In this episode David & Cory are joined by Martin Newman, a champion of customers… we talk about how empowering customers can be a disruptive strategy and differentiate brands in a world where endless choice and lower switching costs puts the consumer back in the driver’s seat.
00:40 – Designing experiences
01:53 – Can Customer-centricty be a disruptive strategy?
01:59 – Welcome Martin Newman, the Customer Champion
02:25 – Links to Books / Mini MBA
06:00 – It’s all about empowering customers
08:38 – How Neobanks are disrupting the banking industry through customer-centric attitudes
10:54 – Switching Costs & Customercentricity
15:00 – Can you automate customer experience?
19:00 – Short term KPIs versus building long term customer lifetime value
23:23 – Is Web3 customercentric? How do we put the customer front and center
32:53 – What can B2B companies teach B2C about customercentricity? What can B2C teach B2B?
38:44 – Start with Customer Lifetime Value and work back
42:56 – Do businesses have the right data? Are they focussing on the right metrics?
50:35 – Why would you ever let a customer get to a point where they would go to Twitter.
53:14 – Common Sense
Setting the Scene…
It seems incredible that 4000+ years after the invention of commerce there needs to be a concept of customer-centricity.
Putting the customer first seems to be a fairly obvious strategy for success…But there are other stakeholders – owners, shareholders, employees, regulators, even influencers….
A few weeks ago we talked about experience and how to design end to end journeys for users and customers… but experiences don’t have to be customer-centric… the overarching principle could be to reduce cost…
One of the most DISRUPTIVE practices, powered by phones with ‘Always On’ internet and cameras is … Ratings and Reviews – Trustpilot, Tripadvisor, Uber… Taxi drivers were rude, regularly ripped off customers because they assumed tourists were one-time customers. Apps that added user reviews and ratings changed the industry completely.
So can user-centricity be a disruptive ‘technology?’ This week, we talk to someone who has made it his mission to be a Customer Champion…Martin Newman
