Customer Centric Management (CCM) can create and maintain a competitive advantage for any company, in any sector or market. It promotes competitiveness, sustainable growth and profitability. At Buljan & Partners Consulting we work alongside our clients to review the key elements of their strategy and define indicators that will measure the company’s successful transformation towards a model that is fully focused on the customer.
Complementary services in the following program:
Relationship Marketing as a CX Strategy
One of the strategies that we implement very carefully with our clients is known as relationship marketing. Within “CX Strategy”, relationship marketing may be the best way to obtain satisfactory results for the business over the long term.
Relationship marketing involves the application of measures to initiate or improve a relationship with customers. With this strategy, one is looking for a closer, more personal commercial relationship with the customer, in order to generate more loyalty.
There are many relationship marketing strategies which can be adapted to each type of company and each professional sector, but in general, all of them serve to construct and improve a business model that wants to provide a satisfactory customer experience.
The Competitive Advantage of a CX Strategy
If one has managed to implement a business culture based on the customer experience, this vision of the company and the way it operates will, in itself, constitute a competitive advantage.
A competitive advantage is one that makes a company stand out from what other companies in the sector are capable of offering. In products and services, price and quality have been the two classic factors for creating a competitive advantage.
In “CX Strategy”, a positive and satisfactory experience is the competitive advantage with which to retain customers, so that they remain loyal and continue to acquire products and services in the future.
“CX Strategy” and Business Value
The value of a business can be determined by many factors. Some companies base value on intangible qualities that their brand transmits. Others consider price to be the best competitive value that they have. “CX Strategy” considers the customer experience as a business value in itself.
The theory of “CX Strategy” identifies a positive customer experience as something of superior value, that is above other elements such as price or the way the product or service is used. After enjoying a satisfactory experience, the customer has a reason to return and make another purchase, which thereby improves profitability and positioning in the market place.
In conclusion, a business model resulting from the successful implementation of a “CX Strategy” leads to more productivity and profitability, as well as direct benefits like obtaining customers that will be more loyal and who will in turn help secure introductions to new clients, by sharing their positive experience with friends and family.
However, “CX Strategy” may be applied in many different ways, depending on the possibilities of the company and the sector, which means in-depth analysis of each individual case is required.