Customers can be fickle. Their tastes or interests can change quickly. For business customers, changes in their markets and their businesses can lead them to behave differently when it comes to buying your products or services. Careful monitoring of customer trends and reacting quickly to them is a large contributor to your strategy's success.
- Customers can be fickle.…Their tastes or interests can change quickly.…Consumers can change fast,…but business customers can change even faster.…For business customers, changes in their markets…and businesses lead them to behave differently…when it comes to buying from you.…They may miss their earnings targets,…they may experience a merger or acquisition,…or deal with a large regulatory event.…That's going to change their buying behavior.…Careful monitoring of customer trends…and reacting quickly to them…is a large contributor to your strategy's success.…
My firm provides training services.…Most of what we do is in-classroom training…for large corporations.…We've been looking at trends in our market.…There haven't been any major shifts…in the way training is delivered.…But we've also looked at our customers' markets…and understood what's going on with them.…They've faced increase cost pressures.…They're trying to do more with less.…They have less time to dedicate…to training in the classroom.…This has led us to shift our strategy.…
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- Identify common failure points in a strategic plan.
- Explain how to align compensation with strategy.
- List indicators of underfunding your strategy.
- Describe behavior that can harm strategy execution.
- Define strategic filters.
- Explain how to react to major shifts in your customer's market.
- Identify key metrics for assessing strategy.