While the term “customer centricity” has been interpreted in many ways, at its core, it’s the idea that businesses provide customers with an exceptional journey. This, in turn, increases customer loyalty and retention—and catalyzes profitable growth. To Danny Phillips, Director of Australian-based agency Arkade, it also means focusing on your best customers.
“Often, most businesses are surprised to find out that more than half of their revenue comes from as little as 5% of their customers,” Danny says. “You can't make bad customers good. It takes a lot of effort to make average customers great. But you can focus on great customers and say, ‘Let's make sure that you have a great experience.’”
When a business devotes attention to its best customers, not only does it have fewer people to service, it can home in on how to best serve them—and it’s easier to find more people like them.
Here are 3 steps that Danny recommends agencies can take to help their clients become more customer-centric: