Author of
The Gauntlet
Today’s market is more customer-driven than ever before. Everyone and everything is connected, everywhere and all the time.
Companies who compile “big data” believe that it this gives them an advantage, but in reality, today’s high connectivity makes data access available to many. Often, much of the available data is inward-looking, generated by the operations of the business, rather than outward-looking which reflects customer or market insights.
Your business lives with your customers. It always has, from its beginning, when getting that first order was essential. In this dynamic market, your customers’ needs are continuously evolving; what they value can change frequently.
Companies who thrive in this customer-driven market:
- Sustain strategic relationships with key customers, seeking to continually discover what they value and empowering their people to challenge what is possible in creating that value. They cultivate entrepreneurship, commitment and shared ownership, encouraging cross-functional collaboration to innovate and improve.
- Transparently share appropriate data with customers to confirm how value is being created for them, and within the business, which enables their people to realize how each makes a difference for customers and the business. The sense of shared ownership is strengthened by data sharing, and internally, awareness of personal growth opportunities is raised.
The customer-driven market is the future of business. Those who thrive in it anticipate disruption, stay close to key customers, relentlessly challenge the status quo, and drive, rather than adapt to, change.
How well is your business thriving in the customer-driven market?
