Category: Business

Top 10 Challenges of Mid-Sized CPG Companies: Insights, Statistics and Real-World Solutions

Posted on by Denyse Drummond-Dunn

Executives and business owners of mid-sized CPG companies face a unique set of challenges that differ from those of startups or larger enterprises.

These challenges stem from the need to balance growth, operations, and innovation while competing with both larger firms and more agile startups.

Here are the top ten challenges mid-sized consumer goods companies face, real-world examples of businesses that have successfully overcome these obstacles, and expanded solutions explaining how to implement these strategies in your own organisation.

If you prefer to listen rather than read, click below.

 

Executive Summary

For those of you who tend to skim-read and only look at the bottom of an article to read the conclusions, here’s one better, an Executive Summary!

All companies struggle at times and mid-sized businesses have their own specific problems to solve without the resources of the larger organisations. The examples in this article show it is not only possible but sometimes in just a year or two. Check out the issue you’re struggling with and jump to the example for a quick solution.

  1. Prose: Improved employee retention by 20% over 2 years.
  2. Chobani: Achieved double-digit revenue growth annually over 5 years.
  3. RXBAR: Improved cash flow by 15% in 18 months.
  4. KIND Snacks: Grew DTC sales by 25% in 3 years.
  5. Beyond Meat: Became a leading player in the plant-based market over 5 years.
  6. Gatorade: Increased consumer engagement and repeat purchases over 2 years.
  7. Seventh Generation: Avoided fines and strengthened market position in 3 years.
  8. Clif Bar: Successfully transitioned key executives over 5 years.
  9. Mondelez International: Reduced waste by 15% in 3 years.
  10. Nestlé: Pivoted towards health and wellness trends over 5 years.

Mid-sized CPG companies face a unique set of challenges as they navigate the complexities of growth, supply chain management, consumer trends, and competition from larger and smaller brands.

Here are the top ten challenges faced by CPG companies, supported by statistics and real-world examples, along with actionable solutions tailored to this industry.

 

1. Talent Acquisition and Retention in CPG

Attracting and retaining talent is particularly challenging in the CPG industry due to high turnover in manufacturing, distribution, and sales roles, coupled with increased competition for digital talent needed for e-commerce and data-driven marketing.

A 2023 report by Deloitte found that 66% of CPG executives identify talent acquisition and retention as a key business challenge. Additionally, the turnover rate for manufacturing jobs in the U.S. stood at 29% in 2022, further exacerbating the issue.

The solution to this particular challenge is to build a strong employer brand and invest in workforce development.

To attract and retain the right talent, mid-sized CPG companies need to focus on building their employer brand while investing in continuous training programs. Here’s how:

  1. Develop Your Employer Brand:
    • Promote your company’s purpose and values, particularly around sustainability and innovation, to attract younger talent interested in making
… Click to continue reading

Unlocking the Huge Untapped Potential for SMEs through the Superior Use of Data

Posted on by Denyse Drummond-Dunn

All CEOs face many challenges, perhaps those of small and mid-sized companies more so than others. However, the current data-rich environment offers an enormous untapped potential for SMEs. Let me explain.

Today’s technically advanced and data-rich environment makes the strategic use of data a crucial element for success. While many companies recognise the importance of its leverage for marketing purposes, an often overlooked aspect holds immense potential: the comprehensive and superior use of customer-centric data. This is what I want to cover in this post.

If you would rather listen than read:

 

Understanding the Potential for SMEs to Use More Customer-Centric Data

Superior use of customer-centric data means going beyond basic data collection and analysis to integrate customer insights into every facet of a business. This holistic approach uses data to enhance product development, service enhancement, operational efficiency, and strategic planning.

Let’s look into each of these in more detail.

Why the Superior Use of Data Matters

1. Personalised Customer Experiences: Superior data utilisation helps all organisations, especially SMEs, create personalised experiences that resonate with individual customers.

