This post is the third about customer centricity. I’ve already introduced the topic here and analyzed the issues and challenges here– you may want to refer to them shortly.
In this article, I’ll explore the critical steps necessary to become a customer-centric organization or at least to increase customer centricity. I’ll also answer the question; “how to increase customer centricity.”
I acknowledge that the plan and changes necessary for achieving customer centricity will vary from company to company based on the unique challenges of the organization and its market.
More so, a company needs to define why it wants to be more customer-centric, to what degree, and whether it requires an incremental or substantial change.
Well, I believe the transformation to be successful MUST include the approaches below.
Without further ado, let’s explore ways to create a customer-centric strategy that connects your company to the needs of your customers.
Leadership Commitment
Leadership commitment is fundamental for initiating as well as sustaining the initiatives and changes required for customer centricity.
For instance, senior management should show a strong focus on superior quality of service, excellent customer relations, time spent visiting customers, addressing market issues, and the willingness to invest resources in a deeper understanding of customers.
Organizational Realignment
To move toward a customer centric paradigm, the structure of the company should change.
Typical matrix organization structures that seek to find a balance between customer and product management may be an ideal first step to restructure companies to become more customer centric.
Revised Metrics
The realignment of the organization’s structure, systems, and processes will help the development of a customer-centric decision-making culture within the company.
However, this must be supported with customer-centric metrics because what gets measured gets done. Customer centric companies typically use customer-related metrics to measure and manage their marketing initiatives.
Continuous Learning
When the first steps toward customer centricity are achieved, continuous learning is critical to sustaining the performance, excellence, and competitive advantage gained by the company. Success stories and positive examples are powerful instruments to motivate learning and continuous improvement throughout the organization.
People
Employees in any department, from sales to R&D, regardless of the role, should focus on hiring and developing talents that are aligned with customer-centric principles and the importance of the customer experience with the company.
Foster A Customer-Centric Company Culture
Customers are considered the primary source of value for the company, and customer relationship is recognized as critical across the organization. Everybody in the company should work to establish a mutually beneficial relationship with the customers.
Focus On Customer Outcomes
In all departments, activities should be linked to customer outcomes. Employees’ engagement and motivation are increased by a customer-centricity strategy when actions can be linked to measurable results.
For example, strategies to reduce backorders for customers can be captured and highlighted to show successful strategy implementation.
Likewise, R&D solutions that increase the reliability of products can be linked to increased customer satisfaction.
Share Customer Data
Adopting a new customer-centric strategy requires broad access and continued communication throughout the company on customer data, statistics, and insights.
Likewise, having CRM software can provide important information and can facilitate a better understanding of customers, always with the purpose of creating a unified front inside the company committed to better customer experiences.
Customer-Centric Innovation
Embedding innovation throughout the organization will involve gaining insights from customers in the broader meaning of the term. It will also require introducing rapid internal cycles of test-and-learn processes that generate ideas, test their feasibility, and pilot initiatives in an agile manner.
Thinking more disruptively, companies can develop radical new customer value propositions that move beyond the traditional confines of medical devices as products and address customer needs in other fields like services. This requires new business models and competencies but can generate significant revenue streams by tapping into new profit pools.
More so, good product experience and customer service include every interaction a customer has with the organization, from the patient’s first introduction to the product through to the point at which it is no longer used.
Conclusion
Many medical device companies struggle with changing market and customer needs and are far behind other industries in meeting customer expectations. That’s because many barely know how to increase customer centricity.
To succeed in this changing environment and achieve sustainable growth, Medtech companies need to introduce a new culture that focuses on redefining customer relationships, transforming business models, and adopting data and digital.
Achieving more customer centricity is a strategic necessity and a long journey. Companies need to be clear about where they stand and what steps lay ahead of them.
What do you think about customer centricity? Share your thoughts in the section below, and if you like the content of this blog, don’t forget to subscribe.