A truly successful customer-centric culture today is one that (you guessed it) puts the customer front and center in every single facet of the business: from one’s marketing program and sales strategy to product development and customer service.
And the reasons for companies across industries (retailers, publishers, etc.) to ensure a consistent customer-centricity focus today are many:
- “Well-understood and -served” customers are 643% more likely to be satisfied than those who feel somewhat or entirely ignored by brands from which they buy.
And with that customer understanding comes greater customer loyalty and satisfaction:
- Satisfied customers are 713% more likely to buy again than dissatisfied customers.
But, as you might’ve already suspected, customer-centric organizations aren’t constructed overnight. Nor are they built by one team with a given organization.
Rather, it takes all teams to help build better relationships with their customers, turn them into happy shoppers and engaged subscribers, retain those individuals’ business over the long run, and — in turn — become a completely customer-centric business.
In addition to working cross-departmentally and building new processes to accomplish this feat, businesses of all kinds need one particular type of technology to go the extra mile and achieve true customer centricity: a customer data platform (CDP).
Evaluating customer-centric cultures (and why some brands fail with theirs)
Before we delve into why the CDP is essential to execute customer-centric marketing and developing a stronger company culture , let’s address the obvious questions:
- “What is customer centricity? And what does customer-centric culture mean, exactly?”
It’s not just marketers and members of other growth-focused teams asking these questions today. Even executives at big businesses (think Fortune 500 companies) want to know what it truly means to have a customer-centric company today.
Instead of providing a basic customer-centric definition, let’s explore why many companies often fail with their attempts to craft customer-focused strategies.
Denise Lee Yohn, author of What Great Brands Do, a how-to on brand-building principles, put it best in a guest piece for Harvard Business Review:
- “The volume, velocity, and variety of customer data that now exists overwhelms many organizations. Some companies don’t have the systems … to segment and profile customers. Others lack the processes and operational capabilities to target them with personalized … experiences.”
Translation: Many businesses just don’t have the right tech to support a customer-centric engagement strategy for marketing (e.g., social media managers, acquisition/retention specialists) and other teams (e.g., customer service, product and experience).
And that’s what makes the CDP such a valuable solution for companies today.
Understanding your customers’ unique behaviors, wants, and needs
Each individual has her own unique reasons for buying from a brand. From convenience and price to quality, the list of factors that influence consumer purchases is a long one.
There are many ways for business users to discover what gets valuable customers (e.g., those with high average order values or frequent purchases) to keep coming back.
But your best bet to understand what creates satisfied buyers — and indicators as to whether your brand has a customer-centric culture — is to track their customer journeys:
- How often they browse your website, open your app, and engage with your emails
- Which marketing activities lead to purchases (e.g., targeted ads, real-time messaging)
- Their post-purchase experience (e.g., if they left a review or filled out an NPS survey)
Your technology stack is the source of all this customer information.
But a CDP amplifies the value of that data by bringing it all together so you can you can segment, analyze, mode, and activate all this data from a single user interface.
That makes it far easier for you to:
- Evaluate the customer experience for high-value buyers (i.e., what their browsing and buying habits indicate about their satisfaction and propensity to remain loyal)
- Determine what causes previous patrons to stop purchasing or subscribing (e.g., tactics and techniques implemented that were seeming turn-offs to customers)
- Plan new or revised approaches to connect with and convert customers (e.g., refined real-time messaging to particular segments or individuals based on their activity)
Gaining insights into what matters to your buyers — competitive pricing, high-quality website UI/UX, etc. — is how you can differentiate your business from others.
A pure-play CDP allows you to quickly and efficiently discover customer insights at any time, activate that data whenever and wherever you need, and share data with other teams across your business who can benefit from them in their respective roles.
Mastering customer-centric marketing with a pure-play customer data platform
When you hear “customer-centric marketing,” you might automatically (and justifiably) assume the success of such an approach lies entirely on you and your marketing team.
First, you need leadership to provide your team (and all others within your organization) with the proper martech investments that allow you develop a customer-focused strategy.
The ideal customer-centric approach factors in buyer behaviors and brand sentiments — ideally acquired through consented first-party data — and informs future messaging.
An eConsultancy and Google survey shows exactly why first-party data has become the quintessential resource for brands looking to build customer-centric cultures today:
- 92% of the top marketers said it’s “critical to their growth” to regularly investigate first-party data and discover what customers think about their brands.
- Leading businesses are 72% more likely than the non-leading brands to strongly agree that improving first-party data quality and quantity is crucial.
- 57% of marketing leaders indicated first-party data secured through owned channels is the key to being a truly data-driven organization.
There are thousands of marketing technology vendors that offer organizations like yours the ability to store and organize first-party data. But it’s only the customer data platform that allows you to do all that and activate that data with ease.
Thus, it’s best to make a business case to leadership for a CDP over legacy systems.
Once you have a CDP in place to aid your customer-centric marketing approach, you can:
- Achieve the single customer view by unifying all data in dynamically updated profiles
- Segment those individuals based on various criteria, like products and services bought
- Develop predictive models to understand churn propensity and customer lifetime value
Like most businesses today, B2C or B2B, your progress and success with customer-centric marketing makes the jobs of your non-marketing colleagues significantly easier.
Prioritizing customer service to boost customer experience and satisfaction
A CDP can not only provide you with often-hyped, but nonetheless crucial 360-degree view of customers, but also ease the output required of your service or support team.
The company streamlined its checkout process for a Black Friday campaign using dynamic display messages that guided buyers through the purchase process. The results?:
- Substantial sales (33% greater than the year before) and zero issues reported regarding how customers could take advantage of the deal in the listed time frame.
“Customer service … didn’t receive a single email or call from customers confused about how to get the promotion,” RAEN Optics Digital Marketing Manager Steven Johnson said.
“This had been a problem for us in the past before we began using BlueConic.”
Optimized channels and messaging based on first-party data in a central database. That’s just one avenue to better customer-centric selling. (Not to mention a key way to make the lives/work of your service and support representatives less stressful.)
Especially around the hectic holiday season, which is an important period for many B2C organizations, in terms of meeting target revenue goals.
While marketers are meant to own CDPs, that doesn’t mean customer service representatives can’t contribute some of their own first-party data to the system.
With no field limits and the ability to bring in a variety of customer data, a platform like BlueConic can only increase in value with additional data points collected.
By integrating CLV files from their support software into their CDPs, service reps can enhance the dynamic profiles for all customers within their unified database.
This, in turn, provides even more pertinent and timely details regarding buyers and subscribers that can make their marketing counterparts’ jobs far easier and more efficient.
Improving your customer-centric marketing with a leading CDP
Achieving a customer-centric culture doesn’t happen right away. It takes a team effort. But, in earnest, it starts at the very top. As Marketing Week columnist Ben Davis wrote:
- “Customer centricity is both an art and a science. User research is required, leaders need to champion the customer, and organizational structure needs to ensure product-centric teams do not result in a disjointed customer journey.”
Once leadership has bought into the idea and benefits of customer centricity not just as an idea the company should buy into, but one that can impact and inform every department to offer the best CX possible to their audience, they’ll slowly but surely see the effects of their efforts on their bottom lines.
After this buy-in, all that’s needed is the right technology to execute this strategy.
While everyone at your brand can profit in some way, shape, or form from a CDP, it’s martech that is, unsurprisingly, meant to be owned and operated by marketing.
Your C-suite may’ve put some pieces in place for a customer-centric culture. Now it’s on you and your team to inform them how the tech is crucial to implement such a culture.
Download our customer engagement eBook to learn how your business can build a truly customer-centric culture with BlueConic’s pure-play CDP.