Tag: customer centric

5 Key Trends to Business Success in 2024 using a Customer-First Strategy

Posted on by Denyse Drummond-Dunn

As we debut the second half of the year, the ever-evolving landscape of customer experience (CX) is making business success even more challenging than usual.

Are you finding this too? If so, then I have some ideas to help.

We already know that businesses that embrace a customer-first strategy successfully lead their markets by driving growth from increased loyalty. To continue benefiting from this customer-centric approach, it is important to understand what has changed in 2024 and how companies should react to their customers’ ever-changing demands.

 

Business Success in 2024: The Key Trends

Here are the key trends of 2024 and some questions you may already be asking yourself about them. If not, then perhaps you should.

As always, I share my ideas and examples to help you make any changes you decide are needed.

 

AI-Driven Personalization:

What is it? AI-driven personalization leverages artificial intelligence and machine learning to analyze vast customer data and deliver highly customized experiences.

It is important because it enables businesses to anticipate customer needs and offer tailored recommendations, enhancing the customer experience and driving business success.

Example: eBay’s new magical listing tool uses artificial intelligence to extrapolate details about listings from images. As a result, sellers can list items easily, and buyers can access more information about potential purchases. (Source)

 

Data Privacy and Trust:

What is it? Ensuring customer data is handled with transparency and robust security measures.

With increasing regulatory scrutiny and customer awareness, businesses must build and maintain trust by protecting their customers’ information, which is vital for ongoing business success.

Example: To sustain their customers’ trust, companies should communicate clearly about data usage and adopt stringent security protocols to prevent data breaches.

 

Omnichannel Experiences:

What is it? Providing a seamless and integrated customer experience across multiple online and offline channels.

Customers expect consistent interactions and a unified experience, regardless of the channel they are using. This can enhance both their satisfaction and loyalty.

Example: Airbnb offers 24/7 support through various channels, ensuring customers receive timely assistance regardless of the platform they use. (Source)

 

Ethical AI:

What is it? Using AI responsibly and transparently avoids perpetuating biases and helps to maintain customer trust.

Ethical AI practices are essential for building long-term, trust-based customer relationships and ongoing loyalty.

Example: Businesses must be open about how they use AI in customer interactions and take steps to mitigate any negative impacts.

 

Empathy at Scale:

What is it? Combining AI-driven automation with human empathy enables your customer service team to handle complex customer issues more effectively.

This approach ensures that customers feel valued and understood, even when interacting with automated systems, contributing to continued customer satisfaction.

Example: Using AI to address simpler queries frees human agents to provide empathetic support for more complicated issues. It is also usually speedier, which customers appreciate.

Are you following trends? If so, do you turn them into plausible future scenarios? If not, you are missing an

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The Essential Customer-Centric Mission Statement for Achieving Success

Posted on by Denyse Drummond-Dunn

A customer-centric mission statement is a fundamental component for driving success in any organisation wanting to grow more profitably.

It provides a clear direction and purpose, uniting the team towards shared objectives and fostering a sense of belonging. By guiding decision-making processes, it ensures that all actions align with the organization’s dedication to customer satisfaction, thereby setting expectations for employees and customers.

In a competitive business landscape, a mission statement serves as a strategic compass, ensuring that all efforts are focused on achieving customer success and building long-term relationships. A commitment to customer-centric values helps establish trust and loyalty, which are crucial for sustained growth and success. Additionally, a well-crafted mission statement motivates employees to prioritize customer needs and deliver exceptional service consistently.

 

Essential Elements of a Customer-Centric Mission Statement

A mission statement is a strategic tool that defines a company’s approach to customer success. It sets the framework for the company’s actions and decisions, influencing the customer experience. Here, we outline the critical elements of an effective customer-centric mission statement, emphasizing its customer focus, clear and concise language, specific goals and objectives, and alignment with company values.

