Competency #1: Honor and Manage Customers as Assets
Know the Growth or Loss of Customers and Care About the “Why?”
With this competency, the goal is to align leaders to make a defining performance metric—the growth or loss of your customer base.
Customer Asset Measurement is about knowing what customers actually did to impact business growth or loss versus what they say they might do via survey results.
- how many new customers did you bring in this quarter, volume and value? (What is the power of your acquisition engine?)
- how many customers were lost this quarter, volume and value? (What is the power of the experience and value perceived?)
- how many customers increased their purchases?
- how many customers declined in their level of engagement with you?
The role of the Chief Customer Officer is to bring leaders together to establish Customer Asset Metrics and customer growth behaviors they will stand behind as a united leadership team.
This post is part of the article “Five Competencies for Chief Customer Officers” that originally appeared in the free eBook The 2015 Customer Experience Outlook, a collection of ideas from customer experience authors, designers, and industry leaders.