Category: Strategy

How Mid-Sized Companies Outsmart Giants: Learning from Tech and CPG Success Stories

Posted on by Denyse Drummond-Dunn

We often assume that industry giants, with their massive budgets and extensive resources, hold all the cards.

However, some of the most remarkable success stories of the past decade prove that mid-sized companies can outsmart these giants.

Having spent years in global leadership roles at Fortune 500 companies, I’ve witnessed firsthand how mid-sized companies can successfully challenge and even overtake industry leaders.

Let’s examine several compelling examples from both technology and consumer packaged goods (CPG) sectors to understand the winning strategies that make this possible.

If you would rather listen than read:

 

The Technology Sector: Speed and Innovation as Weapons

Stripe: Simplifying the Complex
When Patrick and John Collison founded Stripe in 2010, the payment processing industry was dominated by established players like PayPal and traditional banks.

Rather than trying to match their vast resources, Stripe focused on solving a specific pain point: making it incredibly easy for developers to implement payment processing.

As co-founder John Collison noted,

We’re building tools that help ambitious companies scale faster. Our success is tied to their success.

This philosophy drove their key strategies:
– Focused on developer experience when larger competitors were prioritizing enterprise sales
– Created an API that could be implemented in minutes rather than weeks
– Maintained agile product development, launching new features in weeks instead of months
– Built a developer-friendly documentation system that became industry standard

Their results were remarkable:
– Reached $95 billion valuation by 2021
– Processed $640 billion in payments in 2021 (up 60% from 2020)
– Serves 90% of enterprise companies that started since 2011
– Maintains a 98% customer satisfaction rate
– Achieved this with a team 1/10th the size of traditional payment processors and a customer base including Amazon, Google, and Microsoft.

 

Zoom: Winning Through Simplicity
Before the pandemic, Zoom was competing against tech giants Microsoft, Cisco, and Google in video conferencing. Instead of trying to match their feature sets, Zoom focused obsessively on doing one thing exceptionally well.

Their winning approach:
– Prioritized call quality and reliability over feature abundance
– Created an interface so simple that even non-tech-savvy users could master it
– Built their product based on direct user feedback rather than competitor analysis
– Maintained focus on core functionality while competitors tried to be all things to all users

The results were staggering: from 10 million daily meeting participants in 2019 to 300 million in 2020, maintaining significant market share even after the pandemic peak.

 

Shopify: Democratizing E-commerce
While Amazon was building the world’s largest retail infrastructure, Shopify took a different approach to e-commerce. Instead of competing directly, they empowered small and medium-sized businesses to compete in the digital space.

Their strategic choices:
– Created a platform that leveraged existing resources rather than building expensive infrastructure
– Focused on making enterprise-level capabilities accessible to smaller businesses
– Built an ecosystem of developers and partners to extend platform capabilities
– Maintained focus on merchant success rather than direct consumer relationships

Today, Shopify powers over 2 million … Click to continue reading

Breaking The Glass Ceiling: 7 Essential Truths Smart Women (and Men) Need to Know

Posted on by Denyse Drummond-Dunn

After three decades navigating corporate leadership from London’s trading floors to Swiss boardrooms, I’ve discovered why breaking the glass ceiling isn’t enough for smart women (or men)!

If you prefer to listen rather than read:

The Numbers Tell Only Half the Story

Recent statistics show 10.4% of Fortune 500 CEOs are now women – a record high in 2024.

McKinsey reports that for every 100 men promoted from entry-level to manager, only 87 women make the same climb. By senior management, the ratio drops to 82 women for every 100 men. At the C-suite level? Just 74 women!

And although female workers typically outperform their male counterparts, men are more likely to get promoted, research by Kelly Shue, a professor of finance at Yale School of Management shows.

All these numbers reveal a pattern, but they hide a more profound truth.

Through my journey working across more than 125 countries and multiple industries, I’ve uncovered seven essential truths that every smart woman (and man!) needs to know about getting to the power at the top.

