Business Innovation Playbook Podcast-Episode 01
In this podcast, we discuss engaging the customer in the digital world and aligning your customer experience model to the new (and younger) buyer. The following blog serves as a general outline with highlights of the podcast. Additionally, you will find links to tools that will help you get started on your journey of digital and business transformation!
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Understanding Your Customer
With greater accessibility of digital tools and generational transitions, meeting your customers where they are has never been more important. The ‘Millennials’ have now surpassed the ‘Boomers’ as the largest generation in the current workforce. Is your business aligned with the new buyer? Do you truly know what the new buyer values over her predecessor? Is your sales team aligned, or are they using the same tactics they’ve always used?
The reality is, the overwhelming majority of businesses have not taken a hard look at their sales and engagement models. While most companies will tell you that they are focused on the customer experience, do they even know what experience the customer values most? We would argue that the values many relationships were cultivated twenty and thirty years ago look much different than what the younger generation of buyers’ value.
Understanding Business Challenges
Understanding the above is critical to business growth and the importance of digital transformation. For years, businesses focused on building a better mousetrap (think industrial revolution), well what happens when the mousetrap is aided by technological advancements? Use GM’s recent announcements that they are a software company that happens to sell hardware.
Let’s take a look at Lemonade, Rocket Mortgage, Redfin, etc.… These companies are disrupting entire industries by leveraging technology to complement business processes and overall customer experience. But wait! The local bank, insurance agency, or grocery store all have brick and mortar and a human to interact with. However, truly consider when the last time was you walked into a bank. For the reason you entered, did you wish they offered a more convenient way?
Recognizing Business Opportunities
Regardless of your business, understanding your buyer and seller habits is key to sustainability and growth. The most tangible way in doing this is through quantifiable customer data and information sources. Leveraging data within your company such as accounting software, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and customer service solutions are a few information sources that should be able to tell a quantifiable story about your customers. From demographic data through buying habits and buyer-stakeholder alignment, your transformation begins with business strategy, followed by business processes and systems to complement and achieve growth.
Download The Innovation Playbook
With each podcast we’ll provide an Innovation Playbook that will outline the steps you can start taking immediately, to kick start your strategy and improve business performance. Change doesn’t happen overnight. Download The Innovation Playbook and let the innovation begin!
Episode 01 Playbook Highlights
- Understanding Business Challenges
- Understanding Your Customer
- Recognizing Business Opportunities
- Next Steps Toward Creating A Strategy
If you have questions about any topic we covered in this podcast, want to offer feedback on our discussion, or need help kick starting your strategy, contact us! We’d love to chat or meet for coffee. We love what we do, we love talking shop, and we love teaching others what we know.
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