Many large corporations, including McDonald’s, Under Armour, CVS Health, Walgreens and United Natural Foods, have been adding a new position to their executive ranks. This position is being called the Chief Customer Officer. The tasks for this professional include ensuring that the company is in touch with their consumer, ensuring the consumer’s needs are being met by the company, and helping the company deliver better customer experiences and relationships. Customer-centric business transformation is a must in the business world at this time. Here are a few of the reasons why.
Customers Have Many Choices When It Comes to Picking Businesses or Products
One of the reasons why business transformation should always be customer-centric is because customers have so many choices when it comes to picking businesses or products. For every brand out there, there are multiple companies out there that offer a similar product or service. Consumers can easily hop online and read reviews to find out what company other consumers feel treats their customers well and that customers like. If your business is not appealing to customers, they will do business with your competitors. According to a survey of 3,000 CEOs by IBM Institute for Business Value, providing a better customer experience and forming better relationships with customers are their top priorities.
Customers Crave Choices and Options
Another reason why your business should always be customer-centric is because consumers are picking businesses that offer them choices and options. The pandemic has shown just how many options grocery stores have for consumers. They have drive-up and go options, delivery options, options where you can scan your own groceries in-store or traditional check-out with a cashier-options. Having more options gives your consumers the ability to make the right decisions and choices for their situation. The pandemic has also shown that consumer decisions can change based on their needs. One person may prefer in-store check-out options but may need delivery if they are sick. Transforming your business to accommodate your customers and offering a variety of choices and options can make your business more appealing. Companies that prioritize customer experience increase their sales by up to eight percent compared to their competitors according to an article by Forbes.
Customers Want to Support Businesses Where They Feel Heard and Considered
Finally, business transformations should always be customer-centric because consumers are more likely to support businesses where they feel heard, considered, represented and treated well. Getting feedback from your customers and then using that feedback to make transformational changes to your business is a must in this day and age. If your business fails to adapt and change, your business could very well get left behind. Customer feedback can clue you into what customers want and expect from your business, giving you a road map to pleasing current and future customers. According to a study, conducted by TechJury, 73% of customers say that their customer experience helps drive their buying decision.
Business transformation always needs to revolve around the customer. Customers expect top-notch customer service, and they select businesses based on ease of doing business, quality and how they are treated. However, it can be difficult to tell what changes need to be made to better your business and increase customer satisfaction. Here at Starr & Associates, we can help to analyze data and determine what changes will have a positive impact on both your business and your customers. Contact us today to learn more or to get started.