Organizational life spans are compressing, global uncertainty is rampant and consumer attention spans are dwindling. To thrive, businesses must place customers at the forefront of all they do, write David Conway and Tim Knight. The pair urge you to nurture a company culture that supports the entwined experiences of your employees and customers, and to embrace servant leadership. The authors share a 90-day strategy to help you create change, transform your business and become more agile.
Understand your customers to succeed amid global uncertainty.
Change is one of the few constants businesses experience today. Rather than view uncertainty as an obstacle, treat it as an opportunity to serve your customers better, excel and stand out from your competition. Cultivating a deep knowledge of your customers enables you to serve them with confidence and to remain relevant in chaotic times.
Consumers feel vulnerable and under pressure today, and serving them demands exercising more corporate responsibility, sustainability and social purpose. Research indicates the future will support an “integrity economy,” meaning consumers will evaluate an organization according to its ethics as much as they evaluate its services and products. They expect the businesses they support to be purpose-driven – not only profit-driven – and expect to see evidence of that purpose on every step of their customer journey.
Consider five key factors when assessing targeted consumers and their networks.
Reflect on the “5 Mys” to reach a better understanding of your customers’ needs, motivations and economic drivers: