As we close in on the end of 2015, I wanted to speak to my fellow entrepreneurs who are putting the final touches on their 2016 strategic plan. The success of your company in 2016 has less to do with what your strategies are for increasing sales, expanding product offerings, or market expansion. It’s about delivering exceptional value to your customers!
I know that may seem obvious, but if I were to look at your strategies would I get the feeling your company is more important than the customers? Will I see more about lead acquisition, sales goals, closing techniques, and competitor analysis than building a culture that is customer-centric and market driven?
Craven wrote in his book Strategic Marketing 9th Edition, “the underlying logic of market-driven strategy is that the market and the customers that form the market should be the starting point in business strategy. Importantly, market- driven strategy provides a company-wide perspective, which mandates more effective integration of activities and processes that impact customer value”.
Simply stated, your strategies should be built from the customers’ perspective. What are the values that motivate your customers to purchase, what are your company’s unique capabilities in providing those values, and what are your measures to determine how well you are meeting those values?
It is too easy for us to get caught up in building a successful company and forget those who actually facilitate the growth. A good measure is to look at your strategies and see if you included customer retention, customer relationship management, and monitoring social commentary. If not, take a step back, create a profile of your customer, and ask if each strategy will enhance their brand experience and loyalty.
Cravens. Custom book for Ashford: Strategic Marketing, 9th Edition. McGraw-Hill Primis Custom