Customer Intimacy vs. Customer Satisfaction

CO2

These paths are clearly and effectively outlined by Fred Wiersema and Michael Treacy in The Discipline of Market Leaders: Choose Your Customers, Narrow Your Focus, Dominate Your Market : 1) Operational Excellence – Lowest Cost. 3) Customer Intimacy – Best Overall Solution. Much has been written about operational excellence and product leadership, but customer intimacy hasn’t received as much attention.

Customer Intimacy, Meet Operational Excellence

Harvard Business Review

What is more important to company success, a strong external focus on customer experiences or an internal focus on effective and efficient operations? I described in an earlier post how Tesco worked for years to improve its supply chain capabilities, then leveraged this value by using deeper customer knowledge to enrich customer experiences. Bean have had lots of information about customers for many years that they have used to tailor offerings and services.

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Operational Excellence, Meet Customer Intimacy

Harvard Business Review

Most organizations continuously strive to achieve operational excellence, but they spend less effort understanding customer needs — and few marry these two sources of customer value effectively. Consider Tesco , one of the world's largest retailers with over 500,000 employees, which has spent the last three decades improving its supply chain processes, and the last two decades collecting and analyzing customer data. Customers Operations

The Lesson of the Screaming Shrimp

CO2

What are you showing your customers that might be unappetizing? If you want an objective look at your customer experience, you need another set of eyes, ears, and hands. Have an outside expert evaluate your customer experience. Business General customer intimacy dana olson discipline of market leaders ecodevMany years ago, Dana Olson and I went to a very elegant Chinese restaurant in New York. It was an intimate space with a clear view of the kitchen.

Gutting the Talent Bench

Lead Change Blog

What is your organization’s claim to fame—operational excellence, customer intimacy or product leadership? If your focus is customer intimacy, do the employees who personally excel at operational excellence and product leadership feel engaged or disenfranchised in your workplace? How are you doing in the other two areas?

The Number 1 Tip to Ensure Returns on Your Firm’s Digital Strategy

N2Growth Blog

A review of the project exposed the need for developing a mobile computing application as a means to support the newly reengineered business process; Service Delivery Project: A country-wide retailer wanted to initiate a voice of customer effort to better service and retain its customer-base. To succeed in today’s rough and tumble business world you need a solid vision for how you can “digitalize” your business.

5 Ways to Become Indispensable

N2Growth Blog

Wouldn’t you like to become indispensable to your customers? While there’s not one sure fire formula to follow to become indispensable, you can do some things to improve your chances that you’ll “stick” to your customers. Anticipate and Solve Problems Before They Become “Big Hairy” Monsters: In order to do this, you absolutely have to understand your customer and be able to empathize with their situation.

Creativity - The Key To The Challenge of Complexity for CEOs

Six Disciplines

The most successful organizations co-create products and services with customers, and integrate customers into core processes.They are adopting new channels to engage and stay in tune with customers. By drawing more insight from the available data, successful CEOs make customer intimacy their number-one priority. Better performers manage complexity on behalf of their organizations, customers and partners.

The Small Business Advantage

Six Disciplines

In small businesses, however, there are fewer decision-makers, and they’re so close to customers, employees and daily operations that they can get a sense of whether a decision is right or wrong very quickly. Customer Intimacy. In smaller organizations, a much greater percentage of employees work with customers directly. This kind of closeness to customers means the people in the company know customer issues and they can spot changing market needs earlier.

The Small Business Advantage

Six Disciplines

In small businesses, however, there are fewer decision-makers, and they’re so close to customers, employees and daily operations that they can get a sense of whether a decision is right or wrong very quickly. Customer Intimacy. In smaller organizations, a much greater percentage of employees work with customers directly. This kind of closeness to customers means the people in the company know customer issues and they can spot changing market needs earlier.

Good Cybersecurity Can Be Good Marketing

Harvard Business

” In fact, besides voicing a desire for a seamless customer experience, CMOs have been reluctant to get more involved with online customer identification and other cybersecurity decisions. Online security and customer intimacy go hand in hand. Developing deeper knowledge of your organization’s consumers may be the best way for you to simultaneously secure their online touchpoints while providing a better customer experience.

Embracing Digital Change Requires a Clear Strategic Focus - SPONSOR CONTENT FROM DXC TECHNOLOGY

Harvard Business

Operational excellence, customer intimacy, or product leadership — successful companies excel in one dimension and perform well in the others. Internal departments and employees were once seen as the CIO’s customers. Today, as they divest themselves of IT delivery, CIOs are as focused on the external business customers as are other members of the C-suite.

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Standard Operating Procedures Can Make You More Flexible

Harvard Business Review

They can actually make it easier to tailor customer experiences at low cost. Yet at the same time they use these standards as a springboard for creating unique solutions for each customer based on a deep understanding of their needs. (I I call this understanding and tailoring "customer intimacy" ). The result is a powerful combination that fulfills two customer value propositions at the same time. Customers Health Operations

Can Anyone Stop Amazon from Winning the Industrial Internet?