Businesses can tailor their offerings, communications, and engagements to create meaningful connections by understanding customers’ preferences, behaviours, and needs. According to a report by Epsilon, 80% of customers are more likely to make a purchase from a brand that provides personalised experiences.

2. Predictive Insights for Proactive Strategies: Leveraging data allows SMEs to anticipate trends and predict future behaviours.

This foresight enables proactive strategies, such as developing new products or services that address emerging needs or adjusting marketing tactics to stay ahead of the competition. Gartner predicts that by 2025, AI-driven businesses will be able to capture up to $2.9 trillion in business value.

3. Enhanced Decision-Making: Data-driven decision-making eliminates guesswork and reduces the risk of costly mistakes. SMEs can make informed choices based on concrete evidence, leading to more effective resource allocation and improved outcomes. According to McKinsey, data-driven organisations are 23 times more likely to acquire customers, six times more likely to retain customers, and 19 times more likely to be profitable.

4. Operational Efficiency: Analysing customer data has huge potential for SMEs to identify inefficiencies and streamline processes. This enhances productivity, contributes to cost savings, and improves the overall customer experience. A Forrester study found that organisations leveraging data effectively see a 10% reduction in operational costs.

If you are an executive who believes you have untapped potential in your own organisation and would like to discuss your current challenges in data usage, innovation, or marketing, then why not CONTACT US? In a 30-minute CALL, you will walk away with at least three suggested actions immediately impacting your business.  

Transforming Marketing with Superior Data Utilization

The power of superior data use cannot be overstated for marketing heads. It revolutionises how marketing strategies are conceived, executed, and evaluated.

However, this means that they can no longer rely on creativity alone. They need to

… Click to continue reading

A Comprehensive Guide to Overcoming the Most Common Data Integration Challenges

Posted on by Denyse Drummond-Dunn

Insight development is based on gathering information, then data integration and analysis. However, organisations often find this challenging due to multiple sources, formats and time scales. Do you?

Many companies struggle to benefit from all their data and information because they don’t know how to turn it into insight, or their insights remain interesting but not actionable. There are many reasons for this.

From data quality issues to technological limitations and resistance to change, organisations must navigate a complex landscape to unlock the full potential of their data.

This comprehensive guide delves into the ten most common challenges in insight development, offering detailed analysis and strategies to overcome each obstacle, ensuring your organization can harness data for strategic advantage.

If you prefer to listen rather than read:

 

What an Actionable Insight Really is

I get so frustrated when people refer to numbers, data, or the findings from research projects as insights. None of these are!

In addition, developing actionable insights from a single survey is rare.

The reason is that insight development, getting to that “aha” moment that everyone immediately understands and wonders why no one thought of before, needs a 360 perspective of the challenge or opportunity under investigation and uses information from multiple sources.

There are many definitions of insight, but the one that I use, and that resonates with my clients, is a statement that impacts the attitudes or behaviours of current or potential customers/shoppers of a brand or category based on a human truth that results in an emotional response.

At first glance, this may seem like quite a mouthful, so to simplify retention, I refer to it as ABCDE:

A = Attitudes and Actions

B = Brand or Category

C = Customer, consumer, client or shopper

D = Deep human truth

E = Emotional response

To fast-track your understanding, here are some great examples of the insights behind some of the best-known brands:

  • Heineken Jillz: I want to drink alcohol on a night out, but I don’t like beer and wine is too variable in quality.
  • Kraft Philadelphia: Food is delicious, but I don’t want to eat too much fat (butter versus cream cheese).
  • DTC Diamonds: I want to stand out (shine), but as a modern woman, I also want to be seen as gentle and feminine.
  • Unilever Dove: I want to be admired for my beauty on the inside, not for what I look like on the outside.
  • AXE (Lynx in UK): I (young men) want to attract as many beautiful and sexy women as possible.
  • Haribo Starmix: There’s a child inside every adult.
  • Dulux sample paint pots: I love to decorate my home, but I don’t want to look stupid by choosing the wrong colour.

