Empowered customers are shaking the foundations of industries everywhere. Compared to the old way of doing business, today’s customer revolution is driven by a set of self-reinforcing, customer-first paradigms.
In this new order customers set the agenda by establishing the terms of engagement; customers increasingly provide inputs for new products and services, which they assume will come personalized for them; customers expect companies to listen and learn from their everyday experiences and get respect when things don’t go as planned. In this emerging world a customer-led marketing culture can be a company’s competitive edge.
While a few companies “get it”, most still need to adapt to these unusual and fast-changing times. At such firms CMOs and other business leaders should consider several steps to develop and foster a customer-led company culture: (more…)