1. Emphasizing Customer-Centricity

A customer-centric mission statement must be deeply rooted in customer delight to resonate with and meet their expectations. This involves:

  • Understanding Customer Needs: While this is the heart of every successful business, it is essential when customers are mentioned in its mission statement. Therefore, conducting surveys, interviews, and data analyses is important to gain insights into customer pain points and priorities.
  • Crafting Customer-Focused Language: Use language that underscores the importance of customer value and satisfaction.
  • Aligning with Customer Success Metrics: Ensure the mission statement is in sync with key performance indicators related to customer success, driving positive outcomes.

By prioritizing customer-centricity, the organization consistently considers the customer perspective and strives to exceed their expectations.

2. Communicating with Clarity and Precision

A mission statement should be clear and concise, ensuring it is easily understood and memorable. Key considerations include:

  • Defining Purpose and Audience: Identify the mission statement’s target audience and intended purpose.
  • Using Plain Language: Avoid technical jargon and ambiguity to enhance accessibility.
  • Regular Refinement: Continuously review and refine the mission statement to maintain its brevity and clarity.

Clear communication ensures the mission statement effectively conveys the company’s commitment to customer success and resonates with all stakeholders.

3. Setting Specific Goals and Objectives

A mission statement should outline specific, measurable goals and objectives to provide clear direction and focus. This involves:

  • Tailoring Goals to Customer Needs: Define goals that directly address customer expectations and requirements.
  • Establishing Measurable Targets: Set quantifiable targets to track progress and success in customer-related initiatives.
  • Developing Strategic Plans: Formulate actionable strategies to achieve the defined goals and objectives.

Specific goals and objectives ensure the organization has a well-defined path to follow, facilitating measurable progress in customer success.

4. Aligning with Core Company Values

Aligning the mission statement with the company’s core values ensures coherence between organizational objectives and customer-centric goals. This includes:

  • Incorporating Core Values:
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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

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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

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Post Covid People are Searching for More Meaningful Connection & Engagement

Posted on by Denyse Drummond-Dunn

I know, you probably don’t want to read yet another article about the post-pandemic era. But bear with me; this is about customer connection and engagement.

Since covid, people have changed their perspective on many categories. They have also adapted their purchasing behaviour following lockdown. So this seems to be the perfect time to reconsider our customer-first strategies, doesn’t it?

Up until the covid-19 virus infected the globe, almost every single organisation, big or small, recognised the importance of satisfying their customers. However, most of them were only giving lip service to customer-centricity. Very few were actually going beyond voicing their opinions.

So I have some bad news if you are in this first group and it’s this. Not actioning a customer-first approach in everything you do is no longer an option. You were be called out, most probably very publically online. Customers are sharing their experiences of companies and brands far more than they were doing before the pandemic.

It makes sense. What else did we have to do than surf the internet all day long? And this habit seems to have remained. According to the latest global statistics, back in 2020, the average consumer spent 474 minutes a day on digital media. By 2023, that number is predicted to rise, according to the experts, to 500 minutes on digital media.

Taking a closer look at social media use trends, business owners and marketers can learn a great deal about opportunities to boost engagement and business impact as the new norm continues to evolve.

The article by Business.com lists four things consumers are looking for:

  1. They want to be entertained – understandable when you consider how much time they are spending online.
  2. Unlocking creativity – they are not only consuming content, but they are also creating it in larger quantities than ever before.
  3. They want connection and comfort – people are desperate to overcome their isolation and connect with others, so online multiplayer gaming and chat have surged.
  4. They seek positive content to cheer them up – it’s a natural human response to seek uplifting, inspirational content during difficult times.

If I were to sum up these four desires, I would say that people are looking for more connection and engagement. Exactly what a customer-first strategy provides! But there are things to avoid.

When an organisation decides to become more customer centric, there are many mistakes that are commonly made. This article “7 Reasons for Failure When Adopting a Customer First Strategy” gives the main ones and makes a complementary read to this post.

But today’s world has accelerated the upward trend of the importance of a customer-first strategy and makes it one of the most, if not the most important one for all organisations.

