In day to day frenzy of loyalty marketing, the sustainability of loyalty efforts often goes ignored. So whose job is it to drive that? We think its the C-Suite. When the C-suite is really committed to driving customer loyalty, they put a lot of emphasis on the DNA shift that's required to sustain it. And that’s the level at which those types of shifts have to be initiated and driven throughout the organization.
Getting Customer Centricity Into Your DNA
The shift in DNA needs to be towards a more customer centric approach. A nice theoretical statement but how does that work within the realities of day-to-day business pressures? One of the key steps to achieving that is to create a greater understanding across the organization of how retaining existing customers impacts your business model from top to bottom. Team members don't change their thinking based on principles, they do it because it aligns to the parts of the business (model) that they are focused on.
Visualizing Your Business Model
When companies do something which we call Business Model Visualization, they get a clearer picture of the connection of loyalty among key customer groups to all the key line items in the company's financials. In the end, although the human and subjective factors are dominant, a company runs based a business model and its growth and profitability are determined by the ongoing changes in different line items. Gaining this type of alignment is a key responsibility of the C-Suite and a key factor for building sustainable customer loyalty efforts.
Business model visualization is a process we've completed successfully multiple times and it's been transformational for driving customer loyalty -- by getting everyone from the sales team to the CFO aligned around the impact that customer loyalty can have on the overall business model.