AMPLIFY CONSUMER DEMANDS

Gartner states in their research that the stakes are high to understand customers, which begins by being able to identify differentiation and what drives them. Respondents to Gartner’s CEO survey cited “customer demands” as an external constraint to reaching their top business priority of growth. Failure to meet those demands not only impacts the actual product or offering investment; it can have a detrimental cascade that impacts the entire company.

Gartner also notes “a simplistic approach is to directly engage customers in the innovation process in order to understand their demands and increase the likelihood of success. The more complex answer is to create a comprehensive approach, differentiate customers and limit direct engagement to ensure accuracy without becoming intrusive. Companies should consider both direct and indirect engagement with balanced customer interaction for greater understanding. It is critical to understand what drives your customers and highlight the differences between them. Millennials and Gen Z differ dramatically from previous generations in how they view, and want to engage with, organizations, particularly with government agencies, manufacturers and retailers. Most notably, these generations do not distinguish between a company and its offerings, but will reward companies that share their values, offer personalized experiences and provide the ability to self-serve.”

Gartner: Amplify Customer Demands for Innovation With Active Listening and Personalization,  Michelle Duerst, Stephen Smith, Mike Walker, Michael Shanler, Ellen Eichhorn, 8 August 2018.

 

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