It is no longer the norm, or even the new norm, of successful businesses. It is becoming the make-or-break criteria for surviving the post-pandemic era.

And many companies are already falling behind – fast! It should, however, be noted that for many retailers, the … Click to continue reading

7 Reasons Why Your Customer First Strategy Adoption Will Fail!

Posted on by Denyse Drummond-Dunn

Every CEO knows that a stronger customer focus can be the answer to many – dare I say most? – of their business challenges!

So why do so many companies continue to struggle in successfully adopting a customer-first strategy and culture?

Here are the seven main reasons why companies fail to effectively adopt a customer first strategy; which one are you struggling with the most today?

1. The CEO has stated it as a company objective but has not detailed what nor how the organisation will change

While it is essential that a customer-first strategy has a board-level sponsor, it is important that every employee understands their role in making it happen. It should not be treated as just another project for one department to complete, but as a long-term, top 3 company objective.

When this happens, every division is driven to identify how their actions will impact their customers and what part they will play in meeting this important company objective.

This is one area where the CEO can’t set it and forget it. He/she needs to be regularly informed of progress and should ask some “awkward” questions to ensure that everyone is truly embracing the objective. Without this company-wide support, the strategy will never succeed.

A few years ago, the Business Roundtable, which is an association of over 180 CEOs leading US companies, agreed to put people before profits. They specifically said they would be:

  1. Delivering value to our customers.
  2. Investing in our employees.
  3. Dealing fairly and ethically with our suppliers.
  4. Supporting the communities in which we work.

With many organisations now struggling to recover from the impact of covid-19, it is interesting to see whether they have all moved forward on these objectives.

The Business Roundtable updated their results one year later. In the summary you can read HERE they say:

One year later – through a period of unprecedented crises – companies have demonstrated a commitment to the values embedded in the Statement.

These numbers should be sufficient to convince every CEO that a customer-first strategy is worth investing in. In fact, it is an essential strategy every CEO would be wise to adopt, no matter what industry they are in. So what are you or your CEO waiting for? Did I miss a different problem you are currently facing? What other challenges have you faced or are now facing in adopting a customer-first strategy? Please let me know by adding your comments below.

If you would like to know what support we can provide in helping you to adopt a customer first strategy, check out our website then contact us here: https://c3centricity.com/contact

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10 Ways to Improve Customer Centricity Today

Posted on by Denyse Drummond-Dunn

Many of you know that it is vital to continuously improve your customer centricity. You must put the customer clearly at the heart of your business in everything you do. But that’s easier said than done because your customers are constantly changing.

I think that’s why many businesses struggle to improve their customer centricity because they don’t know where to start. Am I right? If so, then this article is especially for you. 

This week I want to share ten simple actions to accelerate your organisation’s improvement of customer centricity. 

 

#1 Review the description of your target audience

Complete this 4W persona template for customer centricityLet’s start at the very beginning – with the customer of course!

Do all your brands have a clear description of their target audience? These days we tend to refer to these as personas or avatars. Whatever you call yours, they should be precise, detailed and ideally visual as well.

If you haven’t yet developed your persona, or you know it is not as complete as it could be, why not use our new C3Centricity 4W™ Persona Template? Complete the who, what, where and why for each of your brands and finally understand who you are aiming to attract.

I suggest you also complete one for your company if it appears predominantly on your packaging or communications. I did this for a client and found that some of their brands were positioning themselves in opposition to their company image. As you can imagine, this was getting them nowhere and damaging both their brand and company image!

Include in your own persona template not only demographics and consumption/purchasing habits, but also information about where your customers do these things, what values they have that you can tap into, and what emotions motivate them to use your brand.

If your current persona doesn’t include all this information, it is probably time to update it – and why not with our 4W™ template?

 

#2 Optimise how you connect with your customers

Do you know the best way to contact your target customers and their preferred place and time to connect? You should after completing your updated persona template.

Review how you communicate with your customer and what information exchange there is at that time. Is it a one-way or two-way discussion? Are you in a monologue or a dialogue?