Harvard Business

Customer intimacy. Industrial giants have well-established brands, built strong customer relationships, and signed long-term service contracts. They’ve won the customer’s trust, which is why customers are willing to share data. Industrial incumbents have product knowledge, customer relationships, and field engineers on customer sites. Third, software subscription and license might enable customers to do self-service.

How IBM, Intuit, and Rich Products Became More Customer-Centric

Harvard Business Review

How well do you know your customers? We have shifted from a competitive landscape in which companies are more exclusively focused on external forces affecting their industries and sectors, to one that has become significantly more customer-centric. This intensive customer focus has increased as technology-enabled transparency and online social media accelerate an inexorable flow of market power downstream from suppliers to customers. Operations Customers Design

IBM at 100: How to Outlast Depression, War, and Competition

Harvard Business Review

Know your customers intimately. Newly appointed CEO Lou Gerstner logged thousands of hours visiting customers, industry experts and analysts. He then set about transforming the company to rekindle IBM's historic commitment to customer intimacy, to make the organization much more integrated, and to streamline operations. He believed satisfied, engaged employees ensure customer satisfaction and retention, and this in turn drives profit.

How Location Analytics Will Transform Retail

Harvard Business Review

It’s become an essential tool for understanding online customer behaviors and driving site improvement efforts. Despite its success online, relatively few companies with physical venues employ advanced analytics solutions that track customer behaviors in their physical spaces. As a result, most companies are flying blind when it comes to understanding their customers in the analog world. We are in the Age of the Customer.

The Potential of Geolocation for Revolutionizing Retail

Harvard Business Review

Online stores are always open and are available anywhere, have “endless aisles” and can use digital tools to personalize offers to customer preferences. Nevertheless, physical stores do offer customers a number of significant benefits, including immediacy, personal service, and the ability to offer a truly immersive experience. GPS), and data analytics to improve the in-store experience for customers. How leading companies connect with customers.

Start-ups: Before You Launch Your Product, Start With a Service

Harvard Business Review

AgilOne, a company that provides cloud-based predictive customer analytics, was founded by Omer Artun in 2006. Initially, the company relied entirely on services to get close to customers, understand and address their problems, and in the process generate revenues. Much of what the company learned about its customers in the services mode has been developed into its product, although a good percentage of revenues still comes from services.

How to Fund Indian Start-Ups

Harvard Business Review

Using IT services to generate cash and develop customer intimacy, it is entirely possible to build products. Even though interest in entrepreneurship is at its highest in India, the country has a nominal seed capital infrastructure. India has numerous small retailers and service providers who are shining examples of scrappy entrepreneurship at its best, but the information technology startups that are my primary interest typically require outside funding.

What Apple, Lending Club, and AirBnB Know About Collaborating with Customers

Harvard Business Review

The idea of “co-creating” with customers has been circulating for years, but until recently few companies effectively exploited its power or understood its contribution to the bottom line. True, customers can customize their M&Ms, build their own bikes with Trek Project One, create unique doors for their home at Jen-Weld, and design their own Nike running shoes. By leveraging customer networks and their tangible (e.g. Your customers are waiting.

CRM 11

Understanding Customers Is Everyone's Job

Harvard Business Review

Going to market effectively these days, no matter what business you''re in, means relating to customers as individuals — even if there are millions of them. retailer Tesco built detailed profiles of customers and then used these insights and a flexible supply chain to customize their products and offers. Creating products and services for market segments of one (" mass customization ") isn''t easy. They''re using tailored suggestions to drive customer loyalty.

Make Your Organization Anti-Fragile

Harvard Business Review

having sacrificed customer intimacy for increased operational excellence gains through widespread cost cutting, are well documented. Each time they regained momentum by going back to listening to what customers were telling them in store and in shopper panels, as well as analyzing data on changes in their shopping behavior. Many large, successful organizations are more fragile than they seem. They break under stress. Remember the travails of Kodak , Digital Equipment Corp.,

Win the Attention of Your Distracted Consumer

Harvard Business Review

But here are some examples of how brands are meeting the challenge: Develop customer intimacy. Every strategy begins with an understanding of your target customer. It''s not only about like-kind segmentation based on customer needs and wants; it''s also about developing a deep understanding of customers'' connected behaviors, preferences, and usage patterns. A guy walks into a store. No, it''s not the opening salvo for a bad joke.

Invest in Proprietary Data for Competitive Advantage

Harvard Business Review

One retailer develops an insight into customer behavior and others follow suit. For example, pharmacies build a patient's prescription history to better identify possible drug interactions, suggest cheaper generics, and get customers into their stores. Thus, innovators may seek competitive advantage in their product and service data; the low-cost providers on operations and process data; and those aiming for customer intimacy on customer data.

The Growing Power of Inside Sales

Harvard Business Review

We spoke with Mike Moorman, a senior leader in ZS Associates'' B2B sales and marketing practice and a leading authority on sales management, about how inside sales (which refers to sales positions done remotely from headquarters, without face-to-face meetings with clients) is transforming the way that B2B companies interact with their customers. By stages of the customer engagement process. Greater access and faster response times for customers.

B2B 8