Customer focused is what you know the customer wants (data led) whereas customer centric is providing the customer with something they want, even before they know it themselves e.g. Apple iPad
Rationale
- DeadHappy looked at traditional life insurance model with existing customers and structure and thought how can we change this?
- Customer focused is what you know the customer wants (data led) whereas customer centric is providing the customer with something they want, even before they know it themselves e.g. Apple iPad
- Key driver is – how do you follow a customer led culture?
Barriers
- If follow customer centric strategy which proves to be wrong, you will need to be agile and flexible to change it quickly
- Much harder for large, long established companies to be flexible but they can follow a customer centric path in some areas, as there are lots of other channels to mop up any errors
- The problem for large companies with lots of stakeholders is getting agreement on radical change – this is why they don’t tend to do it e.g. compliance teams will often oppose something new on the basis it has not been done before, yet the FCA is open to anything which is fairer for the customer. Customers are happy as long as they understand exactly what the product is.
- Every interaction with customer is extremely important – each one is personalised
Conclusion
- Both approaches are about putting the customer at the heart of everything you do
- Need to mix both approaches for successful customer journey
Expert: Dominic Holton, DeadHappy
Facilitator: Katie Horne, Aston Fisher
