“The pace at which both consumer needs and competitive landscapes evolve is dizzying.
Colleen LonsberryFractional Chief Marketing Officer
Those not keeping a finger on the pulse of their customers’ desires risk obsolescence.”
In the not-so-distant past, marketing’s primary role was to sell a product, regardless of its alignment with market needs. This traditional approach positioned marketing merely as a product pusher. However, the evolution of marketing, especially product marketing, has shifted towards a more strategic role. Today, effective marketing involves not just finding more customers or new uses for existing products, but crucially, listening to what customers genuinely need and desire. This approach enables companies to develop products that fill unmet needs, fostering innovation and customer loyalty.
Yet, if this strategy is so effective, why isn’t it universally adopted? The answer often boils down to fear. Companies fear that customer feedback might indicate a disconnect between what they currently offer and what the market demands. What if the feedback reveals an inability to meet these needs? In multiple companies where I’ve served as a leader, this fear was palpable, often exacerbated by influential Sales or Product leaders who prioritized competitive benchmarks over customer insights. This misguided focus can lead to strategic myopia, where the fear of losing to competitors overshadows the opportunity to innovate based on customer needs.
To overcome this, it requires bold leadership from the top. Senior executives must champion a culture that values long-term innovation over short-term competitive gains. They need to encourage open dialogue with customers and foster an environment where feedback is not just collected, but actively used to influence product development and marketing strategies.
The pace at which both consumer needs and competitive landscapes evolve is dizzying. Those not keeping a finger on the pulse of their customers’ desires risk obsolescence. A common pitfall is the creation of echo chambers where companies only hear affirmations of their preconceived notions rather than genuine feedback.
To break out of this echo chamber, here are some effective strategies for gathering authentic customer feedback:
- Diverse External Insights: Engage with a variety of customers—across different sizes, industries, and regions. Include not only decision-makers but also influencers and end-users in your conversations. Don’t shy away from former customers or potential new ones; their insights can be particularly revealing.
- Inclusive Internal Feedback: Assemble a diverse group from within your organization, spanning various departments, levels of experience, and geographical locations. This internal diversity can provide multiple perspectives that resemble a more complete view of customer sentiments.
For example, Apple Inc. famously pivots around its customers’ desires, often creating products that people didn’t know they needed until they were introduced. Similarly, Amazon has thrived by continually evolving its services to address the changing needs of its consumers, from pioneering one-day delivery services to expanding into cloud computing with AWS. On the other hand, consider Blackberry, once a market leader in smartphones. Blackberry failed to heed the evolving needs of its customers, missing the shift towards smartphones that prioritized internet connectivity and touch interfaces, which ultimately led to its decline in the face of competitors like Apple and Samsung.
The principle here is simple: companies that listen to their customers and innovate based on this feedback are more likely to lead and redefine their markets. As a fractional CMO, my role is to help you align your marketing strategies with this customer-focused approach, turning insights into actionable strategies that drive long-term growth.
For those eager to navigate these challenges and capitalize on customer insights, I invite you to discuss how we can transform your marketing approach. Together, we can design a strategy that not only meets current demands but anticipates future trends, ensuring your brand remains relevant and competitive in a rapidly changing world. Let’s schedule a time to talk about your company’s unique challenges and opportunities.