Curtis On…Customer Centricity as a Marketing Strategy: 1. Overview
In this first of a ten part series of videos, Curtis Bingham, Founder and Executive Director of the Chief Customer Officer Council on location at IQPC's CMO Exchange in London, July 2011, draws parallels between the components of a marketing strategy and the means to embed customer centricity within organizations.
Transcript for Curtis On…Customer Centricity as a Marketing Strategy: 1. Overview
I've created this list of nine key elements of a marketing strategy. Everything on here is stuff that you all live and breathe, and could do in your sleep. With a couple of variations, there's not a whole lot more that anybody would add to this mix.
You've got a goal. You've got an executive support for your marketing strategy. You have some sort of an offering, a product or service, whatever it might be, a desired audience. We talked just a little bit about segmentation and choosing the appropriate audience that you're looking for.
Channels of access, how do you reach these customers? Marketing communications, these are the advertisements and the PR and what not; promotions, incentives, metrics, and results.
So, if this is a marketing strategy (these are the nine key elements of a marketing strategy), what might be the elements of a customer-centricity strategy?
This looks familiar. It seems like we've seen this before. In truth, they're exactly the same. A marketing strategy is no different whether you're marketing a product or whether you're marketing a concept of customer centricity. This was a big ‘aha’ for one of the chief customer officers shortly after she had joined the Council and began looking with more detail about what it took to drive customer centricity. She realized that “Hey, this is just one big strategy.”
So, let's take a look at each of these items in its turn to look at how we’d go about adapting our marketing strategy that we're all very comfortable and very familiar with to driving customer centricity throughout our organizations.