I’ll be sharing them in a Masterclass this coming Sunday; sign up to learn more.

sign up

 

1. Visibility Is a Double-Edged Sword

When one of my bosses stuttered and physically trembled during our meetings together, it wasn’t weakness – it was fear. And I was lucky enough to recognise this and adapt my behaviour.

Korn Ferry research shows that senior management, including CEOs (71%) and other senior executives (65%) are more likely than early-stage professionals (33%) to exhibit signs of imposter syndrome.

However, what’s rarely discussed is how this manifests as aggression toward rising women leaders, as my experience clearly showed.

The Harvard Business Review found that women leaders are 1.4 times more likely to be dismissed for mistakes and twice as likely to be criticised for their communication style.

Yet paradoxically, being invisible isn’t the answer either.

Strategic visibility requires understanding the delicate balance between presence and power.

Dr. Kizzmekia Corbett, the lead scientist behind the Moderna COVID-19 vaccine, navigated intense scrutiny and bias in the STEM field. Her strategic visibility and unwavering expertise not only advanced her career but also made significant scientific contributions that saved lives.

Key Takeaway: Strategically increase your visibility by volunteering for high-impact projects that align with your strengths and career goals.

 

2. Power Fears What It Can’t Control

In another position, my assistant was encouraged to spy on me and report my actions back to my boss.

When she confessed it to me, but only because the promised promotion didn’t happen, conventional wisdom suggests that I should try to rebuild trust.

Instead, I chose to professionally distance myself. We continued to collaborate but from then onwards, I only shared necessary information with her.

According to the Workplace Institute, 45% of damaged workplace relationships never recover, and attempting forced reconciliation often decreases productivity by 32%.

Modern power dynamics research shows:

  • 67% of women leaders face covert surveillance
  • 58% experience subtle undermining from peers
  • 73% report indirect challenges
… Click to continue reading

How Influencer Marketing is Redefining Consumer Engagement and Market Success

Posted on by Denyse Drummond-Dunn

The consumer packaged goods (CPG) industry is undergoing another profound transformation, driven by the rise of brands expanding their influencer marketing.

These ventures, spearheaded by social media personalities, redefine how products are launched, marketed, and consumed.

By leveraging authenticity, pre-built audiences, and direct engagement, influencers are disrupting traditional brands and creating entirely new market dynamics.

If you prefer to listen rather than read:

The Power of Influencer-Led Brands

Influencers have built careers on relatability, trust, and engagement with their audiences. This unique connection translates seamlessly into the consumer marketplace.

When Logan Paul and KSI launched Prime Hydration in 2022, their built-in fan base helped propel the brand to $1.2 billion in sales within just one year. This staggering success highlights how influencers can skip the slow burn of traditional brand-building and go straight to market dominance.

Similarly, Emma Chamberlain’s Chamberlain Coffee leverages her personal brand as a coffee enthusiast. By aligning her product with her authentic interests, she not only attracts her YouTube followers but also a wider audience of coffee lovers. The brand recently secured $7 million in funding to expand its reach, showing that authenticity paired with strategic growth can be a winning formula.

Another standout example is MrBeast’s Feastables. Known for his elaborate and charitable YouTube stunts, MrBeast created a snack brand that mirrors his fun and engaging online persona. Within a few months of launch, Feastables generated $10 million in sales. MrBeast’s willingness to involve his audience in the brand’s journey, such as soliciting feedback on packaging and flavors, has solidified the brand’s appeal.

Even in the personal care space, influencer-led brands are making waves. Jake Paul’s W body care brand raised $11 million in Series A funding in mid-2024, signaling that influencer-led ventures are not limited to snacks and beverages. W’s young, male audience is drawn not just to the product but to the personality behind it, showcasing how effective these ventures can be at capturing niche markets.

 

Authenticity as a Key Differentiator

Authenticity is the cornerstone of influencer-led brands.

Consumers increasingly seek transparency and connection, valuing brands that reflect their own values.

For example, MrBeast’s Feastables infuses the influencer’s playful yet philanthropic ethos. Feastables earned $10 million in chocolate bar sales within its first few months by resonating deeply with MrBeast’s audience.

