What is the main business topic covered in the workshop?
Companies need to make profits to survive. They also know they need to have happy customers to survive. Often, one thing comes at the expense of the other and there is a struggle in the company between those who are working on customer centricity and those who are managing for profits. There is a way to get both. Your company can achieve profitable customer centricity. The workshop helps senior managers in both finance and commercial functions reconcile the conflict between profits and customer centricity. The workshop also helps you decide how to implement customer centricity throughout the company – aligning people and using the right metrics to keep people focused on creating loyal, high-value customers that support the long-term financial health of the company.
What is the typical business profile of people who face these issues?
This workshop is for senior managers concerned with projecting and ensuring a return on investment in customer-centricity programmes. They may be in finance, commercial roles, responsible for customer centricity across the organization, or involved in making a support function more customer-focused. Managers in business-to-business markets benefit as much as those in consumer-oriented businesses. They may come from manufacturing or service companies, as well as participants from non-commercial organizations.
How will I benefit from participating in this workshop?
You will be better able to:
- Create a concrete implementation plan toward becoming a more customer-focused company
- Articulate your customer value proposition in a way others can understand and act on
- Implement new processes or adjust existing processes that deliver value to your customers
- Manage internal services to support customer-facing roles
What will I do in this workshop?
The Business Case for Profitable Customer Centricity
- Customer Focus vs Profitable Customer Centricity
- Understanding what customers need, want and value
- Defining a clear Customer Value Proposition
- The benefits of Customer Satisfaction vs Customer Loyalty
- What is loyalty and how can you measure it?
- Calculating the lifetime value of a loyal customer
- Methodologies for measuring Customer Loyalty
- Net promoters as valuable loyal customers
- “Show me the Money” – Referral Economics, or how customer recommendations drive current and future revenues
- Analyzing and understanding feedback
- Segmenting customers
- Acting on the feedback
Mapping Customers: The Customer Journey
- Understanding how your customers experience your company along their “journey” with your products and services: are you delighting them, or where are you giving them headaches?
- Knowing what is going inside your customer at every step of the journey – identifying drivers of purchasing and recommendation as well as revealing rational and emotional hot buttons
- What should the customer experience be at each step in the journey?
- How do you get your staff to want to “connect with” your customers and delight them?
- The impact of Social Networks on the customer journey: the purchasing cycle in the digital age. What are the digital tools and applications the customers are using, and where are your customer communities?
- Customer Segmentation – the traditional and the modern way
Where and what are the obstacles to achieving your vision?
- Analyzing the obstacles
- Your processes – are you closing the loop? Where are the improvements?
- Your performance metrics – in conflict with customer centricity?
- The organization, your people and/or… yourself, possibly?
- Habits and biases - the way it has always been done in our industry/organization
Leading the Organization to Deliver
- The MCE Leadership Model for Aligning People
- Strategy Commitment: involving people to deliver on your customer promises
- Cascading your customer strategy: communicating in a way people can understand, commit to, and act upon
- Performance Metrics for profitable customer centricity
- Structure, processes and process improvements in line with your customer journey and Referral Economics
- Leveraging your organizational structure for optimal delivery of your profitable customer centricity strategy
- Leadership behaviour – walking the talk and leading by example
- Corporate Culture – incorporating customer focus into your values and repeat behaviours
Planning for implementation
- Communicating your customer plan to implement it effectively
- What makes a good business story? Crafting a convincing case for customer focus
- Building your specific customer plan
- Personal action planning and peer feedback