In 2013, as his company continued to cement itself as one of the world’s leading innovators, Amazon founder Jeff Bezos revealed that innovation was not even the top priority for his organisation. Instead, the most important measure of his team’s success was how happy their customers were.
“I would define Amazon by our big ideas, which are customer-centricity (and) putting the customer at the centre of everything we do,” he told 60 Minutes 1 before later expanding in Forbes: “We see our customers as invited guests to a party and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.” 2
Customer-centricity may be a relatively new buzz term but the concept is nothing new. From the first time a shopkeeper said: “The customer is always right”, organisations have realised the benefits of satisfying the needs and wants of people on the other side of the counter. What is different today is that customer-centricity has become a business strategy in its own right, with teams heavily invested in putting the customer at the heart of all decisions related to products, services and experiences to create satisfaction, loyalty and advocacy.
It is no surprise that research by Deloitte and Touche3 found that customer-centric companies are 60% more profitable than those not focused on the customer, while 64% of companies with a customer-focused CEO are more profitable than their competitors. It is one thing to know the importance of customer-centricity and another to stay ahead of the curve. With that in mind, here are four customer-centric trends set to shape 2023.
To return to where we began, Jeff Bezos has turned his Amazon dream into one of the world’s biggest companies and he has done so by never failing to forget the business’s best asset. “The most important single thing is to focus obsessively on the customer,” he said. “Our goal is to be the Earth’s most customer-centric company.” Bezos does not have sole rights to that goal though and by tapping into the above trends, other organisations can join him on a customer-driven journey in 2023.
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1. Amazon's Jeff Bezos looks to the future - CBS News
2. 5 Time-Tested Success Tips From Amazon Founder Jeff Bezos (forbes.com)
3. WM Digitalisierung.pdf (deloitte.com)
4. Amazon Opens First Physical Clothing Store, Amazon Style: Photos (businessinsider.com)
5. Subcommittee Analysis Reveals Excessive Corporate Price Hikes Have Hurt Consumers and Fueled Inflation, While Enriching Certain Companies | Interior News Wire
6. 9 Customer Experience Trends & Stats That'll Define the Next Year (hubspot.com)
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