Obviously, the second communication style is what you should be aiming for. You can learn more about your customers when they are ready to share their information. And that comes when they trust you to keep their data safe and know that you only collect what you need to give them a superior experience. Make sure that’s what you are doing.

#3 Identify the needs your brand is addressing

Do you know what needs your customer has and which of them you are tapping into?

Which customer need are you solvingThey certainly have several needs, but you should aim to address only one of them.

If you attempt to address more than one need at the same time, … Click to continue reading

13 Most Inspiring Marketing Quotes and Questions to Live By in 2022

Posted on by Denyse Drummond-Dunn

Did you know that using marketing quotes can improve your plans? Do you have a plan you are following that will (hopefully) enable you to reach your goals?

To meet our objectives, we often look to make changes, large or small, in our organisation. At times like these, I find it useful to motivate with inspiring marketing quotes from people much wiser than I am. If you are looking for ways to motivate and inspire your team, then I am sure you will enjoy these.

This is my selection of great quotes from some of the best marketers around, together with a relevant question to ask yourself for each. If your favourite quote is not included, then please add it to the comments below the post.

 

#1.  “Strategy and timing are the Himalayas of marketing. Everything else is the Catskills” Al Ries 

This quote refers to the Catskills, a province of the Appalachian Mountains, located in southeastern New York and only 1270m high. It compares them to the Himalayas, a range that includes some of the world’s highest peaks, including Mount Everest (8,849m).

It uses this comparison to suggest that to succeed in marketing you have to afront the highest peaks of strategy and timing, and not be satisfied with scaling simple hills. In other words, be in the right place at the right time with the right offer. Simple!

QUESTION: Are you going to upgrade your marketing this year to meet this lofty challenge?

 

#2.  “In marketing I’ve seen only one strategy that can’t miss – and that is to market to your best customers first, your best prospects second and the rest of the world last” John Romero

I love this quote because it refers to knowing and understanding your customers. The best ones, however you define that, come first and your best prospects come second. If you’d like to know if you’re targeting your very best customers and best prospects, then check out the following post: How Well Do you Know Your Customers? 13 Questions your Boss Expects you to Answer

QUESTION: Do you know who your best customers are and everything you should about them?

 

#3. “Business has only two functions – marketing and innovation”  Milan Kundera

This post shows the often forgotten importance of marketing to business. I know those of you in sales or operations etc will complain, but if customers don’t know and love your brands then you don’t have a business. It really is as simple as that. I also like that innovation is included, because especially today, customers have become so demanding that we need to constantly upgrade our offers to them.

QUESTION: Does your business value marketing? If not, how can you help them to recognise its value?

 

#4. “The wise man doesn’t give the right answers, he poses the right questions” Claude Levi-Strauss

Are you better at asking questions or answering them? Which is more important in your job? Why? A leader doesn’t have all … Click to continue reading

10 Ways to Immediately Improve Your Customer Centricity

Posted on by Denyse Drummond-Dunn

We all know that adopting a customer-first strategy is essential for business growth and profitability. However, customer centricity has become even more important today, as a result of all the changes in our customers’ behaviour following the global covid lockdown. We are now even more impatient and demanding of businesses, and quick to complain publicly when things go wrong, or rather when we are not totally satisfied.

All companies need to put their customers clearly at the heart of their organisation. But I know that many struggle, even in more normal times, to be customer-centric. They just don’t know where to start. Am I right? If you’re in this situation yourself, then this article is for you. In it I share ten simple actions to accelerate your organisation along its path to an improved customer-first strategy.

 

#1 Review & Revise the Description of your Target Audience

Do all your brands have a clear description of their target audience? These days we tend to speak about personas or avatars.

Complete this 4W persona template for customer centricityIs it as complete as it should be? If not, then regular readers will know about and probably use the C3Centricity 4W™ template for storing all this information. You can download it and get the accompanying workbook for free here.

In your avatar, you must include not only your customers’ demographics and consumption / purchasing habits, but also information about where they do these things, what values they have that you can tap into and what emotions motivate them to purchase and use your brand.

