Customer Strategy Definition

A customer strategy is a plan for how to deliver a good customer experience.

A customer strategy, often called a customer experience strategy, is a plan for creating or improving the customer experience you provide. A good strategy considers your customers, their needs, and how you can best meet them.

Considerations

Customers are the driving force of any business that derives profit from them. Acquiring new customers is expensive in both time and money. Once a customer is acquired, companies should focus on increasing his level of buying and retaining him for the long term.

Common Strategies

As of August 2010, common strategies to attract and retain customers include cross-selling and up-selling, product bundling, touch point management, loyalty and rewards programs, service quality management, and customer relationship management programs. These strategies are used to attract discerning customers, give them a high level customer experience, and retain them over time.

Challenges

Most companies have goals and strategies intended to give customers a good experience. Challenges include lack of top-level control over front-end service and sales, lack of employee buy-in to service goals, lack of customer knowledge, and lack of training for staff.

References

• Genroe: cpSTRAT: Customer Profitability Strategy
• Clear Action: Customer Experience Strategy
• Bizcovering: How to Create a Good Customer Experience