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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?
Standouts practice and encourage experimentation and innovation throughout their organizations. To succeed, they take more calculated risks, find new ideas, and keep innovating in how they lead and communicate. By drawing more insight from the available data, successful CEOs make customerintimacy their number-one priority.
At its 100-year milestone, IBM shows us what it takes to outlast depression, war, and intense competition in order to remain a market leader in the midst of ongoing technological innovation. Know your customers intimately. Newly appointed CEO Lou Gerstner logged thousands of hours visiting customers, industry experts and analysts.
By capturing data on 15,000 visitors passing through the festival entrances and comparing it to customers who visited their restaurants two months prior to the festival and two weeks after, they concluded the festival resulted in 1,300 net new customer visits. Operations. We are in the Age of the Customer.
Yet wanting to be closer with customers, and knowing what actual, operational pathways to take in order to achieve this are two very different things. This way, they can respond very quickly to new or changing customer needs, incrementally. The Future of Operations. Insight Center. Sponsored by GE Corporate.
Without such data it is simply too easy for competitors to let you do the hard work of innovation, then copy your insights and erode your competitive advantage. The key lies in developing and exploiting "proprietary data" — data that you and you alone possess.
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. The Challenges for Industrial Giants. Not, really.
Today, however, by exploiting new digital technologies, firms like Apple, Lending Club, and AirBnB have made customer co-creation of value central to their business models and in doing so now rank among the world’s most innovative and valuable firms. To drive co-creation, you must invite your customers into the value equation.
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