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

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

Top 10 Challenges Facing Companies When They Adopt a Customer-First Strategy

In an era where customer expectations are rapidly evolving, businesses have finally recognised the importance of adopting a customer-first strategy.

However, despite this awareness, many companies still struggle to fully embrace customer-centric practices. Numerous barriers can hinder the journey toward customer-centricity, impacting both customer satisfaction and long-term business success. In this article, I propose ten reasons that often prevent companies from becoming more customer-centric and offer suggestions on how organisations can overcome these challenges.

 

Introduction

We all know that customers exert unprecedented influence today and that business success hinges on one core principle: customer-centricity. The shift from product-centric models to customer-focused strategies has become not just a preference but a clear necessity for every company aiming to thrive in today’s dynamic market landscape. Yet, despite acknowledging its significance, many organisations still struggle to genuinely embrace customer centricity.

The journey towards adopting a customer-first strategy is not merely about altering a few processes; it’s a transformative endeavour that necessitates rethinking organisational culture, strategies, and operations. These are all covered in detail in my book Winning Customer Centricity: Putting Customers at the Heart of Your Business – One Day at a Time. (Click the link to learn more and get a free download.)

For now, I want to share some ideas on how these challenges manifest, why they persist, and, most importantly, how visionary leaders can lead their organisations to conquer these roadblocks and establish a new paradigm that places customers at the forefront of everything they do.

 

The 10 Challenges of a Customer-First Strategy

As the market continues to evolve and customer expectations soar to new heights, the need for customer-centricity becomes a strategic imperative and a distinguishing factor that separates industry leaders from followers. Here are ten keys to unlocking the full potential of a customer-first strategy.

1. Lack of Customer-Centric Leadership: Without solid support from upper management or executives, initiatives to become more customer-centric might not receive the necessary resources, attention, or priority to succeed.

When executives don’t prioritise customer satisfaction or fail to embody customer-centric values, they send a clear message throughout the organisation that customer-centricity isn’t a core focus for the business. Leadership buy-in is essential for creating a culture that places the customer at the heart of decision-making.

Actions: Host workshops or training sessions for leaders to emphasise the strategic importance of customer-centricity. Share success stories highlighting the positive impact of customer-centric practices on business outcomes. Encourage leaders to actively participate in customer feedback sessions to demonstrate their commitment.

2. Silos and Departmentalism: Departmental silos can be formidable barriers to customer-centricity in larger organisations.

In most companies, departments operate autonomously, focusing on their own goals and metrics without considering the broader customer experience. These siloed departments lead to disconnected efforts and inefficiencies, as well as confusing customer experiences and a fragmented customer journey.

To tackle this, companies should encourage interdepartmental communication, establish cross-functional teams, and align goals to ensure a seamless and consistent customer experience.

Actions: Establish cross-functional teams or task forces with representatives … Click to continue reading

The Customer Retention Goldmine: How to Keep Customers Happy and Drive Exponential Growth

Customer retention is essential for the long-term success of any business. 

We all know that happy customers are more likely to make repeat purchases, provide positive reviews, and refer others to your business. But how do you keep customers happy?

Here are some of the best strategies to retain your customers. Check them out and apply any you are not currently actioning, to enjoy improved growth for your business:

 

1. Provide Excellent Customer Service: This is the starting point if you want to keep your customers happy. Offer fast, helpful, and personalized support whenever they need it.

Respond to inquiries and complaints quickly and resolve issues to the best of your ability.

In fact, go beyond just satisfying them, and find ways to surprise and delight them with a little added and unexpected attention. (more on that later)

  • Customer service is a critical aspect of retaining customers. According to HubSpot research, 93% of customers are likely to make repeat purchases from companies that offer excellent customer service.
  • On the other hand, 33% of customers would consider switching after just one instance of poor service according to American Express.
  • Responding to customer inquiries within an hour can increase customer retention rates by up to 56% (Harvard Business Review).
  • Nearly half of all customers (46%) expect companies to respond to their emails within 4 hours, while 12% expect a response within 15 minutes or less.
  • However, 90% of customers view an instant response as either crucial or very important when they need customer service assistance. Of these, 60% consider instant to mean within 10 minutes or faster.

