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Know Your Customer
‘Get closer than ever to your customers. So close that you tell them what they need well before they realise it themselves’. – Steve Jobs (Co–founder, Chairman and past CEO of Apple)
5 Essential Truths
- Customer and brand loyalty are in decline.
- Customers are more informed, more demanding, more fickle, and more tuned in to one another’s opinions.
- Companies in virtually every industry are feeling the heat from more discerning—and often less loyal—customers.
- Chalk it up to globalisation, social media, economic uncertainty, and product commoditisation.
- Companies need a more complete, intimate understanding of their customers and customer behaviour to get them, grow them, and keep them.
5 Immediate Check Points
- Do you take the time to walk in your customers’ shoes? Do you know customer behaviour and trends affecting your customer?
- Are you asking the right questions? Do you know which are the right questions to ask?
- Do you underestimate the strength of your current data; it doesn’t have to be complete to be valuable?
- Are you planning for how you can turn the insights into actions?
- Do you picking a tight, focused project that can generate valuable insights and recommendations that will likely be easier to execute?