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New Product Success
Balancing value creation with time-to-market
One of the biggest challenges for business leaders is deciding where to invest, when and how much. As they look to achieve or maintain market leadership they are constantly striving to find the next market offering that drives exponential growth, market differentiation and customer delight.
There is often no shortage of ideas. The challenge is framing and prioritizing; identifying the idea or concept that will be most relevant and be recognized as delivering the most customer value. There are always multiple ideas competing for limited resources with global competitors moving faster across local markets, increasing time-to-market pressures.
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It’s not about Customer Retention (tactics)!
Customer Retention (or Loyalty) is earned through long-term customer commitment not through short-term tactics …
Business leaders often try to attack customer attrition through short-term, short-sighted retention tactics (i.e. campaign-of-the-month or this Quarter’s service initiative …) without the commitment to discover root cause, improve customer interactions or change “customer-hostile” behaviors. Companies that take the time to know their customers, build trusting relationships and focus on delivering exceptional value … achieve high levels of customer loyalty and advocacy. Retention (or Loyalty) is earned through long-term customer commitment not through short-term business tactics.
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Delighting customers begins with discovering Value!
Understanding what your customers' Value creates opportunities for market leadership and differentiation …
In today’s crowded markets it can be difficult to differentiate your company from global competitors. Many business leaders have recognized the importance of customer experience as a means of differentiation. Creating an experience that is relevant, meaningful and delights begins with a commitment to understanding your customers. Quite often, companies don’t take the time to listen to what customers are anxious to share … what they truly Value. For successful companies, the focus on Value begins with actionable insights and remains a central thread as they look to deliver new solutions that drive market leadership and differentiation.
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Is Customer-Centric right for your company?
It’s important to know where you are today and where you want to go, in what timeframe…
Most business leaders immediately set their sights on being Customer-Centric. This is a great aspiration but it’s important to understand what customer culture exists today and the business change required to reach your customer destination. Business success is often the result of being customer-focused (or Customer-Centric) and establishing an environment where team members are empathetic and passionate about delivering an exceptional customer experience.
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