What Vendor-Centric vs Customer-Centric Would Look Like on a Date!

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This Guest Blog provided by Kia Puhm first appeared on http://www.kiacx.com

Last week I wrote about how my client was reverting back to a vendor-centric approach to drive increased adoption and usage of their products.

As we looked to develop the playbook to support their channel partners in the integration of the products, as well as enabling them to sell, train, deploy and support their customers in the usage of the solutions, we fell upon an unlikely analogy; a first date.

What would a vendor-centric versus a customer-centric approach look like on a first date between the vendor and the customer?

Vendor-centric approach

In a vendor-centric approach the vendor would focus on getting the customer to understand everything about them.

They would talk all about themselves sharing what they have to offer the relationship (how great they are and how the customer will benefit by being with them), everything the customer needs to know about them (i.e. the “product”), how they operate (so the customer can figure out how best to interact with them), and what the customer needs to do in order for the vendor to achieve what they want out of the alliance.

The vendor would, unintentionally, neglect to ask the customer what they wanted out of the relationship or understand what they like and dislike in order to know what makes them “tick” and want to go out again.

The vendor’s focus would be predominantly on obtaining its own objectives, but they would genuinely feel that they had the best interests of the customer at heart.

Customer-centric approach

In a customer-centric approach the vendor would focus on understanding the customer to see how their mutual interests could be aligned to develop a mutually beneficial relationship.

They would listen to the customer learning about what they want to achieve (so the vendor can figure out how to best support the customer obtaining their goals while achieving its own as well), how they operate (to figure out how best to interact with them and make it easy for the customer), and understand what they like and don’t like (i.e. what is the best way to motivate them) in order to generate excitement about the relationship.

The vendor would use that information, along with its expertise and what it has to offer, to purposefully outline ways to create a mutually beneficial relationship, building trust and confidence from the get go.

The vendor’s focus would be to align the interests of both parties, knowing that long-term relationships are created and expanded when both receive value from the.

Would you want to go on a date with the vendor-centric vendor or the customer-centric one?

A goofy analogy to be sure, but it certainly drives home the point of how goofy we as vendors act when it comes to driving adoption using a vendor-centric approach.

Bottom Line

Understanding the customer and aligning their business interests with a customer-centric, prescriptive approach to realizing value from the vendor’s products is the fastest and most efficient way to product adoption.

Ultimately this leads to value derivation for customers, which in turn leads to customer retention and expansion for the vendor; a match made in heaven and one that lasts and grows!

Check out CEO Insights on Value Realization from Customer Success! also from Kia Puhm at http://kiacx.com

 

#CustomerExperience #Customers #Strategy

Please see our other blog posts at https://supplychaingamechanger.com.

Selected as one of the Top 75 Supply Chain Blogs on the Internet.

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Gartner’s 2017 Top 25 Supply Chains List!

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Blog post provided by http://argentus.com.  Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

 

Every year since 2003, at its Supply Chain Executive Conference in Phoenix, Arizona, technology research firm Gartner releases their list of the Top 25 Supply Chains in the World – a list highlighting the industry trends and major players that define what makes a best-in-class Supply Chain in today’s business environment.

Last year, we were happy to have a chance to speak with Gartner Global Executive Partner Michael Massetti about the rankings. Though Gartner released its 2017 Top 25 Supply Chains List in May, we were glad to have a chance to catch up with Michael and chat about this year’s rankings: what were some of the big surprises from this year’s list? Which trends are taking off among the industry leaders?

Read on to find out some of Michael’s insights about what makes for the best-of-the-best when it comes to Supply Chains in 2017.

Continue reading “Gartner’s 2017 Top 25 Supply Chains List!”

Industry 4.0 Ecosystem (Infographic)

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Infographic provided by Gary Faraci.

 

Industry 4.0 involves leveraging the latest technologies, digital capabilities, the unprecedented dissemination of IoT (the Internet of Things) and the incredible ability to tap into data anywhere and everywhere in the Supply Chain.

The level of digital connectivity across the entire End-to-End Supply Chain, from customers through to manufacturers, distributors, logistics companies, and suppliers of all kinds enables this forward leap to an Industry 4.0 world.

Continue reading “Industry 4.0 Ecosystem (Infographic)”

Our New, Flexible Workforce! Are You Reaping the Benefits?

Gen Z Vs Millennials Tony Giovaniello - Photo

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The World Has Changed!

Economic realities, the concern for our environment, and the digital transformation have reshaped our views of almost everything in life, including our work lives. Since the early 90s, when IBM had its first “layoff,” companies have become more comfortable with matching expenses to revenues by deploying new employment models.

Continue reading “Our New, Flexible Workforce! Are You Reaping the Benefits?”

Industry 4.0 – Smart Manufacturing of the Future! (Infographic)

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Guest Blog post provided by Rob Memery at http://www.2flow.ie/logistics.html

Since the term Industry 4.0 was first coined by the German government in 2011 it has steadily gathered pace and interest from companies across all industries.  This infographic from 2Flow takes you through how much it has grown and how much it is expected to grow in the years to come.

Industry 4.0 is a far cry from what has come before it and data analytics is at the heart of it.  In all supply chains, companies are always looking for ways to make it more efficient and digitization is more often than not the answer – which makes Industry 4.0 the answer.

So what can Industry 4.0 accomplish? It is all about connection and it can connect all areas of your business to improve their efficiency. Use real time data to satisfy customer demands, see weaknesses that exist in equipment with data from thousands of sensors and data points, ensure timely replacement of parts and avoid production downtime. This is just some of what Industry 4.0 can accomplish.

