7 Qualities of a Customer-Centric Business

customer focus 7 Qualities of a Customer Centric Business Here is a synopsis of an article by Jessica Tsai, a news reporter with DestinationCRM, 7 Qualities of a Customer-Centric Business:

Customers are more diverse and fragmented than ever before, forcing products and services to be increasingly commoditized. So how do businesses turn these apathetic — even antagonistic — consumers into brand advocates? During a morning presentation at the National Retail Federation’s 97th annual conference here today, Fred Balboni, lead partner of IBM’s Global Business Services Application Innovation practice, discussed the top seven factors necessary to attain what he described as “divine loyalty.”

Balboni’s presentation,was drawn from the findings of a recent IBM study:

1. Store Experience: After a customer visits your store, whether online or at a brick-and-mortar location, she will be more likely to come back if that previous experience was pleasant, enjoyable, and — most important — if it sparked within her an emotional connection to your company, product, or service.

2. Convenience: Factors that fall under this category include store layout, design, merchandise placement, and checkout. Customers want a shopping experience that makes it easy for them to get what they want, without turning it into a treasure hunt.

3. Range and Assortment: Businesses have to reflect the needs of a disparate consumer base by providing a vast range of products. Customers will come back if you have the right size and right fit for them.

4. Quality: It’s simple enough: Customers want high-quality products.

5. Customer Service: “Beyond being friendly, this is about empowering your sales force,” Balboni said.

6. Multichannel: The market is fragmented in part because there are so many venues for a consumer to access. The key is bridging all channels to create a symbiotic relationship between them that helps promote the activity of each channel individually. Stores, for example, should drive customers online, and sites should in turn drive traffic to the stores.

7. Product Availability: Customers are going to be happy if you have what they came looking for.

What’s interesting about IBM’s study is that price was far less of a factor than all of the aforementioned qualities were. In fact, Balboni said, price is simply not the prime concern of a loyal customer. “If a shopper is not loyal to you, then they’re loyal to price,” he told the crowd. The key is to keep customers coming back even if your competitor is offering the same, or even lower, prices. It all comes down to policy, processes, and supporting technology, Balboni said, and while no two businesses are the same, the ones that are successful are the ones who continue to have a commitment to the customer.