Established CPG brands can learn from this. Dove’s Real Beauty campaign is a standout example of how a traditional brand can also build authenticity. By shifting the focus from products to shared values, Dove has sustained consumer trust for over a decade, demonstrating that even large brands can adapt this influencer-driven strategy.

Another great example is Nike. By consistently aligning its campaigns with cultural and societal values, Nike has managed to remain relevant across generations. Its collaboration with Colin Kaepernick, despite being polarizing, resulted in a 31% spike in online sales and reinforced its position as a brand that stands for something bigger than its products.

The rise of influencer-led brands also highlights the importance of storytelling. Consumers are drawn … Click to continue reading

Insight, Innovation and Inclusive Leadership: The New Business Success Formula

Posted on by Denyse Drummond-dunn

Organisations are facing unprecedented challenges in remaining competitive and maintaining business success in 2025.

The three fundamental pillars of sustained success are deep customer insights, meaningful innovation, and inclusive leadership.

Let’s explore why this powerful trinity is more relevant than ever in 2025 and how you can leverage it to grow your business.

Prefer to listen to the podcast? Click below.

Why These Three Pillars Matter Now More Than Ever

The numbers tell a compelling story.

McKinsey’s latest research reveals that companies effectively combining these three elements outperform their peers by an astounding 85% in sales growth and more than 25% in gross margin. But what makes this combination so powerful?

 

Deep Customer Insights Power Business Success

Insight is the cornerstone of every successful strategy.

The key difference between successful and struggling companies? Top performers turn data into actionable intelligence that drives decision-making at all levels.

McKinsey reports that companies using customer insights for decision-making are 60% more likely to achieve above-market growth rates!

The true value of insights comes when they bridge the gap between raw data and real-world application, allowing businesses to anticipate consumer needs, optimize operations, and refine strategies.

Gone are the days when gut feelings drove business decisions. Modern market leaders demonstrate the transformative power of customer insights:

– One standout example is Spotify’s “Wrapped” campaign. In 2023, Spotify used not just user listening data but an understanding of the emotional drivers behind their customers’ listening habits—self-reflection and social sharing. By tapping into this human desire, Spotify’s campaign led to over 30 billion streams, showcasing the power of customer insights in driving engagement and brand loyalty.

– Nike’s adaptive clothing line, developed through extensive consultation with disabled athletes, opened entirely new market segments

– P&G’s open innovation platform has revolutionized their product development process by incorporating external perspectives

But it’s not just consumer-facing data that drives success.

Internal business insights—such as employee feedback, operational inefficiencies, and market trends—are equally crucial.

Companies that develop a culture of continuous insight-gathering and sharing can make smarter, more informed decisions at all levels.

Does your Insight Development Process need an upgrade? Click below and check out our two-hour online masterclass for marketers and market researchers.

Learn more about your Business Makeover

Innovation: The Competitive Edge Amplifier of Business Success

Recent PwC research shows that 61% of CEOs view innovation as their top priority for achieving long-term growth.

But here’s what’s fascinating: successful innovation in 2025 looks vastly different from what we’ve seen before.

Innovation is not just about creating groundbreaking products or services; it’s about creating solutions that drive long-term value.

BCG’s latest report revealed that top innovators share three core practices:

  • Maintaining investment in innovation even during downturns
  • Leveraging advanced technologies like AI to drive innovation
  • Aligning innovation with sustainability goals alongside profitability

Microsoft offers a powerful example of how innovation can drive meaningful change. Instead of treating AI as a standalone technology, Microsoft integrated AI tools into their product suite to enhance real user productivity.

The result? A 40% increase in … Click to continue reading

Transforming Your Competitive Advantage with Radical Consumer Centricity

Posted on by Denyse Drummond-Dunn

Many brands today claim to be consumer-first or consumer-led.

However, their attempts often fall short of expectations, resulting in actions that lack the authenticity and depth consumers seek. Radical Consumer Centricity changes that.

This approach involves embedding consumer insights into every part of a company, driving long-term success by anticipating and meeting consumer needs precisely. It’s a transformational shift essential to gaining a lasting competitive edge in today’s market.