You’ll notice that most are written in the first person as if the target audience is speaking. This makes it much easier to understand and resonate with the reader without much effort … Click to continue reading

Using AI to Delight Your Customers With More AI (Authentic Interactions)

Posted on by Denyse Drummond-Dunn

Artificial Intelligence (AI) has become an integral part of our daily lives and has revolutionized how we interact with technology and businesses. This post discusses how to use AI to enhance customer experience with another AI, authentic interactions.

Over the past year, the AI landscape has witnessed a significant shift from AI versus AI competitions to AI working in collaboration with AI. Although AI-driven interactions have made significant progress, it is time to take them to the next level by integrating authentic interactions with AI to deliver exceptional customer experiences.

Let’s examine how AI has evolved in customer relations and explore ten ways businesses can integrate authentic interactions with AI to enhance customer experiences.

Get ready to delve into a world where technology meets humanity, where the future of customer engagement is not AI versus AI, but AI working in tandem with AI.

If you’d prefer to listen rather than read:

 

The Evolution of AI in Authentic Interactions with Customers

Over the years, AI has greatly evolved in customer interactions. Initially, AI was used to automate monotonous tasks and to provide quick and efficient responses to customer inquiries. However, the early AI systems were often inflexible and could not understand and adapt to the subtleties of human communication.

With the advances in AI technology, we have seen the emergence of chatbots and virtual assistants that can engage in more natural and context-aware conversations.

This development has led to a shift from the traditional AI versus AI approach, where AI tries to outsmart or outperform other AIs, to a more collaborative approach known as AI + AI.

 

AI + AI: The Future of Customer Engagements

The combination of AI and AI marks a significant change in how businesses utilize AI technologies for authentic customer interactions. Instead of setting one AI system against another, businesses are now concentrating on integrating multiple AI components to function together fluidly, ultimately improving customer experiences.

Here are ten methods to integrate authentic interactions with AI to achieve this goal:

1. Embracing Emotional Intelligence (EI) is crucial for AI. It involves training algorithms to recognize and respond to human emotions by understanding cues such as tone of voice, choice of words, and facial expressions.

This helps AI gauge a customer’s emotional state and respond appropriately with empathy and support. When AI acknowledges customers’ feelings, they feel heard and valued and can offer personalized solutions.

Pre-programmed responses should be banned as they are easily recognized and do more harm than good. Call centre representatives should be given the autonomy to do what’s best for the customer within certain guidelines. If you’d like to read more about delivering best-in-class customer service, read the post: “7 Ways to Deliver Awesome Customer Service & Build Loyal Advocates”

2. Human-AI hybrid teams combine the best of both worlds by utilizing the strengths of humans and AI systems. AI is highly efficient in handling routine tasks and queries, allowing

… Click to continue reading

Navigate a Challenging Business Environment and Stay Ahead of Your Competition

Posted on by Denyse Drummond-Dunn

When facing a challenging business environment, which these days is true for almost every industry, companies don’t always have the time to make considered decisions. Agility has become a much-needed skill.

So, how can companies be better prepared for whatever the future holds? 

Agility needs preparation and with this in mind, most major organisations conduct some sort of societal trend following in the hope that they will correctly “guess” what might happen. You may be one of them. So it might surprise you that I believe this is a huge mistake, especially if you think that trends alone will better prepare your organisation!

Think about it. Most companies follow the same trends, attend the same trend “shows” & conferences, and get the same or at least very similar reports.

This results in them all working on the same ideas and concepts, and eventually launching very similar products and services or campaigns, that struggle to compete effectively.

Have you never wondered why suddenly everyone is talking about a certain topic, using similar slogans, or launching equivalent offers? Now you know why!

Here’s how to avoid this and develop a powerful competitive advantage.

