• The Newfound Importance of Customer Centricity

    Right now, we are living in the age of innovation. We have lived through the inception of the internet and computers, and continue to bear witness to technological advances made every single day. Everything has grown, adapted, and changed due to this, including business including products, which continue to develop at an unimaginable pace. This rapid evolutionary rate cause consumers’ demands to grow, and soon the advance in technology will not be able to keep up. As a result, business’ ideology must adapt and evolve as well, from a product-centric focus to a customer-centric one. Never before has customer centricity been as important as it is now. It is a completely different approach to business, however, for some cases it will be more worthwhile to change stances.

    First of all, it is important to understand that the customer-centric approach is a long-term commitment. It obviously takes time to build strong customer relations, and as a result, it will take some time to make the connections work to your advantage. The basis of customer centricity is evaluating customer lifetime value, which is essentially, determining how much value a customer will bring to your firm in the long run, by analysing data. However, each customer is different and accepting consumer heterogeneity is a very large part of a customer-centric approach. By accepting the differences in the different groups of customers that you cater to, you can more easily adjust your focus and put more effort into targeting the most beneficial group. Of course, cutting off the rest of the customers is not the point of this, but those with the highest CLV will be more loyal and, therefore, more advantageous to your firm in the long term.

    According to Professor Fader from the Wharton School of Business, customer centricity “is a strategy that aligns a company’s development or delivery of its products or services, around the current and future needs of a select set of customers in order to maximize their long term financial value to the firm.” In addition to what was said previously, Prof. Fader is saying the in order to be truly customer centric, you firm must solely base its decisions on the needs of the customers. Having excellent customer support at your store does not make you a customer-centric firm. Instead, a global understanding that you will function and orient yourself around the customers’ habits and behaviors is what does. An example of this is the data-driven model adopted by large companies such as Harrah’s and Tesco. They came out as leaders in their markets because they really analyzed the data behind the patterns that customers were creating. They developed a loyalty program to show that they knew what the customers wanted, and were able to, more readily, cater towards their needs. The loyalty program completed their data-driven business model and helped them become truly successful companies in their fields.

    The customer-centric approach allows your business to thrive in the long run. It is very different from the product-centric focus, and it will not work for all companies, but it is something that is gaining popularity quickly. Businesses can no longer out-perform and impress consumers as their demands grow, so they are forced to adapt. Loyalty programs have been proven to be very successful in offering firms with a customer-centric position in the market.

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  • What Not To Do With A Loyalty Program.

    Having a loyalty program may be the best choice for your business, as it creates incentive for the customer to return, however this strategy is not foolproof. Consumers can often be repelled by these offers because they are an everyday nuisance or brings no benefit to them. The ‘seven deadly sins of loyalty marketing’, (as described in this article:
    7 Deadly Sins), are the important factors in the failure of a loyalty program, and by focusing on a few key points, customers will be more likely to join the program.

    The first mistake is to base your program solely on discounts. Your goal is to form a strong relationship with your customer and should ultimately create a strong bond Discounts do not show that you value them. When creating incentives, the focus should be on giving the customer something that shows appreciation, something that is tailored specifically for them. TapMango can create a wide array of rewards, not necessarily discount. They can be as personalized as you’d like, which can create that bond between consumer and business. With TapMango, the relationship with the customer is the most important thing.

    Some loyalty programs can be too complex, for both the customer and the worker who is operating the system. The customer will not be attracted to a complicated-looking device, as opposed to a clean, easy configuration. Likewise, workers will not be able to offer the program to the customer if they cannot use it in its complexity. For the clean and simple system, TapMango takes complexity out of the equation. The system is completely set up and easy to operate, and the simple, elegant design is appealing to customers’ eyes. Consumers use their mobile phones to interact with the programs, and nowadays technology has been so well-incorporated into everyday life that this program is not out of place.

    Another important point is to keep in mind that customers want to be rewarded for their current actions, not something they might buy in the future. Considering this will help the consumer accept the loyalty program into their everyday life, and be rewarded for things that they have accomplished. This incorporates into TapMango’s system by sending out rewards that tailor to each person’s action, not as a whole. Consumers can also be rewarded for simply visiting the store and signing up, or referring a friend. This will help you to really connect with your customer on a personal level. Rewarding their actions as they happen, create the strong bond necessary for a healthy consumer-business relationship.

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    TapMango Spotlight - GET GRILL

    Chef Bab T is the maverick behind GET GRILL. GET GRILL is an Afro-Asian style restaurant in Brampton serving grilled foods seasoned with loads of flavour. All the sauces, seasonings and condiments used in the restaurant are produced in-house. They even carry their own line of seasonings under the I-Spice brand.

    For many years Chef Bab T worked in the city, opting to work/volunteer in local Bistros and Pubs in the summer months or whenever it was convenient. However his preoccupation with working 9am to 5pm was challenged by an encounter in 2007 that would set him on this unfolding path.

    Chef Bab T (babtee) as he likes to be called is an exemplary person. His love for cooking, either indoors or outdoors is desirably infectious. When asked where he draws his inspiration from, Bab T explains; it’s from all the subtle vibes that usually go unnoticed, e.g. nature’s colors or rained-in days… and an insatiable desire to provide a service he is very passionate about. He adds “We all visit the same farmer’s markets, butcher’s store and supermarkets or at least have access to them, what sets great Chefs apart is the processing of the produce between the store and the dinner table!

    In creating scrumptious, lip-smacking dishes with a cross cultural, multi-ethnic appeal, Chef Bab T draws on his experiences across 3 continents and over a dozen countries and cultures and blends this with his artistic flair and knack for creating lip-smacking exotic dishes that leave your taste-buds guessing, and you… wanting more!

    So get out there and get the Chef Bab T treatment, you won't regret it. And while you're at it, get their Loyalty Tag and start earning rewards.

    Both Get Grill Loyalty and TV are powered by TapMango.

    http://www.getgrill.ca
    @getgrill
    http://www.facebook.com/getgrill

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