You should be convinced in the benefits of going CoCo by now. If you have no idea what CoCo (customer-obsessed company) means, please read our previous entry first. Because we’re about to get down and dirty with our 10 item action plan for the best customer-obsessed operations.
In the Age of the Customer, customer-centricity is no longer enough. Your customers are always one, two or hundred steps ahead of you thanks to technology and digitalisation. Brands are now demonstrating a new mentality to combat the customer experience challenge: customer-obsession. In this new business cycle, the power has shifted back to the people, and engagement means everything. As Pisano, we know this very well from our own CX platform and how people react to it with gusto.
How do you become a CoCo then? A successful CoCo follows this 10 item action plan:
1. Focus on customer satisfaction retention more than customer acquisition: In a 2013 Forrester survey of global CMOs, 63% listed acquiring new customers as their top priority, while mere 22% said retaining current customers was their top goal. This is no-go. According to the Gartner Group, 80% of your future profits will come from just 20% of your existing customers. CoCo’s don’t obsess over wanting more; they appreciate and take care of what they have. Let your brand advocates carry on the new customer acquisition. They’re the best marketing and sales channel you have.
2. Respond to customers and predict their next actions: CoCo’s create a relationship of trust. They use customer data from multiple sources to get to know each customer. Then they demonstrate their knowledge by predicting and suggesting next best actions and purchases to their customers in customer-friendly ways. Be informed and don’t push the limits on your suggestions. Successful CoCo’s gain customer loyalty this way.
3. Stay alert and connect using omnichannel: Learn which new website/gadget is becoming popular; that’s what your customers will use to contact you. CoCo’s overcome technical details and create seamless CX across the standard plus emerging channels their customers are using every day. Keep both of your eyes on technological innovations and melt their usage in one pot for the best customer journey.
We discussed what omnichannel strategies are and how omnichannel is rocking the CX world up in a recent entry. Take a look at it here.
4. Align branding strategy with the CX strategy: CoCo’s don’t just chit chat about being focused on their customers; they do whatever they can. A CoCo sets its CX strategy parallel to its brand strategy. This is absolutely necessary in creating consistent positive customer/brand interactions and conformational messaging. Deliver your brand promise in CX.
5. Gather insights for better products: Customer intelligence is number one resource these days precisely because of its ability to spur a business towards improvement. CoCo’s don’t just listen to and record feedback; they act upon it to develop their products, services and brand their customers desire.
6. Invest in CX improvements: Marketing strategist David Cooperstein notes that “a customer-obsessed enterprise focuses its strategy, its energy and its budget on processes that enhance knowledge of and engagement with customers and prioritizes these over maintaining traditional competitive barriers.” Being a CoCo requires taking courageous steps towards better CX. If your most recent strategy has turned out to be a mistake, don’t worry. Just implement something new and keep following the trends.
7. Recognize that the customer journey never goes in a straight line: CoCo’s don’t just deliver on omni-channel service and support, they invest in creating 360-degree views of their customers that maps her journey. and the details spanning customer history and feedback across all channels. Then they use this map in real-time service.
8. Build a connection with the customer post-transaction: Sales is the start, not the end for CoCo’s. Focus on customer engagement in both short and long-term after the sale. Communicate proactively and personally in an authentic way. What more could your customer want or need from your business? Don’t miss the chance for post-sales engagement and attract your customer’s attention again.
9. Invest more in content creation than advertising: CoCo’s focus their marketing efforts on producing content that is valuable for their customers rather than promotional material and advertisements. This doesn’t spell the end of advertisement though, you simply have to restructure your marketing strategies around the needs and wishes of your customers.
Pisano’s blog(the one you are currently reading this article from) is our best example. We provide interesting, fresh, varied, and most importantly, meaningful content for both our current and potential clients.
10. Be flexible in order to fit customers’ needs: CoCo’s know no one can design a CX that is one-size-fits all. Instead, they make it so that their operations and staff always work together to create personalized and satisfactory customer interactions. Harmony and unified actions go a lot more further than extremely detailed and rigid guidelines.
You can lead the customer-obsessed transformation in your own sector and industry. Remember that empowered customers are the ones who should be shaping your business strategy. People expect consistent and high-value actual and digital experiences. The difficulty of building a complex and omni-channel approach doesn’t concern them. Your brand must present immediate value, otherwise customers will go elsewhere if you can’t provide it.
Let’s win in the age of the customer together. The risk in today’s customer-led market isn’t responding too early; it’s responding too late. Pisano provides your business real-time customer insights and detailed reports — the fuel for complex, high-stakes customer-obsessed operations. Are you ready to go CoCo with Pisano’s real-time customer experience management platform?