Customer perspective - what is the customer perspective?
The fundamental reason for a company it is based on customer relationships, all the effort invested in developing new product or service will lost if nobody knows or nobody needs.
Aforetime managing customer was based and focused on the point process of sale, the new economy based the customer management in its relations or sets with them, tools and management models such as CRM (customer relationship management) allow companies to know how to manage their relationships with their customers.
The Balanced Scorecard (BSC) through customer perspective, define the strategies needed to select, obtain, satisfy and retain the customers that are the base of the nature and reason of the organization or company.
The customer perspective of the Balanced Scorecard defined 4 strategies to follow:
The first thing that a company or organization has to do is know or define who can offer their products or services, for do this are performed market niches and segmentation research, the main objective is to identify and select the customer group to which we will propose our products or services.
The value proposition defines the product, price, service, relationship and image of our company or organization offers its customers.
Are you focused your resources and efforts in selling high-class products for young students without earnings?, The selection of customer allows us to identify and define the value proposition that allows us to obtain the success of your company or organization.
The customer acquisition strategy allows us to define the means and actions to get the customer to buy or use your product or service for the first time.
Advertising in various media (internet, television, radio, newspaper…)is undoubtedly one of the best tools that provide directly the acquisition of new customers, the main objective is to communicate to our target customers the value proposition that will satisfy your needs.
It is a reality that is cheaper to retain customers than acquiring new customers to replace those lost. The customer retention strategy develops the necessary actions for develop and increase the loyalty of our customers. Centers and customer care facilities, cards and points programs, discounts and promotions to customers, are among other actions that you can take to retain and loyal customers.
The potential of a loyal and satisfied customer is huge; a brand loyal customer is willing to pay a higher price as well as communicate and promote free (by word of mouth, social networks ...) our product or service and generating new customers and new revenue.
Establish relationships - Increase customers
The customer growth strategy enables new revenue through the sale of other products or services of others and / or complementary to those already offered (cross selling) as well as acquiring new customers.
Programs and campaigns such as "bring a friend and we make a discount", "Expand your services by just" are clear examples of actions related to customer growth strategy.
Indicators of the customer perspective
There are a wide range of indicators that can be used to monitor the success of the strategies established in the customer perspective, must be the organization or company that set the appropriate indicator and how to measure it, then presents several examples of indicators that can be used in defining and monitoring the customer perspective:
Percentage of unprofitable customers
Percentage of target customers
Percentage of niche markets found
Percentage of customers who have used a promotion
Cost of acquiring a new customer
Percentage of repeat customers
Percentage of new customers acquired through a promotion
Number of hours spent with customers
Investments made in the area of Marketing
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Excel scorecard - Balanced scorecard in Excel
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Next Chapter: Internal bussiness process perspective