Last Saturday was the start of Summer in the Northern hemisphere and the weather certainly confirms this, at least for now! Summer is a great time to reflect on the progress we have made to date on our journey to Customer Centricity.
Organisations need to take a step back occasionally and review how their plans are going. What changes do they need to make to ensure they meet their objectives over the remaining six months of the year? So here are my ten ways to tell if you are well on your way to becoming truly customer centric – and what actions you can take to get further along your journey.
#1. Identify the category in which you are competing
This may sound strange to you, but many br ands are not competing in the category in which they first thought they were. Think soup which is now a meal replacement, or laptops which are now entertainment platforms.
Action: Review how your product or service fits into the customers’ daily life and how they compare and decide between options. This will help you identify your real competitors and the actual category in which you are competing.
#2. Underst and your primary target
Knowing precisely who the customer is for each of your br ands is the first essential step to satisfying them. Use the BCG Matrix to help select the best group. Do you already work with this matrix, or do you have a better system? Please share your own best practice below, so I can learn.
Action: Review the target audience for each of your br ands and ensure you have information on their “4Ws”. In other words the Who, What, Where and Why: demographics, purchase, usage, media use, places of purchase, consumption, connections to communications, their values, usage motivations and emotions when doing so. If you would like to learn more about targeting, check out this post.
#3. Watch and listen to your customers
Personal experience of your customers is essential to putting them at the heart of your business.
Action: Ensure everyone has regular – ideally monthly – contact with the customer. This can be by listening in at the call centre, watching market research interviews & discussions, or observing customers as they shop and use your product / service.
#4. Know what current trends could mean for your business
Many organisations follow trends, but they don’t provide any competitive advantage. It’s time you started turning them into future scenarios or use future prototyping. (Contact us here to learn more about this)
Action: Identify the most relevant trends for your br and and then project them into the future to develop two axes of uncertainty and four plausible future worlds. These will help prepare the business for future opportunities and challenges. Alternatively, why not try Sci-Fi Future Prototyping? (Contact us here for more information)
#5. Reinvent your innovation
Most organisations innovate based upon their current knowledge or technical skills. This keeps them boxed into a narrow b and of categories. Continue Reading