Are you Customer Centric or Competitor Centric?
In a recent guest post on HBR, Tara Nicholle-Nelson, explains that companies need to obsess over their customers, not their rivals. As she explains, “The question is not who your competition is but what it is.”
Your competition is any and every obstacle your customers encounter along their journeys to solving the human, high-level problems your company exists to solve.
Nicholle-Nelson goes on to articulate that companies need to change their thinking from selling a ‘product’ in a one-time transaction to selling a ‘transformation’ from the “status quo to the new levels and possibilities“.
In turn, your customers are everybody whom has the “problem your business exists to solve”, not just somebody whom has brought something from your previously.
As Harvard marketing professor Theodore Levitt once said: “People don’t want to buy a quarter-inch drill. They want a quarter-inch hole.”
You can read the full article here.