Make your customers know, what they want!!
Our
brain is not under our control. The utmost seat of Lateral Thinking, brain
makes everybody go into wilderness; knowingly but most of the time unknowingly. More you wander, more you go deep. This brain wilderness, help in
finding answers to many complicated questions; but sometimes it makes
everything around very confused & blurred. This wilderness gets aggravated,
for corporate citizens primarily, when one has fair understanding of business
subjects like Sales & Marketing, Supply Chain, Business Strategies, and
Finance etc. In corporate, answer to the very basic question, every other CEO does
want to know; what makes a company successful and other fail. Every subject and
more so every professional with specialized subject knowledge seems like giving
a panacea for challenges coming the way of building a sustainable-successful business
or what products can make a company successful in real sense. Benchmark could be Apple, today.
One day, on my journey to mental wilderness, I confronted the same question, what makes a company successful and other fail. It looked more complex, when I read about the ‘quantity of research’ being carried out across the globe, to know needs of customers and coming out with suitable ‘innovated’ products, continuously to meet these needs with a view to be successful. The same report says 95% of products fail within one year of their launch. Why so, when we know the needs?
One day, on my journey to mental wilderness, I confronted the same question, what makes a company successful and other fail. It looked more complex, when I read about the ‘quantity of research’ being carried out across the globe, to know needs of customers and coming out with suitable ‘innovated’ products, continuously to meet these needs with a view to be successful. The same report says 95% of products fail within one year of their launch. Why so, when we know the needs?
To
my surprise, this wilderness helped me in realizing the fact that never a
single business ever became successful just because it satisfied the needs of
its customers. Yes, there are millions of companies which claim being
successful, as they keep either manufacturing some products or providing some
services and in return, keep ‘making’ less than average EBITDA, every year. These sorts of companies do every bit to be
seen successful on their claim of earning some EBITDA.
Coming
to the question back, what does make a company successful? Knowing Customer
Needs & fulfilling them? It may surprise you, if I share that all research
available reveal that customers do not know what their needs are. Customers indeed, are not having clarity, what they are looking for, in products or product features. They are as confused as corporations. Their needs come & go. They do not stick to their proclaimed
needs. Their needs are as fluid & imaginable as their dream are. One does not have any control
on them, alike dreams. Go back in the
recent past only; did anyone know about ‘Internet’ becoming so indispensable in our
life? Today, whole world is revolving around this. Every other business is
dependent on it. You for that matter, take any product or product features that ‘created’
a ‘want’; not becoming huge success?? Did you find any, please let me know, too.
If
corporations need to be successful in real sense, then they have to move one
level up from, simply trying satisfying needs of customers. Simple customer
satisfaction can make a company earn some EBITDA but not success for sure. This
EBITDA earning mindset shall lead you for a short while, but be sure it will
also take you to your early death date.
Keeping
my thoughts intact, organisations have to come up with new product &
product features unknown to customers; thus creating or determining needs,
instead of delivering on the needs of the customers.
This
can very well be substantiated by the success story of Apple; as we all have
seen it happening in very recent past.
Steve
Jobs’ infamous remark to the question, when asked what all research went into
the development of iPad, may help you understand it more. He said, “None. It’s the not the consumer’s job to
know what they want.”
Conclusively,
defy conventional wisdom of being first to recognize and serve customer needs,
to be first in the race; but you yourself define customer needs and criteria of
purchase and constantly update them to be first today & tomorrow.
CEOs
arise & awake, what you looking for? Often, it is said, the average tenure of CEOs is three years; but sufficient enough to make a dent in the history.
Just give a required direction to your organisation and make it move in that
direction. History will follow you.
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