10 Principles of Customer Strategy

“It’s no longer enough to target your chosen customers.
To stay ahead, you need to create distinctive value and experiences for them.”
 By Thomas Ripsam and Louis Bouquet
Strategy+Business Winter 2016/Issue 85

In an ideal world, it  would be great to address all of these 10 principles at the same time!

Nevertheless, any business that is serious about being customer centric as the pathway for growth, has to apply, in order of priority, these 10 principles as quickly as is practical.

A starting point to prioritising is to clearly assess which principles are your strongest in terms of existing business’s skills and capabilities and which are your weakest.  Then assess which ones are specifically relevant for your business as being critical through to the ones that are less critical for growth.

Double check your thinking with customer primary and secondary research to be sure your thinking is accurate.

Armed with this knowledge you have a greater chance of prioritising  your resources more effectively to the ‘principles’ that will produce the results your business has determined it is striving for in the shortest timeframe with the lowest financial investment.

This provides the quick wins whilst pursuing the more challenging customer strategy  ‘principles’ which require greater time and financial investment.

In today’s ‘experience’ economy, it is critical to have an effective customer strategy in place to compete effectively.  These 10 principles provide you with a great overview on what has to be addressed.

 

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