In this article, we’ll explore why Radical Consumer Centricity matters, how leading companies achieve a consumer-led structure, and why adaptable frameworks, such as C3Centricity’s QC2™ process, are crucial to effectively guiding this journey.

If you prefer to listen rather than read:

 

 

Why Radical Consumer Centricity Matters

As consumers become more informed, connected, and demanding, consumer-first approaches that lack depth lose their appeal. People expect brands not just to fulfill their immediate needs, but to understand, anticipate, and address their evolving desires.

A recent study by McKinsey found that 87% of companies leveraging advanced customer analytics outperform their competitors in customer retention and engagement (McKinsey).

Companies that use consumer insights to stay ahead aren’t merely reacting—they’re building deeper relationships that foster loyalty and keep consumers coming back.

Shifting to Radical Consumer Centricity allows brands to make decisions rooted in authentic consumer insights, paving the way for sustainable loyalty. By deeply understanding consumers and tailoring strategies to meet emerging needs, brands can align more closely with what matters most to their audience.

This approach requires an all-in commitment, from leadership buy-in to cross-functional collaboration. Consumer-led organizations consistently outperform in terms of agility and profitability, with consumer-centric companies proving to be 60% more profitable than those that are not (Bain).

 

Becoming Consumer-Led, Not Just Consumer-First

Achieving Radical Consumer Centricity means moving from consumer-first to consumer-led—a shift that puts consumer insights at the core of every strategic choice.

It’s about allowing the voice of the consumer to influence every area of the organization, from product design to marketing, support, and even company culture.

For companies that fully commit, the payoff is considerable: increased loyalty, faster market adaptation, and a stronger connection with Consumers.

A leading example of this approach is Monzo, a digital-first bank based in the UK. Monzo’s commitment to customer-led innovation sets it apart in a competitive landscape. Monzo doesn’t just listen to customer feedback; it actively engages users in co-creating the bank’s services.

By gathering and responding to feedback on features, policies, and services, Monzo has developed innovations like “Split the Bill” and “Savings Pots” based directly on user requests.

This collaborative approach has turned Monzo into one of the UK’s most recommended banks, with over 80% of users willing to refer Monzo to friends (Monzo Investor Relations).

Monzo’s example shows how brands that embrace Radical Consumer Centricity become indispensable to their consumers’ lives.

By letting their customers shape the brand, Monzo has created a model where users feel they have a stake in its growth.

When consumers … Click to continue reading

The Ultimate Leadership Guide to Creating a Winning Consumer-First Culture

Posted on by Denyse Drummond-Dunn

Claiming to be “consumer-centric” is simple; executing it effectively requires a fundamental shift in leadership and company culture.

Many leaders believe they prioritise consumers, yet their strategies often miss the mark due to a lack of meaningful integration.

Building a genuinely consumer-first culture means driving every decision, process, and strategy with the consumer’s needs and values at the forefront.

This guide equips leaders with the insights and actionable strategies to foster a winning consumer-first culture. Rather than relying on superficial gestures, leaders can inspire a transformation that elevates the organisation, engages employees, and creates powerful, lasting consumer relationships.

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

1. Define Consumer-Centricity from the Top Down

A leader must set a clear and aligned definition of consumer-centricity. Many companies define consumer centricity as “putting the consumer at the centre,” yet this often stays as a slogan without actionable meaning. To ensure alignment across the organisation, start by answering these essential questions:

  • What does “consumer-first” mean to us as an organisation?
  • How do our consumers define a positive experience, and how does that align with our approach?

Encouraging leaders to establish and communicate this definition creates a foundation for a company-wide culture that actively listens and adapts to consumer feedback.

One of the best ways to do this is to adapt their vision and mission statements to specifically mention the consumer and how the company benefits them by providing solutions to their wants and needs.

Read more about how to adapt your own company’s mission in “The Essential Customer-Centric Mission Statement for Achieving Success.”

Leadership Example: Lego’s CEO exemplifies consumer-centric leadership by implementing programs like Lego Ideas, where consumers can directly contribute to product ideas. Lego sustains relevance and loyalty by embedding consumer voices into its product strategy, proving how consumer-centric thinking can drive long-term success. Source: Forbes.

