Customer-centric platform models are the future
Today’s customers are seeking phenomenal experiences. They want companies to get a deeper understanding of them and delight them with each interaction. Products aren’t the main differentiator anymore, instead companies are competing for the hearts and minds of all customers. Disruptive companies have embraced a platform-based model with digital channels at the core and a singular focus on customer centricity.
As a result of digital interactions, businesses have access to customer data and insights that can be harnessed and analyzed through key metrics to create a powerful feedback loop for long-term success. The technology industry, especially software, has been at the forefront of detailed data collection and data-driven decision making. This experience can now extend to most sectors that are embracing digital transformation and where customer experience is a differentiator.
Experience-centric business models have demonstrated superior performance and a sustainable competitive advantage. The future success of companies across sectors will be defined by their ability to provide customers contextualized and personalized experiences at every stage of the customer journey.
In this publication, we present a framework for metrics to be collected and analyzed across five stages of the customer journey—cultivate, land, adopt, expand, and renew (CLAER). These stages define the customer journey from initial awareness through engagement with the product/service to, ultimately, (continuous) renewal or separation. Learn more by downloading the paper below.