If you’d prefer to listen rather than read:

 

Market Evidence

I want to start by sharing just one example of the problem I just mentioned. A few years ago, we started seeing many companies using the idea of “YES” and “NO” in their advertising. In Europe, these included:

  • The Swiss Migros Bank: see the videos here – only in French & German, I’m afraid but still easy to understand whatever language you speak.
  • Coke’s “Say Yes to Love” campaign.
  • Coke say yes to love

 

  • BMW 320i  Campaign YES YOU CAN

 

These are just three examples from very different industries, but I’m sure there are many others in your own country. (If so, please share the example in the comments below.)

Clearly, the trend for more independence and freedom has been emphasised in all three organisations mentioned above. Perhaps they are working with the same trend or advertising agency? Or maybe they are buying the same external trends report. It certainly looks like it, doesn’t it?

Companies that develop concepts based upon this type of external resource alone can find themselves in a race to be the first to market when using the ideas these reports suggest.

Incidentally, it is not always best to be the first when introducing new concepts to consumers, especially when they require learning new ways of thinking or working.

So what can you do about it? The vital step that many – dare I say most – organisations don’t take, is to turn the trends they are following into plausible future scenarios.

Scenario planning ensures original thinking from which proprietary ideas are conceived, and takes the development of new concepts in-house, where it belongs.

Then, the new product and service concepts, the new advertising campaigns, and the new promotions that are designed are unlikely to be … Click to continue reading

The Power of Creativity: How to Foster Innovation in Your Organization

Posted on by Denyse Drummond-Dunn

How important is innovation in your organisation? You’re missing out on revenue and growth if it is not one of your top three objectives!

Innovation isn’t just a buzzword; it’s a critical component of success. Companies that embrace innovation consistently outperform their competitors, adapt to changing market conditions, and create sustainable growth.

To truly ignite innovation, organizations must foster a culture of creativity and continuous improvement. In this blog post, we’ll explore the importance of this culture and provide insights, statistics, and real-world examples to help you cultivate it within your own company.

 

The Imperative of Innovation in Your Organisation

Innovation is not an option but a necessity. Customers rarely stay satisfied for long these days and are constantly looking for something better.

According to a PwC Global Innovation Survey, 80% of CEOs believe innovation is a key driver for business growth. This sentiment is supported by hard numbers: Companies that prioritize innovation are 50% more likely to outperform their peers over a ten-year period, as reported by McKinsey.

But what exactly is innovation? Wikipedia defines it as:

The practical implementation of ideas that results in the introduction of new goods or services or improvement in offering goods or services.

As you can see it has ideation as its foundation, which already gives an indication about nurturing it in organisations.

It is usually accepted that there are three main types of innovation: product innovation, process innovation, and business model innovation. Since I always try to take the customer’s perspective, we will be concentrating on product and, to a lesser extent, service innovation in this article.

So, how can you leverage the power of innovation in your organisation to drive growth, stay competitive, and future-proof your business? The answer lies in creating a culture that values creativity and continuous improvement.

 

Creating a Culture of Creativity

There are three main ways you can encourage more creativity in your business. Or should I say there are three ways to stifle creativity if you don’t follow these three rules?

Encourage Open Communication: Open and free communication is one of the cornerstones of a creative culture. Employees who feel heard and valued are likelier to share their ideas and insights.

In a study conducted by Gallup, organizations with high employee engagement were found to be 21% more profitable and 17% more productive than those with disengaged staff.

Engaged employees outperform their peers because they tend to be more innovative, and efficient, and have higher customer retention rates. This illustrates that a culture of creativity isn’t just about generating ideas; it’s about harnessing the collective intelligence of your workforce.

Example: Google is a great example of a company that has understood and embraced this concept. Their famous “20% time” policy, where employees are encouraged to spend 20% of their work hours on projects of their choosing, has led to innovations like Gmail and Google News.

