…. Probably not worthwhile doing.
We spend an enormous amount of time trying to get customers to love us and say they will buy from us in future.
Is this a worthwhile use of our time?
At best, there is a correlation of around 15 – 20% between a consumer’s stated future intent and their actual subsequent purchase behaviour. This equates to virtually no predictive value of asking consumers what they intend to do next.… Read more
If strategy is about making the right choices, then execution is about taking the right actions.
Strategy focuses on thinking; execution centers on doing, and many leaders struggle with identifying the right actions their organization needs to take. This is partly because they have been taught how to plan and not how to execute. Achieving excellence in execution requires cultivating a bias toward action across the organization.… Read more
Consumer’s today are increasingly demanding. Not only wanting high quality products but expecting high quality customer service.
Delivering superior value to the customer should be the prime concern of business Managers. This not only includes the actual physical product but their customer service component as well. Products that do not offer and integrate good quality customer service that meets the expectations of consumers are difficult to sustain in a competitive market.… Read more
Blockchain and Bitcoin; but we’re afraid to ask
There is a superb summary of the ins and outs of Blockchain penned by Nourial Roubini in the Guardian– its key thesis is that overpriced cryptocurrencies owe their diminishing credibility to an over-hyped technology.
One of the promises of blockchain technology is that it could cut out large amounts of paperwork.… Read more
The most important figures that one needs for management are unknown or unknowable, but successful management must nevertheless take account of them.
-W Edwards Deming
Last week I wrote about customer feedback, and I’ve had a question about one of the comments I made there. I said how do you assess a rating of 3 out of 5 when you ask a customer about service.… Read more