‘Customer-Centric Intelligence’ series, 2003
Over the last nine weeks, this NBR “Smart Marketing” series on Customer-Centric Intelligence has covered a wide range of topics. This breadth is a key advantage of the Customer-Centric Intelligence philosophy but also a major barrier for some businesses. The all-encompassing Customer-Centric Intelligence approach can be difficult to communicate and “sell-in” internally, and challenging to implement. Of course, the best gains in life and business are often the result of meeting the most difficult challenges, but if there’s an easier way of enjoying the fruits of any challenge then it usually does well to consider them.
So in this last “Smart Marketing” column we hope to provide a key reference for the Customer-Centric Intelligence philosophy – literally a “cut out and keep” guide to the key principles of the approach, in order to help readers make their first steps towards embracing Customer-Centric Intelligence within their organizations. Synovate knows of a number of major, well-known New Zealand businesses already some way down the Customer-Centric Intelligence track, and it is these principles they are keeping close to their heart…
• Human values have become the contemporary currency of commerce.
In studies throughout the developed world consumers have repeatedly, and increasingly, been saying that something is ‘missing’ in their lives…basic human values. Increasingly, people are turning to commercial institutions for reinforcement and ratification of their personal values.
• Consumers are speaking a new language – one that most businesses have not learned.
Few companies in New Zealand seem to be aware that the new language of consumers is rooted in human values, such as trust, respect and dignity. Being the faster, newest, trendiest or cheapest is of lessening importance.
• Customer-Centric Intelligence provides the lens through which to understand this market shift – and develop specific approaches to succeed in the new environment.
Companies that practice Customer-Centric Intelligence emphasise the context surrounding their offering as much as the content of the offering (the product or service itself). This isn’t just a distribution-channel issue, but one encompassing all customer touchpoints, be they the communications, branding, paperwork, design, service / delivery options, call centre scripts and more.
• This white-space opportunity won’t last forever.
To capitalise on the opportunity that exists, businesses should start to act now – not later. In time, especially considering the uptake of Customer-Centric Intelligence in Europe and America, you will be faced with competitors who are B.I. savvy and have modified the way they do things accordingly…the only question is “when?”
• Price no longer means “lowest” but rather “fair and honest.”
Consumers have stated they are not necessarily looking for the lowest possible price. Instead, they value prices that are fair, honest and consistent, and that don’t appear to be artificially increased or decreased.
• Consistently good product is more important than the “best” product.
Buying “the best” is not overly important for most consumers – consistency and reliability is key. “A good product at a good price” – forget the hype unless your company can also be honest, dependable and trustworthy.
• Service means “walking your talk”
Many companies tout their “value-added” services while executing poorly on basics, such as a returns policy or training staff to treat customers well. Consumers have identified and are very much aware that special services mean nothing if a company doesn’t successfully fulfill basic, everyday requests. All that happens is that customers look for an alternative supplier.
• Access is more about ease and simplicity of internal navigation than it is about geographic location.
Getting to a business is no longer as important as having what customers want once they’ve arrived. Consumers said they don’t want to be confused or slowed down by clever layouts or trapped by forced traffic patterns. Again – simplicity and ease is key.
Regular readers will see that this summary omits many of the subjects discussed in more detail in the series to date – subjects such as digital asset management, PR, online application products, market research, left and right brain thinking, etc. This is because such subjects are pieces within the puzzle; means to an end; and this is where the Customer-Centric Intelligence philosophy can be waylaid. Sight must not be lost of the fact that Customer-Centric Intelligence Intelligence has less to do with “streamlining business functions” and other IT applications, and much more to do with THE CUSTOMER. If your business isn’t Customer-Centric, then it’s not intelligent business .