2. Build Trust through Leadership Integrity and Transparency

In a world where consumers have endless choices, trust is invaluable. For leaders, this means instilling transparency and accountability at every level. Research from Edelman’s 2023 Trust Barometer shows that 88% of consumers expect businesses to lead with integrity, especially during uncertain times. Source: Edelman.

Leaders can build trust by:

  • Demonstrating honesty and follow-through in consumer communications.
  • Publicly stating and reinforcing company values.
  • Ensuring transparent practices, especially in data privacy and product claims.

Leadership Insight: Patagonia’s leadership has consistently been transparent, especially regarding its environmental impact. By acknowledging areas for improvement and committing to sustainability, Patagonia has built one of the most trusted brands globally. Source: Harvard Business Review.

3. Champion Personalized Experiences through Strategic Data Use

Today’s consumers want more than blanket personalisation; they seek experiences that resonate with their unique needs. Leaders can set the tone for truly consumer-first personalisation by emphasising a data-driven approach that moves beyond mere marketing to holistic, meaningful interactions.

Leadership Action: Starbucks’ CEO has driven personalisation efforts through the Starbucks … Click to continue reading

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

7 Lessons on Customer Experience Excellence: Insights from a Personal Journey

Posted on by Denyse Drummond-Dunn

Inspiration for Customer Experience (CX) excellence can come from the most unexpected places. As business leaders, we know that keeping an open mind and learning from every occurrence is crucial to improving our own practices.

Recently, I had an eye-opening experience that reinforced this lesson in a way I hadn’t anticipated.

After the holiday season, I found myself grappling with severe lower back pain, which escalated into a medical ordeal that spanned hospital stays, emergency surgeries, and a lengthy recovery.

While the pain was, without a doubt, overwhelming, it provided me with a unique opportunity to observe the healthcare system from the patient’s perspective—a perspective that offers valuable lessons for any business striving for customer experience excellence.

As CEOs and business owners, the insights I gleaned from this experience are not only relevant but essential. Let me share with you seven key lessons I learned during my hospital stay and how they can be applied to your business, especially when it comes to enhancing customer experience.

If you prefer to listen rather than read:

 

 

1. Introduce Yourself with Purpose

Every time a new nurse or doctor entered my hospital room, they introduced themselves and clearly stated their role in my care. This seemingly simple act built trust, creating a personal connection in an otherwise impersonal setting.

Business Application: In business, introductions shouldn’t be limited to names. Every team member should articulate their role and purpose in any customer interaction. This not only sets the stage for effective communication but also helps customers feel at ease.

Whether it’s a new client meeting, a sales call, or a routine service check-in, ensuring that your team introduces themselves with clarity and purpose can set the tone for a positive interaction. This small step can prevent unnecessary confusion and ensure that everyone involved knows their role in delivering value to the customer.

 

2. Acknowledge That You Know Me

Despite seeing different medical professionals throughout my stay, I never felt like I had to start over with my story. Each practitioner knew who I was and understood my situation. This continuity reassured me that my needs were understood and being managed properly.

Business Application: How often do customers feel like they have to start over when they interact with your business? Companies that invest in personalized experiences—whether through CRM systems, detailed customer records, or simply attentive staff—demonstrate a commitment to their customers’ needs.

According to Salesforce’s 2023 “State of the Connected Customer” report, 88% of customers expect companies to accelerate digital initiatives and personalization efforts. Every touchpoint in the customer journey must be informed by past interactions. When your customers feel known and valued, you’re far more likely to foster loyalty and trust.

 

3. Prioritize Comfort and Satisfaction

Each medical visit began with a simple question: “Are you comfortable?” It was an open invitation to share how I was feeling, which in turn helped the staff respond to my needs more … Click to continue reading

10 Key Questions CPG Leaders Should Ask About Customer-First Strategies for Expanded Loyalty

Posted on by Denyse Drummond-Dunn

CPG leaders (Consumer Goods Companies) understand that delivering exceptional consumer experiences is crucial for distinguishing their brands.

