The only people that make money for your business are customers, they are the ones that bring the money to the table and customer-centric marketing stems from this. As with product development and content marketing the focus of customer-centric marketing is on the customer and not elsewhere. In order to learn to place this focus on your customers within your marketing, it’s important to understand why.
Customers Bring All the Money to the Table
To many this must seem like an obvious statement, but companies in my experience have a habit of forgetting the fact that the only way to make money is to get customers to buy. Customer-centric marketing always remembers this fact.
Repeat Customers Bring Most of the Money to the Table
Customer-centric marketing understands that 80 percent of all revenue is generated by twenty percent of your customers and it remarkets constantly to these customers.
Customers Should Be Divided into 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 purchased when they entered your product funnel, you can increase repeat sales and better marketing to each segment.
Customer-centric Marketing is Focused on the Individual
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.
Leads to Increased Customer Satisfaction
Customers are much more satisfied after their purchases when they have made a choice to buy based off of customer-centric marketing messages. The messages don’t use sales tricks and aren’t hyped, so the customer feels as if they have had enough information to make an informed decision.
Assists with Developing Long-Term Economic Viability
The importance of customer satisfaction shows in the marketing messages 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 based on a better understanding of the customers’ requirements and these produces sway decisions.
Values the Customer and Respects Their Worth
A company that uses customer-centric marketing understands and knows at its core, that the only way a business makes money is if a customer purchases their product or uses their services and all of their marketing reflects this fact.
Companies who participate in customer centric marketing don’t make promises to their customers that they cannot keep. In fact, these businesses always under promise and over deliver. Customers know that when you tell them something, you do it and stand by what you say.
Customer-centric businesses 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 become extremely loyal to the business. It’s only when the business fails to remain customer centric that the customer moves on to someone else and the businesses loses that customer.