 

2. Build Strong Relationships: Engage with your customers on social media, through email newsletters, or other communication channels. Show appreciation for their business and make them feel valued. Businesses that build strong customer relationships are likely to see increased loyalty and repeat business.

  • According to a study by Bain & Company, increasing customer retention rates by 5% can lead to a 25% to 95% increase in profits.

 

3. Consistent Communication: Keep your customers informed about new products, promotions, and updates. Regularly engage with them to maintain their interest. Find ways to keep them involved with your brand even when they are not consuming/using it.

  • Consistent communication helps to keep customers engaged and informed about your products and promotions. Brands that communicate with customers regularly witness a higher retention rate compared to those that do not (SuperOffice).

 

4. Quality Products and Services: Deliver high-quality products and services that meet or exceed customer expectations. Satisfied customers are more likely to return.

  • High-quality products and services contribute significantly to customer satisfaction. A study by the Customer Contact Council found that customers who had the best past experiences spend 140% more than those with poor experiences.

 

5. Loyalty Programs: Implement a loyalty program that rewards customers for repeat purchases. Offer discounts, exclusive offers, or points that can be redeemed for future discounts or free items.

  • Loyalty programs can boost customer retention. According to a
Click to continue reading

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

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

The 7 Keys to Word-of-Mouth Marketing

Ever wonder how to get more people talking about your business? It’s simple.

Offer them incredible products and services that solve their problems and fulfil their needs and desires. Then when you have converted them into customers, continue to keep them satisfied and give them something to talk about by surprising them too.

Sounds easy, doesn’t it? But as you know it’s not. I realise that only too well in my own service offerings. Which is why I decided to write this article about the 7 key elements that will get people talking about us!

Every strategy comes with its own set of rules, and the same is true for word-of-mouth marketing (WOMM). Yes, this means that you can actually create a strategy to generate positive word-of-mouth for your business. In fact, this has become an essential part of marketing as people have started to lose trust in the reviews they read online – more on that later. Friends, family and trusted advisors are those they turn to for a valued opinion these days.

[bctt tweet=”Ever wonder how to get more people talking about your business? It’s simple. Offer them incredible products and services that solve their problems and fulfil their needs and desires. #Brand #Marketing #WOMM” username=”Denysech”]

But first: why does Word-of-Mouth matter?

To start with, it is important to understand what cognitive dissonance is. According to Wikipedia’s definition, it occurs when

“a person holds two or more contradictory beliefs, ideas, or values; or participates in an action that goes against one of these three, and experiences psychological stress because of that. Coping with the nuances of contradictory ideas or experiences is mentally stressful. It requires energy and effort to sit with those seemingly opposite things that all seem true.”

In other words, people are always searching for ways to reduce their stress that is caused by cognitive dissonance when shopping and selecting brands. One of the ways they do this is by searching for confirmation that they have made the right choices. Receiving positive word-of-mouth opinions of products and services from friends or family members will reduce the dissonance, as it confirms people’s beliefs in what they have purchased.

Given that consumers need input to reduce the risks they take, especially when purchasing a brand for the first time, it is marketing’s job to provide a maximum amount of information to build trust. Whether this is through advertising or online customer reviews, it is important to show both transparency and popularity to enhance confidence.

[bctt tweet=”Given that consumers need input to reduce the risks they take, especially when purchasing a brand for the first time, it is marketing’s job to provide a maximum amount of information to build trust. #WOMM #Brand #Marketing” username=”Denysech”]

This has become a challenge in recent years as a result of the exposure of significant fake reviews on many websites, including Amazon. There are now even services to highlight these paid or fake reviews, such as fakespot.com and reviewmeta.com. If you are interested … Click to continue reading

Beat the Competition Next Year (Higher growth, profitability, innovation)

After the mid-year break – and this year it started way sooner thanks to covid-19 – most organisations get into their planning phase for the coming year in earnest. Do you know how you’re going to beat the competition next year? If not, then this article will set out some clear priorities.