A customer-first strategy has emerged as a pivotal approach to business success in every industry, prioritizing customers’ needs, preferences, satisfaction and delight across all facets of an organisation.

This strategy is particularly vital for CPG companies given the direct impact on consumer choices and brand loyalty. It encompasses a comprehensive understanding of consumer behaviour and leverages advanced technologies like AI and data analytics to create personalized and seamless experiences from product development to point of sale and beyond.

For CEOs and business owners in the CPG sector, implementing a customer-first approach enhances customer loyalty and retention and drives profitability and long-term success in a rapidly evolving market.

Here are the ten most important questions that CPG leaders should ask when adopting a consumer-first strategy and culture in their organization.

If you prefer to listen rather than read: 

1. What Does a Consumer-first Strategy Entail in the CPG Industry?

A customer-first strategy in CPG involves prioritizing consumer needs and experiences across all business operations, from product development to marketing and customer service. This approach requires CPG businesses to:

– Integrate consumer feedback into their product innovation processes
– Develop products that meet and ideally surpass consumer expectations for quality, convenience, and sustainability
– Provide exceptional consumer service across all touchpoints, including retail partners and e-commerce platforms

Companies like Honeywell and Medline Industries emphasize transparency and honesty, even when delivering uncomfortable truths, to build trust with their customers​ (Zendesk)​​ (Graph Digital).

According to a study by Zendesk, 90% of companies collect customer feedback, but only 10% act on it, and just 5% communicate back to their customers about the changes they made based on their feedback. This highlights a significant gap that customer-first strategies aim to fill by fostering transparency and building trust.

Procter & Gamble’s (P&G) “Consumer is Boss” philosophy exemplifies a customer-first strategy. P&G regularly conducts in-home visits and observational research to understand consumer needs deeply. This led to innovations like Tide Pods, which addressed the consumer desire for convenient, pre-measured laundry detergent.

According to a study by IRI and Boston Consulting Group, CPG companies that excel in consumer-centric practices grow their revenue 2.5 times faster than industry peers.

 

2. How Can We Understand Our CPG Customers Better?

Understanding CPG consumers requires leveraging data analytics and AI technologies to gain insights into their behaviours, preferences, and needs. This is particularly crucial in an industry where consumer trends can shift rapidly.

– Use advanced analytics to interpret point-of-sale data, social media sentiment, and e-commerce behaviours
– Implement AI-driven personalisation in marketing and product recommendations
– Conduct regular consumer panels and focus groups to gather qualitative insights

A McKinsey report found that companies using data-driven personalisation see 5-8 times the return on their investment (ROI) and can lift sales by 10% or more.

In addition, 71% of consumers today expect … Click to continue reading

7 Proven Customer-Centric Strategies Smart CEOs Use to Drive Growth

Posted on by Denyse Drummond-Dunn

Have you made changes to drive your business growth using customer-centric strategies that are based on current trends?

Don’t know which ones are most relevant?

Then read on for a description of each and ideas on actions you can take to reap significant benefits in your growth and profitability.

 

Introduction

The landscape of customer-centricity continues to evolve rapidly as we move into the second half of 2024. Changes are being driven by technology, changing consumer expectations, and global dynamics.

Companies that fail to keep pace with these shifts risk falling behind, while those that embrace customer-centric strategies based on the latest 2024 trends will thrive.

In this article, we’ll explore the latest tendencies shaping customer-centricity, provide examples of how forward-thinking companies are leading the way, and include relevant statistics that illustrate the importance of these trends.

If you prefer to listen rather than read:

The Key Trends Impacting Customer-centric Strategies in 2024

Let’s start by reviewing the leading trends we have seen in the first half of this year. Are you aware of them all? And more importantly, have you made changes to benefit from some if not all of them?

 

1. Enhanced Focus on Customer-Centricity

Customer-centricity, once a differentiator, is now an expectation! In 2024, more companies have focused on customer-centricity as their core business strategy. This goes beyond lip service and involves deep integration of customer feedback, behaviours, and pain points into product development, marketing, and service delivery. Are you walking the talk?

