Will Humphrey posted on LinkedIn (11 January 2024):
« True customer-centricity is vanishingly rare; it’s not just about pleasing your current customers through the lens of a large research department, or relying solely on ‘gut feel’.
In fact, those pesky current customers often get in the way from ensuring your business is healthy in the long term. I put it to you that focusing solely on your current customers is a trap – a sacred cow you’ll need to see beyond to understand who your future customers could be.
What might your buyers need from your brands and business in 2, 5, 10 years’ time? »
In a related post titled Slaying the sacred cow of Customer-centricity, he writes:
« On one hand, they’re told “The customer isn’t a moron, she’s your wife” (David Ogilvy) – in essence, treat potential customers with total respect! Never regard them as idiots! Be thoughtful, and treat them with care! Make everything as tailored as possible…?
On the other hand, there’s a school of thought which decries customer intelligence: “Customers don’t know what they want until you show it to them” (Steve Jobs) »
« Either companies build great internal cathedrals to customer insight, dedicated to understanding these rare, mysterious creatures known as customers. Or, selected senior people ‘go with their gut’, ignoring any indicators and just do stuff, endlessly A/B testing to see what works.
Interestingly, both approaches lead to organisations describing themselves as ‘customer-centric‘.»
« true customer-centricity involves a balance of both. »
« Where the value is, in short, might not be with existing buyers. It might come from the share of a rival, or from an entirely new category. Truly customer-centric organizations balance listening and acting upon the here and now with planning for the future. »
« What’s essential to keep the lights on? What understanding do you not possess which feels like it will inform the next 2 to 5 years? What would you like to know about people who may buy you, or an adjacent market that could be very important to the long-term health of your business?
How else might someone enter into a market in the next 5-10 years? Will people still buy stock cubes in the same way, or will there be a shift? Will your product still be formulated in the same way?
It’s very easy to decry brands testing in market, but if there’s a sound commercial logic to it, why wouldn’t you test, or place a bet, if you could? »
« Having a vision inherently means thinking long-term, with your ultimate customers in mind. »
Articles of Interest 