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What is your organization’s claim to fame—operational excellence, customerintimacy or product leadership? If your focus is customerintimacy, do the employees who personally excel at operational excellence and product leadership feel engaged or disenfranchised in your workplace? How are you doing in the other two areas?
These paths are clearly and effectively outlined by Fred Wiersema and Michael Treacy in The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market : 1) Operational Excellence – Lowest Cost. 3) CustomerIntimacy – Best Overall Solution. How are you operationalizing it?
To close, every business aspires to become indispensable to their customers. I know that my firm, N2Growth, seeks that level of customerintimacy with every client, and, I know that we practice the principles outlined above – becoming “very sticky” with the vast majority of the firms that we serve.
A review of the project identified an opportunity to build an online customer support portal as a means to better capture and understand customer needs; Sales Support Project: A global manufacturer determined that its sales force performance was less than stellar.
In small businesses, however, there are fewer decision-makers, and they’re so close to customers, employees and daily operations that they can get a sense of whether a decision is right or wrong very quickly. CustomerIntimacy. In smaller organizations, a much greater percentage of employees work with customers directly.
The authors argued that companies had to pick between one of three paths to value creation and success in the market – operational excellence, customerintimacy or product leadership. Back in my own days as an executive, I was hugely influenced by a book called The Discipline of Market Leaders.
In small businesses, however, there are fewer decision-makers, and they’re so close to customers, employees and daily operations that they can get a sense of whether a decision is right or wrong very quickly. CustomerIntimacy. In smaller organizations, a much greater percentage of employees work with customers directly.
The most successful organizations co-create products and services with customers, and integrate customers into core processes.They are adopting new channels to engage and stay in tune with customers. By drawing more insight from the available data, successful CEOs make customerintimacy their number-one priority.
The culprit was the myopic view of leadership driven by a “make the numbers” through operational excellence not customerintimacy. And, the human in command of taking care of the customer was jailed by a system that quarantined a solution that favored the customer.
As a direct marketer we have been good at customerintimacy. We know a lot about our customers. We have known for a long time that we needed to be operationally excellent, but in the past we''ve fixed problems reactively, after the event, to keep customers happy. But it isn''t easy.
While a focus on lowering costs, improving quality, and providing consistent, reliable service will continue to be important, I see a shift in the coming decade to combining operational excellence with customerintimacy: tailored solutions for individual customers based on a deep understanding of their needs.
Many years ago, Dana Olson and I went to a very elegant Chinese restaurant in New York. It was an intimate space with a clear view of the kitchen. We could see the shrimp we’d ordered being tossed into the wok. The shrimp must have been alive because they screamed, or so it sounded, as they were cooked on high heat.
Aspiring to be the most beloved brand in the world, Bonjoro works at turning customers into friends. The post Turning Your Customers Into Friends (And Your Employees, Too) With Matt Barnett first appeared on Steve Farber. This culture has been the main driver of their business success. Bonjoro is an app for sending individual.
Newly appointed CEO Lou Gerstner logged thousands of hours visiting customers, industry experts and analysts. He then set about transforming the company to rekindle IBM's historic commitment to customerintimacy, to make the organization much more integrated, and to streamline operations.
Yet at the same time they use these standards as a springboard for creating unique solutions for each customer based on a deep understanding of their needs. (I I call this understanding and tailoring "customerintimacy" ). The result is a powerful combination that fulfills two customer value propositions at the same time.
Online security and customerintimacy go hand in hand. And this customerintimacy can be leveraged to protect your customers. It’s time to recast the conversation about cybersecurity so that marketers can help craft a response in conjunction with their customerintimacy programs.
We are in the Age of the Customer. In order to survive and prosper, firms must embrace customerintimacy — online and offline — as a core competence. No doubt, many firms will continue to fly blind when it comes to understanding customer behaviors in their venues.
In particular, we encourage them to immerse themselves with customers, learn their problems, and do some services projects that not only generate cash, but also generate customerintimacy and trust.
In this article we look at three very different organizations – IBM, Rich Products, and Intuit – and the three different paths they have taken in reconfiguring their operations for more customerintimacy, by changing methods, reengineering processes, and transforming culture. IBM: Applying a Hybrid Design-Thinking Approach.
Third, new easy-to-use online webinar and videoconferencing technologies make it possible for inside salespeople to create customerintimacy without field interaction. What types of selling situations or tasks are most compatible with inside sales?
Using IT services to generate cash and develop customerintimacy, it is entirely possible to build products. Given this rather messy environment, entrepreneurs have a few pragmatic choices on how to navigate the seed stage bottleneck: Bootstrap with Services : Many Indian IT entrepreneurs come from the services industry background.
Operational excellence, customerintimacy, or product leadership — successful companies excel in one dimension and perform well in the others. It’s time to think of business strategies for a digital world — rather than thinking of a stand-alone “digital” strategy.
having sacrificed customerintimacy for increased operational excellence gains through widespread cost cutting, are well documented. In recent years, Tesco stumbled in launching new stores in the U.S. and in its home market in the U.K. One commenter on my post put it bluntly: "Tesco''s recent woes in the U.K., Not anymore.".
But here are some examples of how brands are meeting the challenge: Develop customerintimacy. Every strategy begins with an understanding of your target customer. Brands need to tap into this new dynamic by ensuring that, as the path winds and wends, they''re part of the experience. It''s easier said than done.
Thus, innovators may seek competitive advantage in their product and service data; the low-cost providers on operations and process data; and those aiming for customerintimacy on customer data. It is vital to develop a deep understanding of what is essential for the future.
Heat map data can then be used to compare stores and departments (or theoretically, even create rankings of employees) which all could be used to optimize the retail experience for particular customer segments.
Customerintimacy. Industrial giants have well-established brands, built strong customer relationships, and signed long-term service contracts. They’ve won the customer’s trust, which is why customers are willing to share data.
Improved customer insight : The increased customerintimacy that comes with co-creation deepens your understanding of your market, enabling you to serve it better. When customers co-create and have a vested interest in its success, they are more willing to share personal data and other assets with it.
Disgruntled customers can make a video on YouTube to broadcast their tale of mistreatment, as Jarrett Seltzer did when Verizon billed him $2,345 for its equipment when his home burned down. But enhanced marketing capability, by itself, is not sufficient for gaining maximum customerintimacy.
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