A recent study by PwC found that 73% of consumers point to customer experience as an important factor in their purchasing decisions. Still, only 49% of U.S. consumers say companies provide a good experience. This disparity presents a significant opportunity for businesses that can truly place customers at the heart of everything they do.

Companies such as Allbirds, a sustainable shoe company, exemplify this focus by consistently involving their customers in product development through feedback loops, surveys, and data analytics. As a result, Allbirds has grown exponentially by delivering products that align with customer desires for both comfort and sustainability.

Patagonia is another company that excels in customer-centricity. Known for its environmental activism and durable products, Patagonia directly aligns its business operations with customer values.

A standout example of this is their “Worn Wear” program, which encourages customers to buy used Patagonia gear, repair their products, or trade in old items for store credit. This program not only addresses customer pain points related to sustainability but also strengthens loyalty.

According to a 2021 survey, 87% of Patagonia customers expressed increased loyalty due to the company’s ethical practices and customer-first initiatives.

As businesses increasingly adopt customer-centric strategies, expect to see more companies integrating customer feedback into every aspect of their operations.

 

2. Integration of Artificial Intelligence (AI)

Artificial intelligence is no longer a novelty; it’s a necessity for delivering hyper-personalized customer experiences.

In 2024, AI is already playing an ever-increasing role in predictive

… Click to continue reading

Surprising Solutions to the 9 Business Challenges of a Customer-First Strategy

Posted on by Denyse Drummond-Dunn

Adopting a customer-first strategy is more than just an option these days. But did you know that, perhaps surprisingly, it can answer most business challenges? And it is, therefore, essential for the survival and growth of every single business.

Yet, I know this paradigm shift can present formidable challenges that many organisations struggle to overcome.

In 2023, I wrote a popular post covering the ten most common challenges businesses face when starting their journey to customer-centricity. It is called “Top 10 Challenges Facing Companies When They Adopt a Customer-First Strategy.”

However, a lot has changed in the past year, so I decided to update my suggested solutions to the latest obstacles businesses face when pivoting to a customer-centric approach.

As before, I provide supporting data and some inspiring case studies to get you going.

If I haven’t covered your challenges here or in the previous article, feel free to comment.

From reshaping ingrained company cultures to harnessing the power of big data, I’ll explore how industry leaders like Toyota, Salesforce, Target and Netflix have successfully navigated these challenges.

Whether you’re a startup looking to disrupt or an established enterprise aiming to evolve, this article will equip you with the knowledge and tools to transform challenges into opportunities.

Let’s take a look at nine key hurdles I have noted in working with my clients, and discover how to solve them, ensuring your business stays ahead in the race for customer loyalty and sustainable growth.

If you prefer to listen rather than read:

 

1. The Biggest Business Challenge – Revolutionising Company Culture

The transition from a product-centric to a customer-centric culture demands a complete overhaul of organizational mindset. This seismic shift often faces resistance from employees deeply rooted in traditional practices, who may struggle to see the immediate benefits of a customer-first approach. Companies grapple with ingrained behaviours, leadership communication gaps, and inadequate training programs.

Solution: The key lies in unwavering leadership commitment and consistent, clear communication. Take Zappos, for example – they’ve woven customer service into the very fabric of their core values, reinforcing this through ongoing training and aligning it with customer success metrics.

To facilitate this cultural metamorphosis:

  • Implement regular workshops that highlight the tangible benefits of customer-centricity
  • Develop a comprehensive internal communication strategy
  • Create a reward system that recognizes and celebrates customer-focused behaviours

The payoff is substantial: companies prioritizing customer experience see up to 1.7 times higher customer retention and 1.9 times higher average order value. This isn’t just a change in strategy; it’s a revolution in how business is done.

If you’d like to know the most effective way to overcome resistance to change in your company culture, please book some time for us to discuss your needs and identify three actions you can immediately take; click the link below.

LEARN MORE

2. Mastering the Art of Customer Data Analytics

In the age of big data, businesses are drowning in information but thirsting

… Click to continue reading

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