Customer-Centric Marketing: An Introduction
In this concise 15-minute on-demand video talk, we consider what defines a customer-centric business, and what best practices those businesses focus on.
Join Epsilon's Ben Foulkes as he introduces the concept of customer-centric marketing, revealing the organisation-wide mindsets needed to successfully transform to a customer-centric model.
Split into four core sections - data, revenue, business impact, and incrementality - Ben discusses the key questions that need to be addressed by businesses seeking to transform to a customer-centric model.
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Recognition:
Can you recognise your customers and prospects as individuals?
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Messaging:
Are you able to hold a proactive, persistent and ongoing dialogue with your customers and prospects?
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Measurement:
Can you measure every marketing £ spent, and the incremental return from that £?
Considering truly customer-centric businesses that exist today, one thing they all have in common is their customer-first mindset, from the top down. This is evident throughout the businesses - everything, including their technology and marketing.
With everything in place and all business functions aligned, these customer-centric organisations utilise an internal backbone - a single customer view - to ensure all activity is led by their audience of prospects and customers. This allows the entire business to support marketing reporting, enabling the marketing function to dial-up or down initiatives based on their exact contribution to profit and loss.
These case study businesses are the goal. Organisations seeking to transform to a customer-centric model need to undergo a process of internal and external transformation to get there.
Here, an organisation pivoting to pivoting towards customer-centricity will need to overcome a series of challenges. For example:
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Activating a single customer view across multiple channels.
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Demonstrating that customers are being brought online, reducing the impact of in-store loss during the new-normal.
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Being able to quickly use data on pockets of audiences to push into conquesting for new customers.
Watch this 15-minute video talk for an introduction for business seeking to transform to a customer-centric model.
