The Chief Customer Officer (CCO) is still a fairly fresh idea for a lot of companies. The concept of this role stems from giants like Amazon, who started putting the customer at the heart of their entire business. Thus, resulting in many decisions being customer-led and impactful.
The CCO role can vary greatly from business to business, but at first glance, it can be seen as a traditional executive role that covers many angles: Operations, product, people & hiring, marketing, sales - sometimes as the core owner of those functions and other times as a key influencer. In this article, we’ll outline the role in more detail, the benefits of having a CCO and success stories.
The role of a CCO
A CCO will sit as a key role in the executive team, responsible for representing “the customer” across the business. The goal of the CCO is to increase the lifetime value and profitability of each customer. This involves (but isn’t limited to):
A big part of these responsibilities involves collaborating with other departments. But, the CCO should lead on all projects that directly link to the above.
Why we’re seeing a rise in CCOs
The pandemic has only strengthened the need for a CCO. Ultimately, organizations need to put their customers first now more than ever before. But, the benefits of this role have actually been around for quite some time, they’ve just been underestimated and overlooked.
There are two reasons your customers will return to your business:
A great service relies on excellent customer satisfaction. A valuable product needs to meet customer demands and needs. A memorable experience comes from strategic customer journeys and a trained team. So, you can see that a customer-centric approach isn’t one to be ignored. A CMO can acquire the customers, a CCO should keep them and enhance their value.
What organizations should look for in a CCO
GoCardless is an organization going from strength to strength, helping businesses simplify their recurring payments. Their CCO, Pat Phelan, has been at the forefront of supporting their customers throughout the pandemic. Key strategies to take note from GoCardless:
If you want to know more about the CCO role and what it might look like in your business - get in touch.
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