From the outset, leading companies make customers their focal point (see Figure 7.1). They understand that by putting customers’ needs and desires first, they can achieve a competitive advantage. They know all about their customers – who they are, what they want, and when they want it – and they know that building customer loyalty goes hand in hand with long-term sustainable growth. Even after becoming market leaders, these companies are constantly thinking about how to keep delivering for each and every customer in all markets in which they operate. They don’t stand still.
Having a strong customer focus in turn means having a strong offering in each of these areas:
- Customer experience
- Products, markets, and channels
- Sales and pricing
“The best entrepreneurs understand that their customers must be at the center of everything they do,” says Edwina Fitzmaurice, EY Global Advisory Markets, Business Development, Sector and Solutions Leader. “Whether leveraging digital technologies to enhance the customer experience, improving operations and supply chain to ensure efficient and effective delivery of goods and services demanded by customers, or using data analytics to truly understand customer behaviors, successful entrepreneurs use many levers to rapidly grow their ...