The word strategy is often misused and misunderstood. When we use the word we mean the simple definition used by the McKinsey consultant Kenichi Omhae: strategy is the intersection of three groups: customers, competitors and the company.
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Today's customers are intently focused on getting the lowest price. With advances in technology customers can compare products and prices before they speak to you. Increased competition is making price pressure more intense, with a race to the lowest price being the easiest way to win the deal. But, at what cost to your company?
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You’re looking to create the perfect customer experience, so you already have a customer survey, what company doesn’t these days? It may even be a regular annual customer survey, because you understand the importance of knowing what your customers think in this highly competitive, turbulent business world.
A recent article by McKinsey Quarterly delved into the importance of a customer feeling as though the service has been personalised for their needs alone.
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With fewer customers generating more of our revenue, we need to get better at managing our strategic relationships. Whether we call this Strategic Account Management or Key Account Management, we must get better at managing the customers we can’t afford to lose.
There is good news and bad news about managing these strategic relationships.
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We are delighted with the appointment of Steve Wozniak as an adjunct professor at the University of Technology, Sydney in December 2014. His passion and enthusiasm will bring an innovative perspective to the university.
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The business world today is changing and changing fast. Are you aware of all the changes that could affect the future of your business, both within your industry and beyond?
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One of the key messages from each of those senior executives was that their business reality is changing and changing fast, that they are dealing with unprecedented competition in their markets...
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