Everybody is innovative – but who lives it?
By bringing in your customers continuously in your business processes, their ideas and wishes will be a tool to prioritise what your business should focus on. It forces you to view the world from the customer’s perspective. It is grounded upon that your company is innovative, and actually lives it.
Get to market quicker
Customer involvement does not require more time, but challenges your usual way of thinking. It does sound difficult and time-consuming to include insights from your customers in your business. In reality, it’s a method through which you can get new projects to market quicker.
Reduce development time and cost
If, instead of waiting until the product is 99% done, you continuously gather customer insights when you’re developing a new smartphone app, it’s not unusual for the development time to be cut in half. The development time is shortened because you hit the mark the first time around, avoiding internal opinions and hidden agendas in the organisation. The customer experience always wins over any other opinion in the meeting room.
You can’t afford to not include your customers. Businesses who actively include their customers lessen the risks of failed projects, failed product launches, and failed campaigns. But for this to become a reality, an organisation which usually makes its own decisions has to open up to the importance of their customers’ needs when making decisions.
Walk in your customers’ shoes
Use less time on market analysis and look at customer behaviour instead. Demographic target groups, market shares and competitor positioning is all well and good. But it will always be beaten by customer behaviour. You have to know what your customers say, think, and do with your product in their hand. You have to know their needs. Otherwise, you will be left behind. For example, see Saxo Bank case.