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A customer centric company is a business that revolves around the needs and desires of its clientele. Such customer-focused firms don't only aspire to increase their client base, but also to retain the customers they already have. A customer centric company must strategize their products and services to meet their clients' expectations.
In attracting new business, customer centered, or centric, companies appeal to the needs and desires or their target audience. A target audience is the type of consumers, as organized by their age, sex and income, mostly likely to purchase a certain product or service. Whereas all businesses focus on reaching their target consumers to some extent, a customer centric company is likely to go even further, such as investing in a great deal of market research. Market research can give companies specific information about the exact buying habits and expectations of consumers.
What is spent on market research may be saved in terms of customer retention. Many studies have shown that it costs much less to keep customers than to keep attracting new ones. A customer centric company makes a large effort to keep in touch with its client base and inspire loyalty. It listens to the customer voice by taking suggestions, complaints and comments seriously.
Surveys, follow-up phone calls and comment cards are common tools used by customer centered companies to make sure they keep in touch with their clients' expectations. Personalized service can very much set a customer centric company apart from other firms. Whenever possible, customers are greeted by name; they are made to feel like they belong to the company rather than another order to fill.
A client centric business never makes excuses when customers complain of poor service. Rather than defending policies, customer focused firms apologize and follow up complaints quickly. Any type of service is also followed up at the best customer centric companies. For instance, in many stores, when a customer can't find certain merchandise and asks a clerk for help, the worker will politely mention the aisle number or point and give directions. In a customer centered company, the clerk may start with that action, but then follow up and find the client to make sure the person did find the item or items he or she wanted.
When the customer is the prime focus of a business, access is important. Customer centric companies often feature many different options that make shopping more convenient for their clients. In-person as well as website ordering may be possible. Customer service phone numbers may be available 24 hours. Extra services such as free delivery may be offered. Customer centered stores usually don't opt to charge clients for bags to carry their purchases home in, while other types of companies may choose to do this.