 

#2 Assess the Optimum Way of Connecting with Your Customers

Do you know the best way to contact your target customers, as well as their preferred place and time to connect?

Review how you communicate with your customers and what information exchange there is at that time. Is it one-way or two? Are you in a monologue or a dialogue?

Obviously the second is what it should be. You can learn far more about your customers by listening, especially when they are ready to share their information with you.

For an original take on engaging your customers see “You’re missing out on a Free Communication Channel!” (Any guesses what it is?)

#3 Identify the Needs Your Brand is Addressing

Maslow's hierarchy of needsDo you know what needs your customer has and which of them you are tapping into?

They certainly have more than one need, but you must identify and address only one at a time.

If you attempt to address more than one and especially if they are not sequential, your customer may be confused.

Mixed brand messages on what the brand can do for them, will leave your customers perplexed. This will, in turn, reduce the likelihood that they will be convinced your offer can meet their needs and objectives.

Knowing where your brand sits on Maslow’s hierarchy of needs has one additional benefit. It can increase the success of regional and global launches by identifying cultures with similar levels of a specific need.… Click to continue reading

How Marketers Can Benefit From More Than Technology: Modern Marketing

Posted on by Denyse Drummond-Dunn

Just like most entrepreneurs and business people, I go to my fair share of conferences. I believe that marketers can benefit from being regularly challenged by new thinking and ideas.

One that stays in my memory for many reasons, was an event I attended in San Jose, California. Some say California is the centre of internet marketing; the San Francisco area for technology and San Diego for marketing. I tend to agree after having recently attended events in both cities.

The conference that changed many of my views on modern marketing was one about how business people, not just marketers, can break through our self-limiting behaviours. It is this idea which prompted today’s post. How we marketers can relinquish our well-established thoughts and actions to make our businesses grow more profitably. If this is of interest to you too, then read on.

 

HEART-CENTERED VERSUS CUSTOMER-CENTRIC

The conference I attended in San Jose was a great opportunity for me to meet many other people from around the world. People who want to make their businesses more heart-centered. You know that I am a champion of customer centricity. I love to support companies that want to put their customers at the heart of their businesses.

So you might be wondering what the difference is between a customer-centric and a heart-centered business. After the conference, I would say that in my opinion, not much. I believe it is difficult to think customer first without it also involving the heart; at least, it should.

As we try to put our customers at the centre of our organisations, it is through a concern to satisfy and delight them. A heart-centred business would probably go even further to ensure that what they do also benefits non-customers, or, at least, doesn’t harm them.

Creating shared value has become a strong commitment of many of the leading global players in the consumer goods market. Reliance Jio, Merck and Bank of America lead the way according to the Fortune “Change the World” List.

If the topic inspires you then you might also be interested in reading an article on “Innovation and Creating Shared Value”, which I was invited to contribute to one of the first issues of the Journal of Creating Value. I will also be speaking at the 2nd Global Conference on Creating Value in New York later this year. So let me know if you too will be attending and we can meet up.

 

CUSTOMER FIRST EXAMPLES

But back to defining the types of business. Which is yours? Heart-centered or “just” customer-centric? Or are you not even there yet?

Do you think customer first but forget about those who are not yet your customers? That’s a dangerous thing to do as you may be limiting your brand’s potential. Here are a few current habits that some companies have, which show how customer centric they are – or not:

 

  • Asking credit card details for a “free” offer. This
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How Well Do you Know Your Customers? 13 Questions your Boss Expects you to Answer

Posted on by Denyse Drummond-Dunn

Be a true leader; share this post with the members of your team who need the inspiration and support.

Your boss expects you to be able to answer all his questions and especially to know your customers. Here are the 13 things your boss is likely to ask you and a handy Checklist to prove to him that you know your customers better than he realises.

Everyone speaks about customer centricity and the importance of the customer, but just how well do you know yours – really? The following is a checklist of 13 facts you need to be able to answer in order to know your customers as well as you should.

