A Quote by Nicholas Negroponte
Companies cannot really see beyond their current customer base. They explicitly or implicitly do things to protect their current customers. And the last person to want real change is your customer. This is why most new ideas come from small companies that have nothing to lose.
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Traditional sales and marketing involves increasing market shares, which means selling as much of your product as you can to as many customers as possible. One-to-one marketing involves driving for a share of customer, which means ensuring that each individual customer who buys your product buys more product, buys only your brand, and is happy using your product instead of another to solve his problem. The true, current value of any one customer is a function of the customer's future purchases, across all the product lines, brands, and services offered by you.
Companies are bought for their revenue, customer base, technology, or people. A few great companies offer all of these, but any valuable business offers one.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
The outside-in discipline requires that you have an explicit customer-based reason for everything you do in the marketplace. Managers need to create what I call "customer pictures," verbal descriptions of customers that highlight the key customer characteristics and make those customers come alive. Although managers never know as much about customers as they want and need to know, the outside-in discipline requires that they construct customer pictures anyway, basing the pictures on whatever hard data they have plus hypotheses and intuition.
Most companies don't want their data co-mingled with other customers. Small companies will tolerate it.
Pager companies are very much looking to provide new services to help them regain some of their customer base.
New Hampshire state government is a big customer for prescription drug companies. Just as businesses do, we should take advantage of the bargaining power we have as a big customer.
In fact, I believe the first companies that make an effort to develop an authentic, transparent, and meaningful social contract with their fans and customers will turn out to be the ones that are the most successful in the future. While brands that refuse to make the effort will lose stature and customer loyalty.
What we are saying is, we've got three aluminum factories, let's work with that, we cannot change that. Why not have the Icelandic people who are educated in high-tech and work already in those factories in the higher paid jobs, why not let them build little companies who are totally Icelandic with the knowledge they have? Then they get the money and it stays in the country. Then we can support the biotech companies and the food companies and all these clusters. I think that if you want to be an environmentalist in Iceland, these are the things you've got to be putting your energy into.
Does the customer invent new product or service? The customer generates nothing. No customer asked for electric lights. There was gas and gas mantles, which gave good light.
Companies are starting to measure how effective their customer service is and trying to understand what they can do to improve the customer service process.
Many companies talk about customer success, but how many actually put the customer first above all else, always?
The payoff of a customer-centric approach to software and digital product design is substantial and long-lasting for both companies and their customers.
Let's hold insurance companies accountable the right way by making them put their whole customer base on the line.
When you think about the current present value of the fossil fuel reserves that are on the books, the current fossil fuel companies, the last time that that much wealth was at stake was when the South fought the Civil War.
If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
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