Every company wants a magic elixir that makes employees happier, profits higher, and the outlook rosier. According to leading business strategist Charlene Li, that secret sauce is growth. When a company is focused on growing, customers and employees are excited and enjoy an upward spiral. But in order to grow, companies need to be willing to take risks and go outside their comfort zones. Growth and meeting customers needs need to play a critical part in an organization's strategy. Companies that take risks tend to have better customer experiences. Think about it—customers will more naturally want to shop from a brand that is new and finding the best ways to meet their needs instead of a company that is stuck in the past and hasn't updated its products or practices in decades. In order to take calculated risks, companies must build the growth mindset into their company under the direction of top leadership. The speed of change depends on the industry, but companies should strive to keep up with the fastest moving customers they serve. For fast-paced tech companies, that could mean new initiatives every few months, while other manufacturing companies might take a big risk every few years—it all comes down to what your customers want and expect from your service. Part of growing is always finding customer solutions before customers even know that's what they need. Charlene points to the example of T-Mobile, which talked to a number of customers about their mobile experiences. A common thread was that cell customers hated their carriers, no matter who that carrier was. They didn't like being chained to a contract and limited in what they could do. With that in mind, T-Mobile took the risk to create the Un-Carrier strategy that has been successful for the company. If T-Mobile didn't have a growth mindset and a strategy of listening to customers and thinking about the future, they would have missed out on a huge way to set themselves apart from the competition. Customer experience is also affected by how companies are organized. In many cases, it can be helpful to have a single person serve as the Chief Omnichannel Officer to bring together the various call centers and customer technologies. This is especially important early on in a company's customer experience maturity when one person needs to hold the organization's hand and set the tone for interacting with customers. As things grow and develop and the strategy becomes more engrained in the organization, that person can act more like an organizer to bring together all of the aspects of customer experience instead of being expressly in charge of every detail. No matter the size of the company, everyone needs to have a customer-centric mindset that helps them do their part to create a strong customer experience. Understanding where your company is today and where it needs to be in the future can help set a strategy that encourages customer interaction. Charlene suggests creating a customer advisory board and inviting customers to be open and honest and what the company can do better in its customer interactions. Staying one step ahead of the competition and always keeping an eye on the customer can lead to tremendous growth and success, but it doesn't happen overnight. Instead of being distracted by things that don't really matter, companies need to create strong strategies to guide their actions and meet those unseen customer needs.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related