Accenture recently surveyed approximately 1,500 B2B executives in 13 countries and found that:
- 85% recognized the importance of customer experience to their overall revenue strategy
- 76% felt they were wasting more than half their investments on ineffective initiatives.
- More than 50% of these companies reported that their efforts had little or no positive affect on customer retention *
A few years ago, I sat down with the leader of a well known CEO Membership Organization to ask why leadership at the very top was not more involved with “Customer Insight/Knowledge/Research”, or whatever you want to call it.
His response: “As much as I’m all for being “Customer-centric”, you’ve got to understand what’s on my plate on a daily basis: Legal Issues, Human Capital Problems, Mergers and Acquisitions, Stockholder concerns, our Financial Performance….it’s just not that likely I’m going to sit down and read some statistics from a customer survey”
I had to appreciate his candor…and my frustration. With decades “in the trenches” of measuring, understanding and monetizing Customer Knowledge, I’m more than aware that the hardest mind to capture is that of the CEO…..in the “fog of war”.
As Customer Information hunters and gatherers, we need understand and deal with the realities at the CEO level….there is a menagerie of with most CEO’s which we need to face if we are going to have any chance of fitting into that busy agenda.
When CEO’s do address Customer-centric issues, they tend to have plenty of questions: What is “Customer Insight”, really? Do we need it? What good has it done us? What should it do for us? How do we get it? How do we use it? How much should I/can I be concerned about it as a CEO?
These are good questions for any CEO to be asking and for Customer Insight Practitioners to constantly revisit.
This blog is a landing place for decision makers who have a need to better understand their customers in the B2B space. Getting solid, reliable information on why the Business Customers we serve “do the things they do” has been a career journey for me.
I invite those whose decisions depend upon on accurate understanding of business customers to participate, contribute, and hopeful learn from what this site has to offer.