth. Customer obsession is crucial to business success, as demonstrated by some of today’s top companies; it’s a mindset that all marketers should be eager to adopt.
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