What is customer centricity and how to achieve it

Building successful products requires a deep understanding of customer needs and a commitment to customer centricity, which places the customer at the core of product development processes. Essential components of being customer-centric include understanding customer situations, problems, perceptions, and experiences to create solutions that truly address their needs. Companies benefit from adopting a customer-centric approach through increased word-of-mouth promotion, enhanced product team engagement, and reduced development costs by focusing only on features that matter to customers. Practical steps to achieve customer centricity involve establishing communication channels for feedback, optimizing customer journeys, and testing products with customers. Metrics such as churn rate, Net Promoter Score (NPS), customer feedback surveys, and time to value can help measure success in this area. Exemplary customer-centric companies like Shopify and Samsung demonstrate the effectiveness of involving customers in product development and utilizing technology to enhance customer interaction, ultimately driving higher satisfaction and engagement levels.