By Nicolas Darveau-Garneau, Chief Growth and Strategy Officer at Coveo,
former Chief Evangelist at Google, and Alida board member.
As Google's Chief Evangelist over the last three years, I worked with hundreds of C-level executives to help them accelerate their transformation to a more customer-centric strategy.
Is your company customer centric?
Here are three questions you can ask yourself to find out:
- Do you know what percent of your customers drive 80% of your revenues? Many C-level executives are so focused on financial metrics that they don't dig deeply into customer metrics. Companies that understand who their best customers are and what they care about design their strategy around these top customers and significantly outperform companies who design a strategy around the average.
- Do you know what drives average customers to become top customers? There are predictive models that can forecast a customer’s lifetime value (how much they’ll spend in the next few years) accurately. But, what if you can change that forecast and increase a customer's predicted lifetime value. For example, a retailer found that customers who start buying across multiple categories spend a lot more. Another retailer discovered that consumers who buy online and in store were much more valuable than the average.
- Can you quickly test and scale new ideas to increase customer lifetime value? Elon Musk famously said that he does not believe in competitive moats, that eventually many car companies will lower their battery costs, have an electric charging network, and figure out self-driving. What he believes is the only sustainable competitive advantage is velocity, moving faster than competitors. How quickly can your organization get customer insights? How fast can you test new ideas to address their core issues? When tests are successful, how quickly can you scale them?
Alida can help
I recently joined Alida's board because I believe Alida can quickly help C-suite executives become more customer centric. While there are other software companies that can help executives understand what customers care about, Alida's unique, cloud-based system is flexible and easy to use so you get better insights faster. Alida is also the only platform that lets you combine broad survey feedback with in-depth research from customers that matter most to uncover the “why” and “what next?” behind changing consumer preferences and priorities.
Talk to a member of the Alida team today to get started on your journey to customer-centricity.