Managing for Customer Value for Enterprises 💡
Earning customer loyalty is in the interest of both shareholders and management.
Companies at the top of their industries in NPS or satisfaction rankings for 3+ years, grow revenues roughly 2.5x as fast as their industry peers and deliver 2-5x times the shareholder returns over the next 10 years.
And here are 4 strategies that can help your company achieve consistent growth in customer value:
1️⃣ Develop robust customer-value management processes and tools
New accounting tools and technologies enable managers to model customer value and report regularly on the impact of their actions.
2️⃣ Combine design thinking with loyalty-earning technologies See the world through customers’ eyes and map it to internal technologies.
3️⃣ Organize around customer needs Embrace new operating models that push decision-making down to frontline employees, reduce cross-functional friction, and focus the organization on customers.
4️⃣ Lead for loyalty Lead your employees to become inspired by the satisfaction that comes from making customers’ lives better.
2️⃣ Combine design thinking with loyalty-earning technologies See the world through customers’ eyes and map it to internal technologies.
3️⃣ Organize around customer needs Embrace new operating models that push decision-making down to frontline employees, reduce cross-functional friction, and focus the organization on customers.
4️⃣ Lead for loyalty Lead your employees to become inspired by the satisfaction that comes from making customers’ lives better.
For more color on each strategy, check out the attachment! 👇
Germain UX – Improve Sales Processes and UX in Real-Time
Credit: Rob Markey