Embrace Diversity: Diverse teams are more likely to generate innovative ideas. We all know that men and women … Click to continue reading

Building Customer Trust and Loyalty: The Foundation of Successful Businesses

Posted on by Denyse Drummond-Dunn

In the ever-changing landscape of business today, one factor remains timeless and invaluable: building customer trust and loyalty.

Trust and loyalty are the cornerstones that sustain a business and drive customer retention, advocacy, and long-term profitability. In today’s competitive market, where options abound, and consumer preferences constantly shift, nurturing trust has become more critical than ever.

 

The Difference Between Customer Trust and Loyalty

Let me start by clarifying the difference between trust and loyalty. Although they are closely connected, they are not the same. Loyalty is faithfulness or commitment to a company or brand. At the same time, trust is the customer’s reliance on its integrity.

So how do you go about gaining customer loyalty and trust? Since customers will not remain loyal to companies they don’t trust, building confidence is the right place to start. And to do that, you need to make customer service a priority.

 

Understanding the Value of Customer Trust

In the realm of commerce, trust is akin to gold. It’s the currency upon which customer relationships are built, purchase decisions are influenced, and brand reputations are forged.

According to the 2023 Edelman Trust Barometer businesses are trusted more than governments these days! Only five countries among those covered in the research still trust their governments more – Sweden, China, UAE, Saudi Arabia and Singapore.

This emphasizes how trust creates a sense of security, assuring customers that they’re making a wise investment. But it is also a huge responsibility for brands not to destroy this trust by actions which are anything less than totally honest.

 

The Elements of Customer Trust

Reliability, transparency, integrity, and security form the core elements of customer trust. Businesses that consistently deliver on their promises, openly communicate their practices, act ethically, and safeguard customer data foster trust.

According to an analysis run by GWI, brand trust plays an increasingly larger role in consumers’ purchase journey. Beyond quality and cost (the biggest influences on purchase), having brands they can trust (32%), that come with positive reviews (31%) and a good reputation (31%) are the next leading incentives for consumers when deciding who to buy from.

Trust is cultivated through actions, not just words, and by exhibiting these qualities, businesses bridge the gap between scepticism and confidence, establishing a foundation for meaningful relationships between brands and their customers.

 

The Impact of Trust on Customer Loyalty

As already mentioned trust and customer loyalty are inextricably linked. Trust fosters emotional connections, encouraging customers to not only make repeat purchases but also advocate for the brand. A loyal customer becomes a brand ambassador, spreading positive word-of-mouth that’s far more persuasive than any marketing campaign.

According to Nielsen, 92% of consumers trust recommendations from friends and family over any other form of advertising. Through trust, businesses secure a loyal customer base that propels growth.

 

Aligning Brand Promise and Customer Experience

A brand promise is more than just a tagline or slogan, it’s a commitment to each and every customer. When businesses uphold this

… Click to continue reading

The Little Known Disadvantages of a Customer-first Strategy

Posted on by Denyse Drummond-Dunn

The business world has significantly shifted in recent years, and I, for one, am excited to see so many companies adopting a customer-first strategy.

However, like any strategy, a customer-first approach has pros and cons. Therefore I thought it would be helpful to consider both the advantages and disadvantages of a customer-first plan.

 

Advantages of a Customer-First Strategy

If you regularly read my posts, you will know that I’m passionate about companies adopting and improving their customer-first strategies. There is so much going for it, as I will explain below.

1. Improved Customer Satisfaction

One of the primary advantages of a customer-first strategy is that it leads to improved customer satisfaction. By placing the needs and desires of the customer at the centre of all business decisions, companies can create products and services that better meet their customers’ needs. This can lead to increased customer loyalty and positive word-of-mouth advertising.

As an example of this, think about Amazon, which is well known for its customer-centric approach. They offer a wide range of products, fast and reliable delivery, and excellent customer service. As a result, they have a loyal customer base and a strong brand reputation.

