Well now, I am always proud of the work we do at IBGR, otherwise you wouldn't hear or see it. As we built today's show and implementation plan, the title of the show changed.
If you build a data based relationship with core customers using these tools it will be a defining competitive advantage for your business - I promise.
The implications are beyond the insights and tools, it is about a new type of relationship where their success is yours.
Once the new product / service has been built in beta form, the final step is understanding how it performs for the customer.
Using the data collection processes previously established, how well does the new offer perform in the areas of promised results and user friendliness - UX
Bring the customer inside your product / service development process to ensure you are building something they will buy. The product or service of the process is obviously the objective, but there is more. Usually this is the first time that you and the customer have really worked collaboratively and it presents an excellent opportunity to upgrade the relationship, to take it to another level.
Today's show is all about process.
Today's show is all about Agile as a project management tool, and second how to use it in New Offer (Product or Service) Development.
It is the ultimate co-development tool - when you need to build something when the characteristics of the offer are unknown. Agile is a complete process for Exploring an Idea, Designing & Developing it, and Testing the Beta Version prior to release.
Once you have helped the customer by transferring your technology it is time to trade - what do they do better than you.
Additionally you need their help in the new product / service development process. In order to run a D&R (Development & Research) process, you cannot build on spec - you need customer involvement in the process.
Do you really understand what the customer thinks? Do you know how the customer experiences all of the touchpoints they have with your business? Last week we covered helping the customer with process improvements, this week is all about helping them improve their customer relationships.
S9 E21-24 (Building Success Habits) Relax Your Way to Success
Londina Cruz & Donna Kunde - “Building Success Habits”
IBGR.Network...The World of Business at Your Fingertips
Relax Your Way to Success
Worry, anxiety, stress and “busy” have become accepted as a necessary part of the world we live in. But our programming was not meant to work this way. We could achieve so much more and relieve ourselves of these negative feelings by relaxing and allowing ourselves to perform the way we were created to by using our built in Creative Mechanism.
Given your moves to improve the cost picture of the business, it is time to share how those cost reductions were achieved without affecting product or service quality. Since you are using a systematic approach to achieve LCP (Lowest Cost Producer) in comparison to the competition, there shoud be a report produced. Share it with the targeted customers how you were able to lower their prices and see if they are interested in obtaining the same with your support.
This is about taking the customer relationship to the next level. Your company has developed specific areas of competence that the customer might not possess and provides an opportunity to share and help customers to learn from your experience.
The third element in building and maintaining an effective customer relationship is having the right people with the right personal characteristics with sufficient authority to solve problems. Based upon expectations created in marketing and sales, your personnel must demonstrate they care about the customers business and aspirations or problems you are here to resolve. During their interactions with customers, they need to be emphatic in emotionally charged situations - deal with the emotion first, then move on to a solution.
When Delivery on Promise fails, your Recovery process becomes paramount. It is the opportunity to show how service oriented the firm is, as long as it is not an ongoing situation; it will destroy your reputation and become financially unsustainable. The marketing and sales processes create a set of expectations on how important the customer's business is to you, what results can they expect from purchasing the offer, and how easy the offer will be to use or consume.
The most critical issue in customer service is the initial delivery of what the customer purchased - does it perform as sold? How user friendly is it? Was it delivered on time? Is the value worth the price? Many times in the sales process, marketing and sales overstate results gained from purchasing, delivery date, or features. This creates a situation where the customer will feel deceived or cheated when the product or service is delivered; there is usually no reasonable recovery that will hold this account or recovery that is affordable.
The essence of all business relationships is data. That includes quantitative (numbers) and qualitative (feelings) to build a complete picture of the relationship. Most businesses, the large included, focus on just one. However, both are required to tell the story of the customer's relationship with the offer and doing business with you. Later on, when we discuss how to gain the customer’s support for improving the offer or creating a new one - this is essential.
All the evidence is the United States, and therefore the world, is on the edge of a recession. This is a fact that business owners don't control, except in response. Using the perspective of managing the business based on the economy, there are two rules: in a (1) contraction - strengthen your core to (2) gain a multiple in the next expansion from processes under control and therefore better margins.
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