The Week in Retail: Customer Centricity – a Key Differentiator in Retailing

//The Week in Retail: Customer Centricity – a Key Differentiator in Retailing

Customer centricity is “a mind-set that companies need to adopt throughout the entire organization – not just marketing – to thrive in the digital world.” 15 Mind-Blowing Stats About Customer Centricity explains the benefits of having a customer-centric business strategy and the hurdles to achieve one. (CMO.com)

The team at Casengo, creators of a customer support application for better customer service online, analyzed over 46,000 negative customer reviews and summarized the results in an infographic. The lack of communication is the primary reason for bad customer service that eventually drives customers away. Unhappy customers write the longest reviews and the main causes of negative reviews are slow delivery and bad customer service. (winthecustomer.com)

Another great infographic from Neustar about how companies are using Omni-channel marketing to reach customers outlines current opinions on the benefits of Omni-channel marketing. The majority of companies realized the importance of marketing and are currently implementing Omni-channel strategies. The infographic also ranks the most important customer touchpoints. (adweek.com)

A new study and article in Harvard Business Review from Christof Binder and Dominique M. Hanssens, Why Strong Customer Relationships Trump Powerful Brands sets up intriguing questions as to where branding’s value and investment is heading. The study looked at the value of brands and customer relationships as revealed by M&A data covering over 6,000 mergers and acquisitions worldwide between 2003 and 2013. M&A strategies now concentrate more on acquiring firms with strong customer relationships – with all the loyalty and cross-selling benefits that confers. Things work out better when you invest in the people, and not just sell them a product. (Harvard Business Review)

The 2015 edition of The E-Commerce Index Report created by iVentures Consulting is now available in free download on SlideShare. The Report analyzes and ranks 111 leading local and international leaders’ E-Commerce ecosystems through 250 criteria before, during and after purchase including omni-channel and online marketing. The Index provides a great overview of E-Commerce on 9 sectors such as fashion, perfumes & cosmetics and luxury. The best practices among the 111 local or international leading brands are also shared. (eShopper Index 2015 Report)

2015-05-11T09:58:36+00:00 May 11th, 2015|Articles|