Market-leading growth has its challenges. Leaders can get in the way of growth by being more focused on what they want, instead of what their customers require. We can also undermine our goals by missing the emotional and logical needs of the audience. Marketing experts tend to cancel each other out on strategies which confuses those of us who have to pick a growth path with confidence. How do we create a growth premise that concentrates everything we do?
The frustration with overthinking growth led Growth Visions to borrow from a mental mammoth who had no apparent intention of applying his thoughts to business. His name was Bertrand Russell. He was a 20th century philosopher, mathematician, logician and activist. Russell said that he lived for love, knowledge and empathy for others. Pretty easy to frame your personal peace of mind in these areas and it's not complicated. Let us see how this translates into customers.
Caring * Value * Understanding = customer peace of mind
The customer narrative (to achieve peace of mind) replaces love with care, knowledge with value and empathy with understanding. A customer wants to know you care in words and deeds, bring value that meets or exceeds their expectations, and that you can speak from their point of view. Rich customer stories often employ all three of these areas to articulate why someone is a happy customer. Think about any company that has earned your loyalty. It's hardly a surprise if your favorite companies hit all three areas with excellence. Struggling companies are failing in one or all of the areas. For example, choose any company that puts you on an endless loop of phone-based customer service that never involves a live person who can help you. You can feel the CVU erosion happening while you wait.
In competitive situations, you must perform well in customer care, value, and understanding. Of course, your salespeople may think price is the reason you didn't get a customer win. But research shows it's really because the customer decided your business did not exhibit caring, show competitive value or understand their issues at a high enough level. It's an uncomfortable conversation for the customer, so they often say price was the reason. Look objectively about how your company performs in these areas against competition. You do not have to worry about hitting all three CVU areas well if you are enjoying a monopoly, oligarchy or an incredible innovation advantage. Alas, most of us are rarely in these situations. Far better to get serious about delivering care, value, and understanding for your customers.
creating a growth culture
Lee Novak, Chief Revenue Officer
Chief Revenue Officer Lee Novak on Having a Growth Culture