From Revenue Obsession to Customer Obsession

As a business owner, what is your favourite pastime?

Apologies for asking this personal question, but at the same time, we know that it is to speculate
what should be your Dream-revenue.

What about a revenue goal of owning a trillion-dollar business?

Well, the goal here is not to give you Goosebumps right now.

It is to reveal the one OBSESSION of a company that is a strong contender in the race of the yet to be
grabbed dream-spot of becoming a trillion-dollar venture ever!

Here’s that North Star of Jeff Bezos’s that has been the guiding Amazon all the way up to its
momentous status quo:

“Obsessive customer focus is by far the most protective factor for a business’ vitality.”

The above line can’t have any second thought or doubt and cutting a slack to this obsession is the
biggest blunder of a business.

Taking forward the Amazon’s cult of customer-centricity, we will portray the freshest face of this cult
in practice.

In the evolving red-hot glare of the consumer, the digital advances made the rightmost reactive
adaptation. Hence, the baseline is:

 A business driven by Customer-obsession is carried best (today) by digital marketing that is Targeted, Trackable, Measurable and Involved in direct relationship with the customer.

3 Reasons why
Digital marketing has new ways for companies across industries in the form of below capabilities:

• Following the customer journey from pre-engagement to post-purchase, constant listening
  through social listening, learning the way different customers interact with their brand
• Engaging customers across multiple channels, generating deep insights, and seamlessly
  executing on them on those several platforms
• Using data-mining and integrating multiple data and refining their segmentation approaches
  to recognize and thereby serve the correct customer segments.

Here’s the Ultimate Reason–

It all brings to life a beautiful gameplay of customer’s emotional connection, satisfaction and
publicity.

3 Ways how businesses achieve multiple objectives this way

• Using customer data to understand buying behaviour, interests and engagement
• Identifying opportunities to create products/services for your best customers
• Using customer lifetime picture to segment customers based on top spending customers

Do you want to see the downside of ignoring this facet that is literally like wrecking havoc in your
business?

Dangers of customer non-obsession

Customers always expect to have good service, and if they don’t have it? Well, it’s so easy now to
complain about it in a very visual and vocal way on the social media.

“Consumers are 2 times more likely to share their bad customer service experiences than they are to
talk about positive experiences.”

We can only imagine about the extent to which it can be amplified online.

Rather than complaining about a bad customer service job to a friend or anyone in person, a
customer can just tweet it out.

That is bound to make brands very nervous.

For example:-

Need more proof?

Data to stir your mind
The case of how customers behave here’s tons of data on it. And, that data points to the fact that
customer -obsession matters:

• “A customer is 4 times more likely to buy from a competitor if the problem is service related
  vs. price or product related.” – Bain & Co.
• “70% of buying experiences are based on how the customer feels they are being treated.” –
  McKinsey
• “98% of respondents said that customer experience was among the top 3 factors.” –
  Kissmetrics

So yes, it matters, but for more than you think.

Bottom of the blog
Digital advances unlock ways for companies to interact with customers and capture valuable insights
about their level of engagement and potential to a brand.

Are you ready to enhance your digital capabilities in order to cater to the customer-obsession?
In that case, we got your back 🙂