Like with anything, there are many challenges to successfully implementing all that Industry 4.0 has to offer. The challenges are vast but a lack of digital culture and training is holding back 50% of companies from incorporating Industry 4.0 technologies. Just because a company is presented with evidences how Industry 4.0 can improve them, it doesn’t mean they’re going to make the change overnight.

This is why it’s so important to map out your strategy over the next five years to at least achieve some progress. Have a look at your company and get some clarity on your own digital maturity and set clear goals.

Even if you’re ready, don’t jump in too early as Industry 4.0 projects are of course expensive. A pilot project might be a good idea and if it’s successful it will make it easier to secure the funding required for a larger rollout. Find out more about all things industry 4.0 in the infographic.

 

 

Check out Industry 4.0 Ecosystem (Infographic)

#Industry40 #IoT #Technology

Please read our other blog posts at https://supplychaingamechanger.com.

Selected as one of the Top 75 Supply Chain Blogs on the Internet

 

CEO Insights on Value Realization from Customer Success!

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The following blog post was created by Kia Puhm, CEO at K!A CX.  Kia’s site is  http://kiacx.com

The Toronto Customer Success Executive Breakfast is a forum whereby local industry leaders get together over breakfast to discuss the still young and rapidly evolving field of Customer Success.

Co-hosted by Natasha Narayan and myself, and Sponsored by Gainsight, senior executives in the field of Customer Success are invited to share their knowledge and expertise amongst their peer group in an intimate and highly interactive setting.

The breakfast is an opportunity for these leaders in Customer Success to convene, exchange ideas and further define industry best practices

This past week Toronto executives were treated to a visit by Omer Rabin, Gainsight’s Head of Industry Evangelism, to review recent research findings presented by McKinsey & Companyin partnership with Gainsight.

The research, conducted through in-depth interviews with 300 enterprise CEO’s, identified their key insights on how to get value from Customer Success.

The overall findings were boiled down to eight key metrics; four of which identified where CEO’s believe the money is in Customer Success, the other four focusing on what it takes to execute.

 

Where is the money in CS?

Overwhelmingly, 95% of C-level executives believe there is a strong correlation between an integrated Customer Experience and financial value.

Very specifically, these CEO’s expect to see an average of 20% lift in retention, usage and customer satisfaction as a result of their customer success efforts.

They also believe they will see a bigger impact by focusing holistically on accounts versus individual users.

Interestingly, the CEO’s are still unclear as to whether or not Customer Success will bring any potential cost savings to the organization, presuming only a 10% savings.

The question on the table is no longer whether customer experience matters but rather how does an organization functionally align itself to execute and deliver this integrated experience.

What does it take to execute?

With the question of how to execute firmly on their minds, CEO’s believe the following four elements are key for executing and realizing value from Customer Success:

Centralized accountability and governance drives a big lift (2.5x) in value.

That is, someone within the organization needs to own Customer Success and drive it organizationally to ensure an integrated Customer Experience strategy is executed.

[Note: I wonder what the research found, if anything, about the concept of Customer Experience needing to be a cross-functional endeavour across the organization to be fully effective?  That is, while CS should be managed centrally, I still strongly believe that the alignment of efforts across the entire organization is required to holistically drive customer success.]

Customer onboarding of the product and the product experience itself are hands-down the top two most important factors in contributing to the customer’s success.

And 85% of the CEO’s interviewed felt that there needed to be stronger KPI’s (key performance indicators) and link to value in order to effectively measure the impact of Customer Success.

The most interesting element that CEO’s believe, in executing Customer Success to drive value, is that they expect to realize it from their CS efforts within less than 6-12 months.

Which has interesting implications for those running, or operating within, Customer Success.

Your CEO’s strongly believe they will realize value from Customer Success, that you are primarily responsible for achieving the results, and that you have potentially less than 6 months to do so (less than a full, annual renewal cycle).

Needless to say, this precipitated a very lively discussion amongst the group!

In addition to the cathartic benefits of group empathizing, folks were able to share their experiences and best practices in handling the expectations of their CEO’s.

All in all, an interesting insight into what CEO’s are thinking and what we, as Customer Success professionals, can do to continue contributing value to the business and, while doing so, how best to manage expectations in order to effectively execute.

Check out   It’s Time to Welcome The Supply Chain CEO!

#CEO #Business

Please read our other blog posts at https://supplychaingamechanger.com.

Proudly selected as one of the Top 75 Supply Chain Blogs on the Internet.

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It’s Time to Welcome The Supply Chain CEO!

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Blog post provided by http://argentus.com.  Argentus is a boutique recruitment firm focused on Supply Chain and Procurement.

 

Anyone who’s been paying attention knows that Supply Chain Management has emerged from its status a back-office function to become a major strategic differentiator for business.

Over the past few decades, companies have realized that the way they bring products to market – from sourcing parts and services, to manufacturing, to shipping, to distribution – isn’t just a practical necessity, but an avenue for competitive advantage.

For example, we wrote recently about how Amazon’s purchase of Whole Foods Market represents more than a new stream of brick and mortar business, but the possibility of improving its last mile delivery – the so-called “Holy Grail of Logistics,” and therefore gaining a further leg-up over its eCommerce competitors in the grocery category.

Continue reading “It’s Time to Welcome The Supply Chain CEO!”