The Power Of Being Customer-led And How To Make It Happen

For a business to become truly customer-led, all teams across all departments must be aligned and working towards the same goal – prioritizing the customer. This relies on having the right technology and processes in place to support journey-centric practices. Those that do this have a significant competitive advantage. In this article, we explain how to move beyond the marketing department for a company-wide focus on CX.

Forrester’s Journey Centric Revolution Report states, “Journeys deliver customer and business results by providing key insights about customer intent (macro and micro goals), context (touchpoints, channels, location), and emotion (engagement, sentiment).”. This statement highlights the value and importance of customer journeys to businesses looking to adopt a customer-led approach. The insights they provide make it possible to better understand the actions needed to improve customer experiences end-to-end. But the question is, how can a CX team best capture these insights and use them to their advantage?

The answer is simple – to accelerate the customer-led transformation, businesses should be looking to utilize technology that helps them understand and respond to customers in the moment. Leaders in the market are already doing this, using leading customer journey analytics and real-time customer journey orchestration technology such as Alterian’s Real-Time CX Platform. Armed with these tools, teams can listen , understand, respond, and satisfy the needs of every single customer whenever they engage with their brand. The benefits of this are vast.

Five reasons to use customer journey analytics and real-time journey orchestration and become customer-led.

1 Competitive advantage
Understanding customers, optimizing their journeys, and delivering enhanced and individualized experiences provides many benefits to both the customer and the business. Delivering seamless customer experiences end-to-end helps to improve completion rates, reduce cost to serve, drive brand advocacy and loyalty, and improve NPS and CSAT. As a result, businesses build a sustainable advantage that helps them stand out from the crowd.
2 Positive brand image
Putting customer needs at the heart of all activity shows that you care about them and the experience they have with your brand. This fosters positive sentiment towards your brand and places you in a valuable position for success. A brand with a positive image is more likely to be chosen over competitors, see an increase in recurring purchases, have greater customer retention, and have more market appeal.
3 Reduced churn
Truly customer-led businesses prioritize the customer experience and customer satisfaction. Platforms offering customer journey analytics allow you to identify friction points in journeys that lead to dissatisfaction and drop-offs. When combined with real-time journey orchestration with AI capabilities,  businesses are able to then deliver an optimized and individualized experience to the customer, which increases satisfaction and lowers their likelihood to churn.
4 Increased loyalty
Customer-led businesses benefit from more loyal customers which equates to more repeat purchases, increased brand advocacy, and greater customer lifetime value. Given the cost of acquiring new customers is often higher than the cost associated with keeping customers satisfied, it’s a logical business decision to implement technology that helps make it happen.
5 Increased revenue
Businesses that utilize journey analytics have full visibility of customer experiences when engaging across multiple channels. These insights allow you to identify and resolve breakpoints and prioritize fixes that will increase revenue. Furthermore, journey orchestration enables you to deliver real-time experiences that personalize and optimize purchase journeys, reducing steps and customer effort, and improving speed-to-decision and conversions. Prioritizing a journey-centric approach to customer-led transformation also helps to drive revenue by creating experiences that promote repeat purchases and initiate cross-sell opportunities.

The bottom line

Businesses that remain skeptical about the benefits of adopting a customer-led approach and prioritizing journey-centric practices risk falling behind their competition. In a Boston Consulting Group study it was found that companies who adopt a customer-journey-at scale approach “can realize 20 to 40 percentage-point improvements in customer advocacy, cost reductions of between 15% and 25%, and revenue increases of from 10% to 20%.”

Contact us today to find out more about how Alterian’s Real-Time CX Platform can help you accelerate your customer-led transformation and benefit from journey-centric practices.

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