Customer Strategic Objectives
Customer objectives are typically written like customer goals. Sometimes they are written in the form of a phrase or a statement that a customer would say when talking about your product or service.
Kaplan and Norton devised a framework based on four perspectives – financial, customer, internal and learning and growth. Here is an example of of how Customer Strategic Objectives may fit in an organisation.
Customer Strategic Objectives are typically written like customer goals. Here are some Customer Objectives examples that you may like use and expand on.
Best value for the cost:
This means that your customers know they are not purchasing the most expensive product or service—or even the highest quality— but that they are getting the best deal. This may mean your customers are paying less than average and getting an average or above-average product.
Broad product offering:
This objective works if your strategy is to be able to offer the customer the best product in its class, regardless of price. In the hotel industry, for example, this could reflect the strategy of the Four Seasons or Ritz Carlton.
If your organisation takes pride in the reliability of your product or service, this objective—which reflects that you are targeting customers that also value this reliability—may be right for you. This could indicate the on-time reliability of an airline or the dependable reliability of a printer that generates high-quality output.
Cross-sell more products:
Some organisations—like banks or office product companies—focus on selling more products to the same customers. This strategy acknowledges that you already have the customer but can make money by selling them more.
This customer strategy focuses on selling to more customers, thus increasing the market share. For example, if your organisation is a landscape company, you are likely trying to reach more households—or if your organisation is a hospital, you likely want more of the local population to use your services.
This customer strategy focuses on gaining more purchases from the same customers. If you sell fertiliser, for example, you want each customer to purchase a larger percentage of their fertiliser spend with your organisation rather than with your competitors.
Partner with customers to provide solutions:
This strategy reflects customer intimacy. As part of this strategy, you may deliver service-oriented solutions or have customers participate in research and development with your organisation. Partnering comes at a cost but tends to foster more customer loyalty across your organisation.
This strategy indicates you want your customers to consider your organisation easy to deal with. Customers may choose to work with you even if you have a product similar to your competitors—simply because your service is better.
Understands my needs:
This objective also reflects a customer intimacy strategy. The customer feels like you understand their needs, so they choose your organisation’s products and services because they are targeted for their specific problem or situation.
The internal perspective is typically focused on processes that your organisation must excel at. According to Michael Treacy and Fred Wiersema these processes can be divided into three areas: innovation, customer intimacy, and operational excellence.
KPI Examples – (21st Century) Key Performance Indicators For Your Business
A KPI is a measurable value used by organisation’s as a way to keep track of and determine progress on a specific business objective. KPIs allow organisations to evaluate how well they’re performing on business objectives, and if current behaviours should be continued or if a change of strategies is needed. This handout provides 84 KPI examples for your business, we also include a brief description of why you may want to use each. We suggest you pick at least 2 KPIs for each of your key business objectives.
The best KPIs for your organisation starts with defining your business objectives and then designing KPIs that measure them.
This list is perfect for those who have already defined their business objectives and are looking for some inspiration around ways to measure these objectives.