Customer centricity: A key priority across all lines of business

In today’s content and product-saturated marketplace, personalisation is the key to standing apart from the competition. By 2020, customer experience is expected to overtake price and product as the key brand differentiator, and companies globally will lose over 300 billion USD each year due to poor customer experience.
Given those numbers, failure to personalise customer engagement will negatively impact an organisation’s conversion and retention rates, making it difficult or impossible to remain competitive. While a highly relevant customer experience is essential, simply implementing a personalised marketing strategy is no longer enough – it is necessary that organizations structure themselves around the customer across all lines of business. They must stop looking at customers from siloed marketing, sales, and service perspectives, and leverage a 360° view of the customer that accounts for every interaction they have with the brand.