Henry Ford has been quoted as saying
“If I’d listened to customers, I’d have given them a faster horseâ€
While its true that it is often difficult to understand what a customer is asking for, no one should ever dismiss the fact that they are bringing the topic up for discussion. Let’s assume for one minute that Ford’s statement was completely true, did it not point out that there was a market hunger for increased speed? As a company with a social responsibility of creating profits, it is the responsibility of management to proactively seek out opportunities where there are cost effective ways to capture revenue. Henry Ford was able to use his knowledge of the combustion engine to make a revolutionary leap forward and deliver a solution to the customer’s request for a faster horse.
In order to be truly great, companies must find ways to proactively solicit information from their customers and translate those market needs into indicators of opportunity. The requests will often be expressed in the context of an incremental improvement, but often are the gateway to a revolutionary leap forward.
What’s amazing is that if a company makes a dedicated effort t
a) listen to its customers, and then
b) act on the request of its customers
the result is happy customers.
In fact, through this obvious approach, customers open doors to new opportunities. Getting to market with a winning product requires a strong product definition. The only way to achieve a solid product definition is to get and stay close to real customers in the validation process. The delivery of a good product naturally creates buzz in the marketplace, which, in turn supports the new customer acquisition, which in turn involves more customers in the feedback process to facilitate additional refinement/redefinition of the product, etc. This is the methodology for innovation and the engine that will propel the company forward.
Seth Godin offers the same perspective but states it a slightly different way. He challenges individuals and companies alike to seek to deliver the Purple Cow or the Free Prize Inside. In both contexts, Godin demonstrates how the pursuit of being remarkable and delivering value in excess of the customer’s expectations creates energy and a feedback process that enables customers to become the source of product promotion. In fact, customers happily provide the company with revenue and act as product advocates on your behalf. The opportunity, or challenge, is how a company can approach this from an operational standpoint that allows them to predictably and reliably repeat this process.
