Customer centricity is not just a topic for marketing departments, customer service or sales. When companies take customer centricity seriously, we also talk about financial metrics and measuring how far a company is progressing on the path to true customer centricity. This brings the CFO into the customer centricity game. The CFO: a key player on the customer experience team.
A company’s most valuable customers are those who create the most value for it.
Harvard Business Review Analytic Services Whitepaper (2021)
The HBR Whitepaper shows which (central) role CFOs play on the way to a customer-centric organization:
- A disciplined approach to customer lifetime value helps companies control costs even as they deliver a great CX.
- CFOs are shaping great CX by instilling a customer-centric mindset throughout the organization and aligning customerfacing parts of the business with the backstage departments and functions that support CX improvement.
- CFOs can link technology to incentives that promote cross-functional collaboration and help the organization sidestep the common mistakes that can hamper improvement.
- CFOs drive via metrics that guide CX teams toward the customers with the greatest potential value.
- CFOs can help shape the organization’s culture and prioritize its CX improvement efforts.
- CFOs have the opportunity to speak the language of stock returns to convince senior executives, rank-and-file employees, and the financial markets of the economic value of customer-centricity and a superior CX.
This article will bring you to one conclusion: the CFO is a key player on the customer experience team.
Read the full article from HBR here or download as pdf
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