A new study has revealed that customer-centric companies have the potential to earn higher Net Promoter Scores, Customer Satisfaction ratings, reduce operating costs, mitigate key risks, command price premiums and create more engaged workforces than companies that are lagging behind in customer experience (CX).
The research, which looked at cross-sector, industry and firm-specific studies, found that these customer-centric companies have been able to take advantage of the ‘value revolution’ in business, with an increased focus on customer-centricity.
This trend is exemplified by the stellar performance of private-sector companies such as Alphabet, Amazon, Apple, Google and Microsoft, all of which now have a market capitalization of more than $1 trillion.
Despite this, the study estimates that only around 15% of all businesses globally have embraced a customer-centric operating model.
The research suggests that in order to remain competitive in the future, companies need to create an agile, ‘always-on’ value delivery system which is able to listen to customer signals from all interactions, touchpoints and channels, and use the insights to create personalized CXs via user-relevant products, services and messaging.
Commenting on the findings, a spokesperson said: “Our research shows that customer-centric companies have the potential to earn higher Net Promoter Scores, Customer Satisfaction ratings, reduce operating costs, mitigate key risks, command price premiums and create more engaged workforces.”
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.