The challenge with business decisions around growth and innovation has always been managing the unknown. In the Covid era, with all the additional uncertainty, the challenge is even more pronounced. The good news is that companies who are pivoting, innovating, and focusing on performance are survivors. If this describes you and your firm, there is the strong likelihood of something good on the other side.
Applying Rigor to New Product or Services Innovation
Virtually every company I know is immersed in some kind of a Covid “Pivot”. For most companies, some part of their value delivery must adapt to our evolving situation. And we see lots of examples, where value delivery becomes digitized.
Without even mentioning the “C-word”, you all know there has been a large exogenous force, just slightly smaller than a comet striking the planet, and disrupting our lives, to say the least.
Loyalty is an emotion, nearly always described as a feeling – of confidence, of trust, of protecting one’s vulnerability, of being ‘somebody’ – a part of the inner circle. Throughout countless conversations, surveys, interviews and general interaction with members of loyalty programs, I can state without hesitation that the #1 driver of loyalty has been “they know me”.
All companies are committed to winning – but sometimes leadership teams don’t act like it. As much energy that goes into strategy and planning, CRM deployments and sales analytics – you would expect spectacular results.
The idea that there is some collective, monolithic thing called the New Normal is a myth, constructed as part of our coping with the massive uncertainty we all face.
We have been through an incredible period of a growing economy, rising valuations, customers willing to embrace innovation, and just overall good times.
One of the hardest tasks Association leaders own is knowing what is truly on members’ minds, and how to shift the agenda in response.
Let’s face it, we all want to grow. Regardless of company size or business category, growth is your goal. And yes, you want to be smart about it. Certainly M&A strategies can play a role, but what about organic growth? Whether you are expanding your product or service offerings or entering adjacent markets, before you begin deploying resources around the new opportunity, consider these four critical guidelines:
If you’re a B2B marketer, here’s what you need to know about Customer Satisfaction (C-Sat) and why you should be wary of NPS as a sole measure of customer experience.