ft-strategies-logo-1
Download report
 

Companies urgently need to shift to a more customer-centric approach

The pandemic has intensified the race to transform to a more customer-centric
approach, with many firms reporting plunging revenues and average spend.

36%

of executives report that average spend per customer
has decreased since the pandemic broke

47%

report a decrease in revenue over the same period

Customer engagement drives enhanced performance

So how can companies take back control of the customer relationship and build more meaningful connections?

In this ground-breaking FT Strategies report, which is based on in-depth research among 454 executives worldwide and interviews with leaders at companies including Ocado, Pret a Manger and Virgin Money, you will discover the powerful link between a data-led, customer-centric approach and financial performance.

Our research shows how a group of businesses, which we call customer engagement leaders, is significantly outperforming their peers. These leaders benefit not just from strong client relationships, but also from higher revenues, net promoter score and
spend per customer.

Percentage growth over the last 3 years

The five habits of customer engagement leaders

The report explores the steps that companies need to take to become customer engagement leaders, and provides practical recommendations focusing on five key areas.

  1. Strengthening data capabilities. How gathering and utilising valuable data about your customers will allow you to understand and serve them better
  2. Personalising the customer experience. How personalisation enables you to learn what customers like and need, helping you to predict behaviour and determine the next best action to serve them
  3. Accelerating your digital offering. The power of a digital offering to ensure you are meeting customer expectations, increasing engagement and lowering costs
  4. Implementing a customer-centric strategy. How defining a customer-focused, North Star goal that the whole business aims for is one of the most powerful tools that you can use to build a customer-centric strategy
  5. Consider a recurring revenue model. Why recurring revenue models provide your customers with convenience, value and a personalised experience – which helps to breed loyalty and gives you access to valuable customer data

To find out more and download the report for free, please click below.

Download report