2. Increased Sales

Another advantage of a customer-first strategy is that it can increase sales. When satisfied with a company’s products or services, customers are more likely to make repeat purchases and recommend the company to others.

This then leads to increased revenue and profitability for the company. Research clearly shows that businesses that excel in customer experience grow more than three times faster than those that don’t.

A good example of excellence is Apple. They focus on creating products that are easy to use and meet the needs of their customers. As a result, they have a loyal customer base and have been able to increase sales consistently over time.

3. Improved Brand Reputation

A customer-first strategy can also lead to improved brand image. When a company consistently prioritizes the needs of its customers, it develops the reputation of a customer-focused organization. This can attract new customers, retain existing ones, and draw top talent.

Zappos is a good example of a company that has built its brand around customer service. They offer free shipping and returns, a 365-day return policy, and a dedicated customer service team available 24/7. As a result, they have a strong brand reputation and are known for putting their customers first. Zappos built a loyal customer base and a successful business by prioritising customer satisfaction, which resulted in it being acquired by Amazon in 2009 for $1.2 billion.

4. Better Decision-Making

By placing the customer at the centre of all business decisions, a customer-first strategy can lead to better decision-making. When companies are focused on meeting the needs of their customers, they are more likely to make decisions that align with their customers’ needs and desires. This can lead to better products, more efficient processes, and increased profitability.

Procter & Gamble is well known for focusing on

… Click to continue reading

How Leaders can Successfully Lead a Customer-first Strategy Adoption

Posted on by Denyse Drummond-Dunn

As a leader, you know that customer centricity is critical to the success of your business.

However, it is not enough to pay lip service to this concept; you must make it an integral part of your company’s culture and business strategy.

In this post, we will explore what customer centricity means, why it is essential, and how you, as a leader, can successfully lead a customer-first strategy adoption in your organisation.

 

Defining Customer Centricity

Customer centricity is a business strategy that puts the customer at the heart of everything the company does. It involves understanding the needs and desires of your customers and then tailoring your products and services to meet them.

Customer centricity is not just about providing excellent customer service; it’s about creating a culture of customer obsession that permeates every aspect of the business. This is why it must be a company objective.

 

Why is a Customer-first Strategy Important?

There are several reasons why a customer-first strategy is crucial for the success of your business. First and foremost, it helps you build a loyal customer base.

When customers feel that a company truly understands their needs and is committed to meeting them, they are more likely to become repeat customers and recommend the company to others. This can help you increase revenue and grow your business.

Customer centricity can also help you differentiate yourself from your competitors. In today’s highly competitive business environment, standing out from the crowd can be challenging.

However, suppose you can demonstrate that you are genuinely committed to meeting your customers’ needs. That’s a great way to distinguish yourself from other companies that are just going through the motions.

Finally, customer centricity can help you stay ahead of the curve regarding new product and service development. By constantly seeking customer feedback, you can identify emerging trends and stay ahead of the competition. This can help you develop new offers that meet your customer’s needs today and tomorrow.

 

Leading a Customer-first Strategy in Your Organization

Implementing a customer-first strategy in your organization requires a significant shift in mindset and culture. Here are the steps you can take to make customer-centricity a reality in your business:

 

1. Start with the CEO

As a business leader, you need to lead by example.

Make it clear to your employees that customer centricity is a top priority for the company.

Set measurable goals and hold your team accountable for achieving them.

This sends a strong message to everyone in the organization that customer-centricity is not just a buzzword but a fundamental part of the business strategy.

 

2. Understand Your Customers

To be truly customer-centric, you need to understand your customers deeply.

This means going beyond demographic data and understanding their motivations, pain points, and desires.

Watch and listen to your customers frequently. Conduct customer research, including surveys and focus groups, to gain insights into what your customers want and need.

