- Customers do not want products that are complex or not meeting their needs.
- Immature product launches hurt long-term business growth.
- Silo mentality leads to inconsistent customer experience.
Products with too many features, oftentimes, are not what customers want. Organisations should focus on delivering what customers value most and at the right time. Prototypes and pilots generate customer insights and improve ideas from the beginning of the development cycle. Launching immature products or services could have long-term impact on the business, while silo mentality could result in inconsistent customer experience.
Customers expect organisations to excite, innovate and deliver quickly in order to meet their needs. It doesn’t mean they want a perfect solution from you, at least not right away. Therefore, instead of aiming at feature-rich solutions that are possibly beyond your capabilities, organisations must focus on understanding and delivering what their customers value the most.
Build solutions that customers want
A relevant and impactful product or service is what customers want, as it delivers immediate customer value. It requires organisations to look at what customers really need from an outside-in view, instead of an opposite, inside-out view in which organisations imagine they know what customers need.
A risk of an inside-out view is that organisations may end up developing features or services that are not needed in the first place. They produce products or services that are supposed to address a very diverse range of problems, but are too complex to be adopted by customers and staff.
Deliver the minimum
Therefore, sitting on data is not enough, organisations must interact with customers and staff in order to find out their unmet needs. Fulfilling those unmet needs is to unlock value for customers, and to avoid producing solutions that are wanted by nobody.
When organisations aim at delivering the minimum, they are able to generate value quickly while learning what works and what doesn’t. These insights ensure the final product or service to meet the needs of the customers as well as to generate real business value.
To make the best use of internal and external data, organisations should align the data with the customer lifecycle, not the sales or product cycles. That way, the resulting customer insights give you a competitive edge. You are then able to create the right solutions for your customers and the market in general.
Don’t be greedy
Customers accept that product or service failures can occur. Perform above expectation by making them feel taken seriously while resolving their issue to their satisfaction and you are performing above expectation. Customers that have experienced a well resolved service failure are more loyal than customers that have never experienced an incident. Using incidents as an opportunity to construct relationships, contributes to customer satisfaction and loyalty.
Teams do not equal collaboration
The key to delivering value is to focus on things people need right now, and deliver high quality, simple things that meet these needs. This helps build customer trust, but also enables organisations to incrementally fulfil new customer needs. Importantly, it also avoids complication, which forces businesses to focus on delivering things that people will actually be able to use.