Customers are the lifeblood of any organization and the heart of the demand-driven economy. Scores of books have been written about the importance of customers, ways to provide value to them, and the need for a company to be customer-oriented. Senior executives in all industries readily agree that customers are critical to the survival of a firm, that customers are their most valuable assets, and that their entire organization must be customer-centric. Yet, in spite of the apparently universal acceptance of the importance of customers, the actions of most firms don't always match this talk. Despite billions of dollars being spent by firms on advertising, customer satisfaction, and customer relationship management programs, many firms still fail to put customers at the center of their organization. This article looks at this issue in a new perspective and suggests strategies to build customer-centric organizations for growth and development.

How many times as a customer have you found yourself waiting on hold, listening to a phone message saying how important you are to the firm? Or discovered that when you are ready to cash in thousands of hard-earned points from your loyalty program that you have suddenly become a second-tier customer? Or entered a national restaurant chain only to find that the service, cleanliness, and even the products look nothing like what you saw in their appetizing TV commercials?

Star Customers receive high value from a firm's products and services and provide high value in the form of high margins, loyalty, and retention. The result is a mutually beneficial (win-win) relationship. Companies should identify and build on this type of customer. The opposite of the star customer is the Lost Cause who does not get much value from firm's products and services. If they provide any marginal value to the firm it may be to allow for economies of scale. Otherwise, companies should consider reducing investment in them.

The third component of the customer experience is innovation. A great customer-centric company does not sit on its laurels with the same experience year after year. Innovations include anything that improves end consumers' personal lives and business consumers' work life. Innovations demonstrate the company's commitment to the customer and are what keep the experience compelling, relevant, and unique.

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