Your Business Wants to be the Leader
Through codesign, cocreation, and coproduction experiences, your business will be a leader.
- You will leverage opportunities that enable you to differentiate your goods, services, and experiences to create increased profitability.
- You will overcome problems that are threatening customer experiences.
- You will improve the quality of your customers' experiences, making experiences easier and faster, resulting in greater customer loyalty.
You must change the way you do business with your customers. Every customer wants things better, faster, easier, and with more value. Opportunities for new ways of doing business are everywhere, and even more so when you look at your business through the lens of codesign, cocreation, and coproduction.
- Do you see customers as a resource? Do you think your customers would make great employees? Could your customers do the work your employees are doing now?
- Are customers fully utilizing your products? Are they purchasing fewer consumables? Fewer add-ons and accessories? Are they visiting you less frequently?
- Do you want to enable your customer to do things with your products they never thought possible? Do you want to learn from your customers? Do you want your customers to customize and modify your products such that they achieve individualized experiences?
- Are you designing a new product? Streamlining an existing service? Changing the way you do business with customers?
You must change the way you do business. Problems create costs for a company, including economic costs, morale costs, image costs, and so on. Opportunities for new ways of solving problems in your business are everywhere, and even more so when you look at your business through the lens of codesign, cocreation, and coproduction.
- Do your customers often defect to the competition? Is it difficult for your customers to tell the difference between you and your competitors? Are your products becoming commodities? Are your competitors innovating faster than you?
- Is the cost of serving customers overwhelming? Can customers perform certain tasks as well or better than your employees?
- Is a new customer initiative not working? Are customers not adopting your goods and services?
- Do customers find your experiences cumbersome?
- Are some customers ruining the experience for other customers?
Your business is running well. It's stable, growing, and opening new markets. Customers are generally happy, productive, and satisfied. Is it time to milk the cash cow? Yes, and it's time to do what you do better. Don't get too comfortable or competitors will pass you by (or if your competition is sitting still, then perhaps its time for you to pass them by). Through continuous improvement of the quality of your customer experiences, you can maintain and improve your competitive advantage.
- Do you want to make it easier for customers to do business with you? What would happen if you could shave minutes off a customer transaction?
- Are your employees modeling desirable behaviors for customers?
- Are you able to shift employees from transactional roles with customers to sales and consultative roles?
- Do your various touchpoints consistently communicate the performance you desire from your customers? Are the nuances of your business aligned?