Over this summer CCL has spoken to 200 of the FTSE 250 companies and 4 in every 10 did not have a Customer Strategy in place. The companies with a Customer Strategy recognised that it leads to increased shareholder value.
The companies without a Customer Strategy in place reported a lack of cohesion between departments and a disjointed customer journey, leading to expensive failures in implementing initiatives. They are also more likely to suffer from a lack of transparency around why customers churn and poor customer satisfaction.
Four years ago Robert Heller, author of Managing for Excellence, asserted in an article on thinkingmanagers.com that “Customer strategy is the only strategy. Product and producer-driven strategies are dead – though not altogether buried”.
CCL helps organisations to define and deliver exceptional customer experiences and business results. We work with organisations to define their Customer Strategy and break it into bite sized chunks. Typically the process takes up to three years.
|Year 1||Fixing the basics and defining the strategy|
|Year 2||Embedding best practice|
|Year 3||Optimising the opportunity|
A Customer Strategy takes a holistic view and encompasses Marketing, Sales, Customer Services and all touch points on the customer journey. Nowadays the Strategy must also encompass how the organisation interacts with its customers, partners and markets via new social media.
Never before has a Customer Strategy been so relevant. Customers have much higher expectations than they did ten years ago. If companies do not deliver the experience that customers expect, customers will tell the world about it. As the balance of power shifts, organisations cannot afford to leave parts of the customer journey to chance.
CCL are hosting two executive level Customer Strategy Lunches in September 2010 on this subject, looking at how an effective Customer Strategy can act as both compass and glue – helping companies navigate their journey, comprehensively join up projects, and maximise return on every customer investment they make.