I hope you enjoy our post from the Harvard Business Review Blog Network
Originally posted on HBR Blog Network - Harvard Business Review:
What happens when you deliver poor customer experiences and get complaints? You might ignore your customers — or worse, blame them — and lose them for life. Or you might fix their problems and earn their loyalty. What you and your employees will do depends on your customer culture.
In truly customer-centric companies, all individuals (regardless of their roles) base their decisions and actions on the belief that what’s best for the customer is best for the business. New evidence shows how a strong customer culture drives future business performance and supports market strategies. Our research, based on a quantitative study across more than 150 businesses, spanning various industries and functions, identifies seven cultural factors that drive customer satisfaction, revenue and profit growth, innovation, and new product success. These are important predictors of future results and early indicators of risks and opportunities related to retaining customers and acquiring new ones. Our research on highly customer-centric businesses like Amazon, Virgin and salesforce.com tell us that these factors are disciplines that, if practiced and embedded, create superior value for customers and sustainable growth in value for stockholders. They can be measured and benchmarked for any organization:
1. Customer Insight: Does the company have a deep understanding of its current customers’ needs?