Although business plans are usually developed and approved in the middle of the year before the vacation period starts, it is only afterward the seasonal break that the real work begins. So what have you promised your top management? Faster growth, increased profitability, or more successful innovations?

Whatever is in your plans, now is the time to review them and decide the very best strategies and tactics for meeting them. Let’s take a look at each of these objectives and see how best to meet them.

 

Higher Growth

As you know, there are basically only three ways to grow your sales:

  1. Get more people to buy
  2. Get people to buy more
  3. Get people to buy more frequently

What you may never have noticed before when reviewing these options, is that all three approaches include the word “people.” And it is only by understanding them better than you do today, that you will be able to grow your business tomorrow.

So, how well do you know your current and potential customers? Do you know what they think about your current offer? Do you understand their needs, desires and dreams? Do you recognise what they really want but can’t even themselves articulate? Uncovering these are what will give you a clear competitive advantage.

Of the three strategies, the first seems to be the one that most organisations immediately think about when looking to grow their business. They go out looking for new customers by increasing their distribution channels in the hope of getting more people to buy. But that costs a lot of money, doesn’t it?

[bctt tweet=”Most organisations try to get more purchasers to grow their #business. Be different! #sales” username=”Denysech”]

CPG (consumer packaged goods) companies on the other hand, frequently encourage their customers to buy more through promotions and discounts. This too takes a large portion of their budget.

However, it is now well documented that it is easier to increase sales amongst your current customers than it is to go out and attract new customers to buy.

A 2015 study by  Price Intelligently showed that a 1% increase in customer acquisition impacts your bottom line by around 3.3%. But improving your retention rate by 1% affects your bottom line by around 7%. In other words, it is twice as profitable to retain a customer than to acquire a new one.

“It is twice as profitable to retain a customer than to acquire a new one.”

Even if you replace every customer who leaves by a new customer who buys, you end up with the same number of customers—but lower margins–because it costs far more to gain a new customer than to keep the one … Click to continue reading

The Great Trends Hoax: They don’t give a Business a Competitive Advantage

Do you follow trends? I bet you do! Everyone likes talking about the future, imagining what it might hold and then taking pride in seeing that they were “right”, that what they had “predicted” has come true. If this is how you work with trends, then you must read this post – urgently!

There are many trend providers today, from futurologists, to trend agencies, to gurus, all claiming to have “the truth”. An ex-colleague of mine made an interesting comment to me last weekend, as we hiked up to the top of La Dole, one of the small hills in the Lac Leman area of Switzerland where I live.

We were discussing trend following and she was comparing the providers with which her company had worked in the last five or ten years. Which of them “had got it right” and which ones hadn’t. I said that I wasn’t too keen on businesses working with trends alone, as there was no competitive advantage in doing so. She then made a wonderful comment: “You’re right of course. In fact when you go to these meetings to hear about the latest trends each year, you are sitting with a group of 20, 50, 100 or often even more people, all hearing the same presentations and “predictions”. If you all go back and start working on actions to respond to the future that was just presented, you’re all doing the same things and are in a way actually making the predictions come true”.

As I said, I have never really liked working with trends other than for developing plausible future scenarios, but she had put one of my concerns into words; you don’t gain competitive advantage from following trends. Whilst they may at best provide indications of some tactical actions you might take in the short-term, trends cannot help you develop your vision and strategy.

So if you want to achieve the real advantage of following trends and to get a head-start over your competition, then it’s time you started developing your own future scenarios. How? Well, here’s a 10-step approach that I have found has worked with many of my clients, which assumes that you are already following trends of some description:

10-Step Process

  1. Identify the most relevant trends for your category from all those that you are currently following. This evaluation is often best handled by your market research and insight group, who have access to a lot of information, both internal and external, and not just on trends. If this is a new area for you all, you may decide to seek some external support to help you make these first difficult choices.
  2. Invite a group of about 10-15 people from various departments within the organisation and who have ideas about what will happen in their different areas of the business, to join your “Futures” team. I have found that when invited, few refuse and in fact more ask to join the group when they hear about it, than
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