Client centricity is essential in the modern economy and companies will find themselves out-competed by rivals who put the clients needs at the centre of everything they do. Placing clients at the centre of planning, decision making and delivery, provides a company with a competitive advantage.
What does a client-centric organization look like? Retention is the greatest recruitment strategy. Understanding clients means understanding their journey. Client experiences occur not at a single moment but at multiple interactions over time. It is much cheaper to retain a client through developing powerful relationships, than recruit a new one. Being client centric means knowing the client lifetime value and segmenting them into groups where you focus your attention on clients with high value. Co-creating your products, services and solutions, with your high value clients, enables you to streamline processes and systems that make it easier to serve their needs and expectations.
Client trust and loyalty occurs as a result of knowing what levers and drivers are required to develop long-term value. It requires aligning people and culture who put the clients needs first.