How do you create a company like Apple? How did Best Buy turn things around? Who finally figured out Americans really wanted bag salad??
The answers to all 3 of these questions lies in understanding your customers deeply, according to an insightful book by a Harvard author.
What do you think–is he right about how we achieve connection? About how we innovate? Is this really the way out of economic decline for America?
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Great interview. I only disagree (@8:30) with the conception of the iPhone. Apple doesn’t ask people who the problem is.
As Joel Roberts says “You wanna make good money? Have people tell you their problem. You wanna make great money? You tell them their problem!”
Apple makes great money!
Hi Jeanne,
Thanks for bringing this excellent interview to our attention. I think he has hit the nail right on the head. And I’ve seen many marketing programs achieve history making results because companies owned their markets’ problems.
There would never be a need for sales professionals or marketers if people didn’t have problems . . . lots of problems.
The key to succeeding in business today is in understanding the problem(s) your prospective market place face(s) — hopefully better than your prospective client does. This is where you have to start in today’s world if you want to build a business that is sustainable and has longevity.
The grandfather of modern management theory, Peter Drucker said, “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”
Your best marketers ask their prospective and existing customers again, and again and again what they want, how they want it, and how they’ll know they’ve gotten what they wanted until their product or service fits them and sells itself. And they never stop asking because the target is always moving.
The quickest way to achieving the goal Drucker sets for marketers is to use surveys that have been scientifically designed to elicit information that goes to the heart of the market’s or prospect’s “fundamental human desires,” builds trust, creates a strong relationship, and bonds people to your company because they realize the depth of your caring and concern for them.
As we both know, under the circumstances described in the above paragraph, they’ll be happy to spill their guts to you, and provide you with all the insight you need to dominate your market.
Obviously, you have to be able to deliver; however, fulfillment is never that hard if you understand what your prospect/customer truly wants. And Ranjay Gulati gives us a wonderful example in Apple that virtually anyone can emulate in today’s global market. You don’t have to do all the work yourself, and there is still plenty of money left for the person or company who solves people’s problems.
Looking forward to your next post.
Joe