Collect the information in a customer persona/avatar template. If you don’t have

… Click to continue reading

The Power of Emotional Intelligence in Driving Business Growth

Posted on by Denyse Drummond-Dunn

Emotional Intelligence, or EQ, has emerged as a critical factor in driving business growth by enabling organisations to develop more meaningful customer relationships.

In today’s ever-changing business environment, organisations seek innovative ways to differentiate themselves from their competitors. While many companies focus on improving their products, services, or technology, the key to long-term success lies in understanding and engaging with customers at a deeper level.

This article will explore the importance of EQ in business and provide examples and statistics from countries worldwide to demonstrate its impact.

 

What is Emotional Intelligence?

Emotional Intelligence is the ability to identify, understand, and manage one’s own emotions, as well as the feelings of others. It involves being aware of and controlling one’s feelings, empathising with others, and using this knowledge to guide decision-making and behaviour. Emotional Intelligence has four key components:

  1. Self-awareness: The ability to recognise and understand one’s emotions and how they affect thoughts, behaviour, and relationships.
  2. Self-management: The ability to regulate and manage one’s emotions, thoughts, and behaviour in response to different situations and challenges.
  3. Social awareness: The ability to understand and empathise with the emotions, needs, and perspectives of others.
  4. Relationship management: The ability to use emotional Intelligence to build and maintain positive relationships with others, including effective communication, conflict resolution, and collaboration.

Emotional Intelligence is increasingly recognised as essential in personal and professional success, particularly in leadership roles. Studies have shown that individuals with higher levels of emotional Intelligence are more effective leaders, better able to navigate complex social situations, and more likely to succeed in their personal and professional lives. Developing emotional Intelligence is a lifelong process that can be improved through self-reflection, mindfulness, and practice.

 

The Importance of Emotional Intelligence in Business

There are several reasons why EQ is essential in business:

Improved customer relationships: EQ enables organisations to develop more meaningful connections with customers by understanding their needs, emotions, and motivations.

This helps companies create more personalised and engaging products, services and experiences that drive loyalty and advocacy.

Better employee engagement: EQ also plays a crucial role in fostering a positive work environment where employees feel valued and supported. This leads to higher engagement levels, increased productivity, and reduced turnover.

Happy customer-facing employees will also give a better image of the company and develop more empathy with customers so they feel valued.

More effective leadership: Leaders with high EQ can better communicate, motivate, and inspire their teams. They are also more adept at managing conflicts.

In addition, high EQ is thought to lead to improved innovation by better connecting with customers, their needs and values.

Enhanced decision-making: EQ helps leaders make more informed decisions by considering the emotional impact of their choices. This leads to more balanced and thoughtful judgments that consider the needs of all stakeholders.

 

Examples of EQ in Action

Several companies around the world have successfully leveraged EQ to drive business growth:

Consumer Goods:

Starbucks is known for its customer-centric approach, rooted in emotional Intelligence. The company’s baristas are trained … Click to continue reading

How Your Executive Team Can Ignite Enthusiasm for Your New Company Vision

Posted on by Denyse Drummond-Dunn

Rapid market changes are being witnessed in many industries, forcing many companies to adopt a brand new company vision. Just see how Netflix, Amazon, Google, Facebook and Tesla have reinvented themselves in the past few years.

And we’ve all seen a freshly hired CEO decide on a new or expanded direction for their organisation, in order to make his/her mark quickly.

Of course, some (many?) fail this delicate task, as recently witnessed with Elon Musk for Twitter, but it can be done effectively and painlessly with a bit of thought.

To illustrate how it can be achieved, I will use the example of adopting a customer-first strategy (what else?!) and a 7-step roadmap for the executive team to follow, which will encourage all employees to embrace the new company mission.

 

1. Communicate importance of customer focus

Let’s start with by far the most important point, communication.

The executive leadership team should clearly communicate the importance of putting the customer first and how this approach aligns with the organization’s mission and goals. This should be accomplished through various channels such as company-wide meetings, memos, and emails.

