These changing market conditions have destroyed the effectiveness of traditional top-down driven growth strategies. Making lip service commitments to being “customer centric” has become a dangerously unsustainable position.
With many more options available to customers and prospects, including providers in low cost countries, the battle for growth in today’s market is centered around providing differentiated value in a compelling way that generates a “pull” demand and a sustainable customer relationship.
The key to success in this battle is to understand what customers and channel partners outside the firm value most and how to enable the company to deliver the products and services that will satisfy their expectations. The problem in most companies is that layers of insulation obstruct the flow of critical market intelligence and filter the information that does get through so that senior management rarely hears the straight story from the market. Opportunities to improve practices or grow the business thus never surface – or surface only after a customer is lost or a competitor gains a foothold in an attractive new market segment.
We have developed a tailored approach to capturing this unfiltered outside perspective and incorporating it as a fundamental component of our analysis of growth opportunities.