This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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.
Back in my own days as an executive, I was hugely influenced by a book called The Discipline of Market Leaders. 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.
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.
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.
By drawing more insight from the available data, successful CEOs make customerintimacy their number-one priority. Better performers manage complexity on behalf of their organizations, customers and partners. Compared to other CEOs, dexterous leaders expect 20 percent more future revenue to come from new sources.
What is more important to company success, a strong external focus on customer experiences or an internal focus on effective and efficient operations? Bean have had lots of information about customers for many years that they have used to tailor offerings and services. As a direct marketer we have been good at customerintimacy.
Most people think standard operating procedures are a strait jacket that limits their flexibility. They can actually make it easier to tailor customer experiences at low cost. As Chief Marketing Officer Paul Matsen told me, "We use enterprise-wide standards. I call this understanding and tailoring "customerintimacy" ).
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. By 1955, IBM's revenues were $564 million and it led the world market in making computers. Here are several lessons worth sharing.
” As a result, marketers and their employers are missing a potentially powerful brand- and business-building opportunity: leveraging online security measures as a way to build trust with shoppers, which will ultimately lead to increased sales. Online security and customerintimacy go hand in hand.
The culprit turned out to be a series of benches placed in front of the wall, limiting customer access. Marketing. A restaurant chain wanted to understand the whether or not sponsoring a local music festival had a measurable impact on customer visits. Operations. We are in the Age of the Customer.
How well do you know your customers? This seems to be a key question on the minds of not just marketers, but company strategists these days. This intensive customer focus has increased as technology-enabled transparency and online social media accelerate an inexorable flow of market power downstream from suppliers to customers.
and in its home market in the U.K. having sacrificed customerintimacy for increased operational excellence gains through widespread cost cutting, are well documented. In the UK, Tesco lost the plot several times in recent years as they grew to double the market share of competitors like Sainsbury''s and Asda/WalMart.
However, if you need capital to validate, you are operating in a zone that will be full of very dark hours. Using IT services to generate cash and develop customerintimacy, it is entirely possible to build products. The Indian market is a slow adopter of new technologies.
We don’t expect Amazon or Microsoft or IBM to design, make, and market agricultural tractors, aircraft engines, or MR scanners. That’s much different than digital natives like Airbnb where marketing is more important than technical expertise. Customerintimacy. The Challenges for Digital Natives. Not, really.
However, what these executives don’t fully appreciate is that the customer affinity spectrum extends far beyond promotion. Through co-creation, companies can access a deep well of customer capabilities, knowledge and assets. To drive co-creation, you must invite your customers into the value equation.
Going to market effectively these days, no matter what business you''re in, means relating to customers as individuals — even if there are millions of them. retailer Tesco built detailed profiles of customers and then used these insights and a flexible supply chain to customize their products and offers.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content