“The customer is at the heart of the business” is a phrase that you will hear from almost every retailer operating in today’s economy. And this isn’t just talk — according to Accenture’s report “Customer 2020: Are You Future-Ready Or Reliving The Past?” the revenue loss caused by customers switching brands due to “confusing websites, staggering call centre wait times and difficulty solving their problems no matter which channel they use” adds up to an estimated $6 trillion globally.
There are several layers to being customer-centric and retailers need to manage the cost-benefit ratio of investing in becoming customer centric at their core. Customer centricity can span from personalised product recommendations or social media engagement to a supply chain that is completely agile and adaptive to the demands of customers on a day-to-day, or even hour-to-hour, basis. Achieving a deep and engrained level of customer centricity requires long-term investment, hierarchical upheavals, long-term dedication by staff both on the front and back end of the business, as well as have decision-maker buy-in. The hurdles of achieving genuine customer-centricity have to be overcome within budget, technology, capabilities and timeframe constraints, and this is a mammoth task.
If you’d like to learn how leading retailers in Europe are tackling the challenge of customer-centricity, and what benefits they are reaping from turning into truly customer-centric organisations, you can join us at any of the following Savant conferences:
“Winning in the long run: Turning your sluggish marketing departments into customer-centric performance heroes” – Erica Lindhqvist, Nordic Marketing Director, Philips at Savant eCommerce Stockholm.
Customers – The King & Queen of retail: Getting your business to a place where the customer can be centre-stage in all business decisions – Rocky af Ekenstam Brennicke, Global Marketing Director, Cheap Monday at Savant eCommerce Stockholm
Putting your customers at of your supply chain network – Supply Chain Directors from Grainger, Hilti, Jotun, Cargill, Office Depot, Policolor-Orgachim Group and Hilti will have an in-depth discussion about this at the Savant Supply Chain Congress Amsterdam