You can open the largest office and assemble the strongest team, but without customers at the core of your strategy, you may be doing business on borrowed time.
Today, the organizations leading the pack are the ones that focus on a customer-led transformation strategy. They are adopting the tools, models, and capabilities to understand and cater to their end users and deliver consistently exceptional experiences.
KPMG annually conducts extensive global research on the rise of the customer, their habits, attitudes and expectations of those companies they choose to engage with. Invariably, we see the rise of the customer as one of the most significant driving forces in how leading brands have succeeded or receded in a very short time.
It is therefore not surprising that rapidly changing customer expectations and corresponding investments is making way for a new type of transformation, the ‘Customer-led Transformation’.
Determining the starting point for a customer-led transformation, an organization must isolate where it believes its starting point is as there is no one size fits all model. Most can find their starting point on one of three categories:
The path to begin establishing this starting point must be anchored around addressing three fundamental concepts: What is your ambition; what are your priorities; and what is your urgency?
Organizations must first establish their ambition as a customer led organization. Without clear ambitions the ‘Compass’ cannot be set. And more importantly, if those ambitions are not defined and embraced by the entire organization, they're nothing more than words.
Any ambition must be anchored to a set of priorities which align to the objectives of an organization. Do investments in customer centricity need to deliver more revenue; lower costs; enable for geographic expansion; create new products and services? And if you can agree on those priorities, can you prioritize the priorities – not everything can be achieved.
With ambition set, priorities established, the next big topic to address is urgency for embarking on a customer led transformation. Is the time to act and invest now as competitors are passing you by and customers are even harder to retain?; or, are you a market leader and feel like there is time to act or perhaps you’ll strive to create an even greater gap between you and the competition.
When you are ready,
let's do this.