TMTC BLOG

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

One busy evening at work when a colleague approached me to take a session for the executives of a food chain on customer centricity, I became curious! While it is not uncommon for me to receive such requests on most prevailing buzz words or marketing fades, the client specifically asking for ‘customer centricity’ and not ‘customer focus’ was enough to get me engaged.

After series of discussions among us and with the client; I got my module content ready for the class and what was most interesting for me is to learn how the participant executives viewed customer centricity. Most of them at first did not buy the idea of customer centricity! They had a valid argument to begin with; why a business that enjoys more demand than they could meet should go for this business philosophy? Sounds logical! and I am glad that they shared their concern. I had to understand their view point, from where they were coming to get the message across. Without this, I could never be sure of the training effectiveness, it remains a good to know kind information. And trust me! a set of sceptic participants give a facilitator tremendous opportunity to learn and facilitate learning. This blog is based on my learning through my sessions.

Just to put the formal understanding in place; the customer-centric marketing is defined as looking at a customer’s lifetime value and focusing your marketing efforts on the high-value customer segment in order to drive profits (Dr. Peter Fader, author of Customer Centricity).

How-the ‘execution’ part is what can make or break any good strategy. To get the execution right, the employees have to hold the philosophy, it has to be a part of organization culture much beyond the bullet points in ‘to do list’. Only the convinced and empowered executives can get the value delivered to your most valued customers. Why I emphasise on this, is until the employees who are the face of organization buy ‘a’ view point, their efforts will not be whole hearted. It is the critical element, if the time and efforts are not invested in transforming the employees towards this business philosophy, mere analytics and policies in place would not fetch any results to be called effective.

And how do you convince your employees? by letting them see the value of customer centricity for the business or for that matter any business philosophy; once they get it correct you will never have to command a control! In fact employees are going to get the ship sailing, getting new insights based on their interactions with customers and fine-tuning the policies to suit the customers.

Coming back to my sessions, as I already mentioned sceptic participants are a blessing in disguise! Once you get the message across you never have to worry about the effectiveness of your training session. An organization planning to bring in a significant change in strategy has to take care that it has not forgotten to educate its employees, getting them on board for finally the onus of effective execution is on them.

 

You can reach me at This email address is being protected from spambots. You need JavaScript enabled to view it. , I would be happy to hear your comments and suggestions

Hits: 1974
0

While all the malls, all the leading brands will go on sale on an average of 3 times a year, some of them sell, some of them won’t (at-least as much as they intended). Being a marketing disciple, I observe and I ask people their reasons to buy or not to buy. And here are some insights that some of you might find interesting.

Sale doesn’t sell

·         When Customer Value is not understood- the term ‘sale’ rings a typical bell in customer’s mind, certain expectations are formed to prepone a shopping, shop a product even when they don’t need it-just because it seems good value, even If they don’t want to shop-exploring the sale can be an option. Here’s marketer’s opportunity to demonstrate value to convert that footfall into sell. Many a times, prices are not dropped enough to show customer a value, sometimes prices are escalated and then dropped, customers are smart enough to find it all.

 

·         When presentation is poor- Especially if you are a high end retailer, your customers expect a certain level of presentation from you. Once a consumer has to choose from a shabby pile, the expected value of that product diminishes. And if at all he/she puts in that much effort, the product must be cheap. You can’t expect your regular high end customer who visits your sale to search from the pile only to find a price tag that doesn’t justify the value.

 

·         When Customer support is poor- It is understandable that higher footfalls will put in some pressures on your sales staff, however a significant low sales rep-customer ratio will put the customers down. She really liked a product after putting in a lot of effort only to realize that there’s no one to help her with the size availability is a turn off for any enthusiast shopper.

 

·         When billing counters look like a railway reservation counter- well thanks to irctc even the reservation counters are not as crowded as they used to be, a store’s inability to run enough billing counters to cater to an ongoing sale may lead to dropping off a shopping cart at last stage. And, there cannot be something worse than this. The customers’ efforts are wasted, store did not make any money, but the staff would have to put in significant effort in putting back the merchandise on place, overall a lose-lose situation.

 

·         When past failures are not analysed- sale has become a ritual, and once a retailer fails to realize why it didn’t sale enough last time the situation is not likely to change.

The last one is again a function of various factors or combination of factors mentioned above; retailer’s failure to understand customer value and provide a good customer experience can be blamed ‘why sale doesn’t sell’.

You can reach me at This email address is being protected from spambots. You need JavaScript enabled to view it. , I would be happy to hear your comments and suggestions

 

 

 

Tagged in: marketing
Hits: 1224
0
Posted by on in Marketing
Communication Essentials for a Leader

"Managers do things right. Leaders do the right things". If you have heard of this phrase before, it wouldn?t be surprising. And if you are a Designated Leader?, God forbid, you might have even spoken of it on numerous occasions.

We all hear these phrases in our daily lives time and again, but sometimes fail to understand their real meaning. Time to question ourselves; are we doing the right? things?

Hits: 3732

Posted by on in Marketing
Most managers accept that employers benefit from a diverse workforce, but the notion can be hard to prove or quantify, especially when it comes to measuring how diversity affects a firm’s ability to innovate.

But new research provides compelling evidence that diversity unlocks innovation and drives market growth—a finding that should intensify efforts to ensure that executive ranks both embody and embrace the power of differences.

In this research, which rests on a nationally representative survey of 1,800 professionals, 40 case studies, and numerous focus groups and interviews, we scrutinized two kinds of diversity: inherent and acquired. Inherent diversity involves traits you are born with, such as gender, ethnicity, and sexual orientation. Acquired diversity involves traits you gain from experience: Working in another country can help you appreciate cultural differences, for example, while selling to female consumers can give you gender smarts. We refer to companies whose leaders exhibit at least three inherent and three acquired diversity traits as having two-dimensional diversity.
Hits: 1291
0