Effective communication is key in getting the entire organization to embrace a customer-first strategy. The executive team should share the reasons why the organization is making this change and how it will benefit both the customers and the company as a whole.

This could include communicating the importance of customer satisfaction, loyalty, and retention, as well as the long-term impact on the business’s reputation and bottom line.

Here are some suggested steps to do this:

  • Schedule a company-wide meeting to announce the adoption of a customer-first strategy.
  • Prepare a clear and concise message explaining why the change is being made and how it aligns with the organization’s mission and goals.
  • Encourage open discussion and answer any questions or concerns employees may have.
  • Follow up with an email or memo that summarizes the main points of the meeting and provides additional information on the customer-first strategy.
  • Continuously measure and communicate the progress and success of the customer-first approach, to keep employees engaged and motivated.

 

2. Lead by example

The C-suite should lead by example and demonstrate the desired behaviors and attitudes towards customers that they want to see in all their employees.

This means actively listening to customer feedback, being responsive to their needs, and treating them with respect and empathy. It also includes responding to customer feedback and addressing their needs.

It’s important for the executive team to be accessible and approachable at all times, and to actively seek out customer feedback and respond to it in a timely manner. This is by far the best way to understand what is going on in the business.

The summary steps are:

  • Train senior management on the principles of a customer-first approach and how they can demonstrate their commitment to this strategy.
  • Make sure leaders are accessible and approachable, and actively seek out customer feedback and respond to it in a timely manner.
  • Encourage everyone
… Click to continue reading

7 Ideas from Great Leaders to Make Your Leadership Style More Effective

Posted on by Denyse Drummond-Dunn

I’d like to start this post with a story about some great leaders. As you know, I published my book Winning Customer Centricity a few years ago. And being the customer centric champion that I am, I wanted to ensure that people could buy it wherever they were and in whatever format they preferred.

This meant offering hardback, paperback and Kindle versions. It also involved recording an audiobook. Now you’re probably thinking, as I myself did going into it, “How difficult is it to read out loud?”

I went for my first day of recording with not much more preparation than getting my book printed off. What a mistake! Luckily we had technical problems and Tony Johnston, who helped me with the project, decided to redo the first part again a week or so later.

That extra time gave me the chance to do two invaluable things. Firstly, to get some coaching from two incredibly talented – and patient! – actors, Pamela Salem and Michael O’Hagan. Secondly, to better prepare myself by reading the book aloud several times, then marking it up with pauses, emphases and other notes, to make the recording more agreeable to the listener.

However, after successfully recording the first half of the book, I again fell back into my usual way of presentation mode on the second day, and Tony generously offered to re-record it. So I went back to my dream team of coaches and did some intensive voice training and exercises. And lucky for me – and Tony – it was third time lucky. You can judge for yourself by listening to a sample on Amazon.

By now, you’re probably thinking “Nice story Denyse, but what does all of this have to do with me and my business?”

It’s a great question; let me answer it by saying “A lot!” Read on, to find my easily applied learnings that will make your leadership style more efficient and effective, no matter what industry you work in. And in addition, by adopting all seven behaviours, you will be portraying a more customer centric style and become a great leader yourself.

 

1. We should never stop learning

As we rise in the corporate world, we seem to forget that we don’t know it all! We sometimes even think that we should have all the answers, or worse still, believe that we do!

I’m often quoted as saying:

“A day without learning is a day without living”

It’s vital that we continuously strive to keep learning and challenging our everyday habits and behaviours. Lifelong learning should be everyone’s mantra.

This has become increasingly important because technical advances are coming almost daily, so we must constantly rethink how we work. We should adapt and integrate those technologies that could improve our business processes.

 

BONUS: #8 Prepare for the Unthinkable

I would encourage all leaders to revise their vision considering these seven points.

But I’d like to add a bonus idea that will truly impact … Click to continue reading

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