Understanding the needs of your customers and improving them is key to your organizational success.
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Organizations can improve both revenue and margin while displacing competition. It’s simple really, by focusing on customers who really drive growth and margin, you know, the customers that matter.
Best Long-Term Strategy For Success
To begin, that’s what many organizations miss, focusing on the customer is the best long-term strategy to success. This means listening to them, critical incident reports, surveys, direct feedback. Just talk to your customers, communicate, and connect to find out who they are, what they want, and how you can fit into that niche. Re-Engage your customers.
For example, it’s a mistake to prioritize new customers by offering them deals which your current customers can’t partake in. This will make your existing customers feel less valued or short-changed.
To be clear, this improvement is critical to your organization, especially to survive through major disruptions like COVID-19. Understanding your customers is the first step on your project to implementing change. If you make this small change, then the next round of changes will be easier to implement. In addition, this improvement puts your organization on a path to continuously transform.
Today Pays for Tomorrow
Another small tip, all leaders appreciate that you can’t pay for tomorrow’s investments today if the business is not around in the future. Now more than ever, we need to understand what our customer values. Values that are shifting based on dynamic human belief systems. Reconnecting with your customer needs is the best way I know to contribute to margins and continuously grow revenue. Check out Customer Value Mapping or Adaptive Organization Design for more.
Hit the Bullseye
Recovery Drives Growth
To digress, let’s talk about RECOVERY. Understanding recovery and realigning your business to deliver maximum effectiveness positions you for GROWTH. This is where you aggressively refine your ‘modified’ customers and align them against your set of products/services.
A great application of this concept is to find out which products/services are most attractive to your customer and invest in those.
Next, a change mentality, Continuous Business Transformation, where your organization is not only anticipating and adapting to customers but also innovating what and how you offer products/services.
In conclusion, for a business to transform, you must redefine how you change as an organization. This includes analyzing your business, operations, and revenue model. There’s more, you should also understand new capabilities and their potential impact on future investments.
What does it mean to redesign end-to-end processes? What is your digital footprint as an organization? How important is your brand in change management and BT?
Success principles are like any other discipline, a mindset. A mindset that is taught by experts. People who have walked the path before you and have implemented successful change.
Here’s a tip, success is available to anyone willing to do the research and find out the right way to achieve their goals. We’re here to help you on your road to success. Check out our free courses for more.
If you enjoyed this blog, you may like these materials as well:
Business Transformation 2.0 – A comprehensive guide to what the Business Transformation discipline actually means.
GM’s Transformation Story – General Motor’s recently went through a massive transformation, it’s really an interesting strategic move. Learn more
Executive Insights – Understand what and how to define and execute the transformation that your organization will need to implement, to not only survive but thrive as change continues to accelerate.
We offer tools and resources to help transform your organization and career on your journey to success. It’s time to take change head-on rather than waiting around, scared or uncertain for your organization and future. You cannot live in fear. Your organization needs your help right now and will greatly reward this kind of thinking.
Please add your thoughts to this blog, or better yet just contact us and we can explore this further to ensure that the investments you are ALREADY making drive your strategy.