Making Customer-Centric Strategies Take Hold
An excerpt from a Harvard Business Review Analytic Services Report with Strativity
To keep pace with rapidly changing business environments, companies are under the gun to put customers at the center of everything. As many products become commoditized, executives realize they have to differentiate them through compelling customer experiences. Global competition demands that businesses meet the needs of customers from vastly different income groups, cultures, industries, and locales.
Customers are becoming increasingly demanding as technology rewrites the rules of what is possible. In response to the pressures, many businesses are implementing customer-centricity strategies at great speed. A survey of 315 business executives conducted by Harvard Business Review Analytic Services, sponsored by Strativity, found that 43 percent of organizations plan to have the strategy in place in a year or less. Another 31 percent expect to be finished within two years. However, the study also found that the implementation of these strategies is likely to falter. In the breakneck relay to drive the strategy from the boardroom to the cubicle, many organizations are dropping batons at every point from creating a meaningful vision to training employees.
The challenges start at the top: The survey found a distinct lack of confidence on the part of respondents in their organizations’ ability to clearly articulate a vision and strategy and align senior teams around them. Respondents are even less confident in their companies’ ability to cascade the strategy to the front lines by providing sufficient training, empowering employees, and clearly communicating timelines and success metrics.
“Speed and sustainability are about achieving long-term competitive advantage,” says Sunil Gupta, a professor at Harvard Business School and chair of the general management program. “Companies may have ad hoc programs in place such as measuring customer satisfaction and are tying incentives to it. But such efforts aren’t going to protect them against the customer challenges they are most worried about.”
In this report, we delve into how companies can build a solid foundation for a sustainable customer-centricity strategy that takes hold across the enterprise and delivers the needed results…..
To read the full white paper, contact Strativity here.
Learn how to achieve true Customer Centricity, don’t miss out on the Customer Experience Certification Program: https://www.picatic.com/event15204726702123
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