Step out of the comfort zone- embrace change and drive revenues.
“A dream is your creative vision for your life in the future. You must break out of your current comfort zone and become comfortable with the unfamiliar and the unknown.”
In the past, management consultants have tried to impress upon us the importance of getting to know your customers and their needs if you want to sell successfully to them. As radical as this may have seemed when first suggested, this top-down dialogue still allowed companies to remain in the driving seat, dictating which products and services consumers were expected to buy. The new trend of welcoming customers onto a level playing field, on which they are accepted as equal partners, is a different ball game and something many organizations struggle to embrace. In this issue of the Tefen Tribune, we explore how the traditional roles in a market economy are becoming less well defined and in some cases are even reversed. We examine how to take the courageous step out of your conventional mindset and proactively engage in a more personal and inclusive relationship with your target markets.
People power has clearly become the strongest driver for success and a factor to be reckoned with on both sides of the equation. As our article Meet Your New Partners reveals, the corporate world is experiencing a thorough shakeup from inside and outside as customers rapidly establish a new role for themselves as active players on the corporate agenda, and companies realize that they need to give their staff greater insight and involvement in their corporate strategy and vision if they are to break free from rigid conventions.
Our article From Strategy to Execution taps into the value of “human resources”, explaining how to translate strategy into execution with the help of a focused workforce. The discussion in Go-to-Market Strategies for Rapidly Changing Markets takes the example of renewable energy to explain how a thorough comprehension of your corporate vision and the markets you address
can drive revenues. Employees want to identify with their company’s dream and become an integral part of it. Understanding exactly how to pursue the corporate vision boosts confidence and motivates individuals to greater commitment at their place of work.
This deep-seated need to feel appreciated is also visible on the consumer side. We can see that despite or perhaps because of the apparent freedom and impersonality of the digital age, customers want to feel part of a real community and appreciate the personal touch. One of the key success factors in this day in age is to earn the reputation of a “caring company”. Although
corporations need to be on the lookout for promising alternative sales channels, they are also advised to focus on forging that one-onone
relationship often sorely missed in today’s world. Our interview this time is with the prestigious Blake Chandlee, Vice President for APAC, LATAM & Emerging Markets at Faecbook, a company which is taking an innovative approach to corporate development, by exploring how the skills of Internet users can be invested to help business expand. Mr. Chandlee also suggests that firms can boost consumer interest in themselves by inviting the public to look behind the scenes and share in their commitment to key social issues.
Many companies assume that the way forward is to exploit digital technology to save costs and increases sales, while taking a backseat approach to customer service. This is exactly the point at which they need to step out of the comfort zone. The onslaught of social media interaction allows users to interact directly not only with other consumers, who keep tabs on companies and their reputations, but also with the companies themselves. People want not only to communicate but also to receive feedback to their queries and to be given a sense that they are of importance to the company. As our article Alternative Banking Channels illustrates, virtual business is fine when it comes to standard banking procedures but as soon as a long-term commitment or a question of trust and confidentiality arises, nothing beats the human touch and personal contact.
Companies are faced with the challenge of determining how far they can go along the personal service route before it gets too costly. Where is that individual attention best invested? In Success in the Pharmacy Channel, the author examines how companies selling medical and consumer products can address the complex pharmacy channel and provide a customized service which also maximizes profits.
From these articles, we can see that sustainable success means keeping in touch with your customer base using the channels of communication that the consumer dictates; respecting the value of consumer power and practicing a “soft sell”, by indirectly suggesting a message and whetting the appetite for products and services which complement the consumer’s existing lifestyle image. Motivated staff, who understand the vision of your company and have taken it on board as their personal responsibility and who have been provided with a clear roadmap for execution of your strategy, will identify more intensely with your product and sell it with greater integrity and conviction.
Enjoy reading!
By Dr. Heiko Frank Managing Director, Tefen Germany
