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Turn Knowledge of Your Customer Into Business Success

refine+focus
Turn Knowledge of Your Customer Into Business Success
By refine+focus • Issue #28 • View online
Your customer has all the answers. The art, however, lies in being able to gather those insights efficiently and act on them effectively. 

Why getting it right matters
Sustain growth. If you care about your customer and meet their needs, you won’t need to worry about the competition. 
Save resources. According to research by Vonage, an estimated $62 billion is lost by U.S. businesses each year following bad customer experiences. By understanding your customer and their customer journey, you can optimize your business to provide the best customer experience.
Via Paco.com
Via Paco.com
Build your ability to pivot. If you know your customer inside and out, you will know how to meet their deepest needs even when situations change. For example, Netflix recognized that pre-COVID consumers liked to stream shows and have communal viewings. During COVID, Netflix developed Netflix Party as a way for people to be able to continue to do this despite social distancing.
What to learn from your customer
Learn everything you possibly can (then ask WHY). Learn about their behavior, psychology, likes-dislikes, needs-wants, what they love-hate, what they are trying to achieve and more. Above all, learn the why behind all of those behaviors and feelings.
Via Hyken.com
Via Hyken.com
How to learn from your customer
Listen with empathy and objectivity. It’s imperative that companies listen with empathy, not judgement. Learning from customers is best when companies are curious and open to learn, not seeking to justify.
Break corporate barriers and stop working in silos. Empower everyone in your organization to be obsessed with understanding your customer. Not just the frontline of sales and marketing. 
Form new habits to support a culture of curiosity. Insert the customers’ voice in decisions and continue to gather customer insight from objective surveys, interviews, and co-creation.
Capture Customer Insights and Actions with the Strategyzer Learning Card
Capture Customer Insights and Actions with the Strategyzer Learning Card
Want to learn more about the art of learning from your customers? Check out our LinkedIn Live event today (7/15/20) at 12:30 ET where our COO Purnima Thakre will be sharing her insights and experiences.
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