As you read the post, keep tabs on your answers and share your final score below. I’m offering a personal 50% discount code to spend in store for everyone who publishes their score here in July 2018. And if you’re the boss, I’d love to hear how well you think your team would do – 100% of course, no?!

 

 

#1. Who is your customer?

C3Centricity how well do you know your customerOK I’m starting off slowly, but do you know who your customers are? Not who uses your category, but who the people are that actually buy your product or service today? How much do you really know about them?

Their age, gender and location are the basics, but there’s a lot more you need to know about them. Check out “12 things you need to know about your target customers” for more on what you need to know to be able to describe them in the depth your boss expects.

The C3Centricity 4W™ Template is a great resource for storing all the information you have on your customer. Download a free copy and watch the related videos HERE.

 

 

#2. What business are you in?

Although this refers more to the category than the customer, it is important to ensure you are looking at it through the eyes of your customers. Many organisations are working with industry definitions rather than customer ones. What about you? If you want to know your customers, you need to understand what category they think they are buying.

This is one of the essential elements you need to understand in order to know your customers deeply. It is something that many organisations don’t take the time to clearly identify, which results in an incorrect appreciation of their market and competitors. By not correctly identifying the category you are in, or plan to enter, your innovations will also lack the success you are hoping for.

For instance, are you in the food business or the pleasure business, beverages or relaxation? One of my clients wanted to launch a fruit flavoured soft drink and thought they were competing with other soft drinks. When we worked together we discovered that they were actually competing in the energy drink business! Reklama internete ir SEO optimizacija https://seopaslaugos.com/117-seo-optimizavimas

How many of your brands are not competing where you … Click to continue reading

Why You Struggle To Meet Your Business Objectives (And how to Crush them)

Posted on by Denyse Drummond-Dunn

“There may be customers without brands, but there are NO brands without customers!”

I am often quoted as saying this and yet I still find most companies spend more time thinking about their brands than their customers, which is alarming to say the least! And you? 

Last week I spoke about identifying the exact category in which you are competing. If you missed it, then I suggest you read “You’re Not Competing In The Category You Think You Are!” before continuing. You will never be successful if you don’t understand the category people put you in and the competitors they compare you to.

In the post, I explain that we often work with a category definition that is based upon industry norms rather than that of our customers. For instance you might segment by price or demographic groups, whereas your customers group brands by flavour or packaging.

Understand how customers see the category and its sub-segments can make a huge difference to your success in satisfying your own target customers.

This week I want to continue the theme of taking the customers’ perspective by speaking about our own business objectives. You know, the topics that make up our business and marketing plans with such lofty ambitions as:

  • Grow our market share to X%
  • Become the category captain/leader in Retailer Z
  • Launch three new brand variants

All of these may be valid business objectives, but they are not customer focussed. They start from the business perspective.

Adopting a customer-first strategy means turning business objectives into customer aims, by taking what is sometimes referred to as a bottom-up, rather than a top-down approach.

Here are some questions to help you identify your customers’ aim, their attitudes and behaviours that you are trying to influence:

1. Who are you targeting?

Every brand has a target audience. This is a sub-segment of all category users. Yes, you do need to segment users and target the most relevant and most profitable group of them for your brand, and then ignore the rest. If you are trying to appeal to everyone you end up pleasing no one!

“If you are trying to appeal to everyone you end up pleasing no-one!”

2. Why are they currently using your competitor’s brand?

In order to attract your competitors’ customers, you need to understand their motives, why they are preferring the competitive brand to your offer. This information can come from many sources, such as market research, social media, or care centre contacts.

3. What reason might make them consider switching?

If you are to appeal to your competitors’ customers then you must be able to satisfy them at least as well, and ideally better than does their current brand. What do you know about the criticisms customers have of the brand? What benefits do you offer and they don’t, or only partially? Could these be appealing to some of their customers?

4. Why do you believe that you can appeal to them now but didn’t before?

Do you have … Click to continue reading

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