Customer centric businesses, are the businesses who provides services or products with customers in mind, and not merely for earning profits. Businesses who have customer centricity in its core can and do progress.
Every business is customer driven, wrong customer type can cause huge losses to the business.
How wrong customer can cause losses because customer is a customer?
Customer according to a business sometime is a predefined breed. They expect their customers to be of a certain profile. For example a Beauty and Wellness company manufactures and sells products for 40+ Age women, mainly anti aging products, which involves diet supplements and cream.
They expect women of age 40 or more to reach out for their products. Their marketing and survey efforts are for the mentioned age and strictly it’s for females. What if some other customer type approaches for these products or is involved in the survey…There is nothing fruitful left. Both the customer and the business have no gain and will be considered as a time waste for customer and a waste of resource for the business, which is precious for balancing processes in the business.
So what are conversion disasters?
Above, what just happened is called as conversion disaster. Businesses use “conversions” term often. What a conversion mean to business? Basically a Conversion is something to change from one form to another.
For businesses conversion is goal for any campaign, Sale, Signups, Subscriptions.
How they can be a disaster?
Disaster is something that goes wrong or is not expected.
In the above example for Beauty and Wellness, what can go wrong and is considered as an disaster?
The customer type. As mentioned, if any customer below interacts with their campaigns or generate a sale, it won’t be beneficial for the customer first, as the product specifically is developed and marketed for 40+ females.
On the business end, a sale is generated but it is not a customer centric sale, which is the core of every business.
How such disasters can be avoided?
Such disasters require a disaster proof plan, i.e a Customer Identity management Platform, which helps in organising a customer’s registration data and generating insights out of it.
The generated insights helps in segregating and defining customers , and with the help of customer profiling, business can easily target and modify their product and marketing accordingly, like an health supplement for 23 Yr+ working ladies.