Source | www.quora.com | Growth & Innovation Evangelist, Speaker and Author
This is one of my favorite topics. In fact, I go into detail about this subject in my book, . When I meet with companies, I like to start by asking a simple question, which usually sparks some very interesting dialogue. Here it is: Are you product led? Or are you customer led? It is always interesting to listen to a leadership team default to ‘customer-led’ until we start to unpack what that actually means in the context of growth. Most times, not always, they are in fact product led. Enamored by what they make. What they sell. Why their products are different than the rest of the market. And they believe, their products are what makes them who they are as a brand.
When a company is truly customer led, they start with how they improve the business or lives of their customers in some way. They tell the customer story. They share who they are from the outside in. Today, people do business with brands they trust, with companies who they feel a connection with. Those companies that are customer led have one thing in common, the customer is at the center of all the decisions they make as a brand. Why is that important you might ask? Just take a look at these stats to help you understand why working for your customers over the long term has value to the business in the short term too.
- In a recent study, 68% of C-Suite executives expect organization to emphasize customer experience over product in the future.
- 86% of customer are willing to spend more for a better customer experience.
- Analysis shows that companies that excel in the customer experience grow revenues 4-8 percent above their market.