How Coach learned to know, not guess, what customers want.
Have you ever been blindsided by changes in your customers? Have you ever felt that half or more of your marketing dollars are wasted?
Perhaps the most insidious strategic risk is decimation of your customer base by shifts in behavior, preferences, and demographics. Customers are people: unpredictable, irrational, emotional, curious, and highly prone to change. Their priorities change from quality to price to solutions to style to brand. Every time customer priorities shift, your business design is at risk of losing a few customers, and eventually your most profitable customers. And a 1 percent loss of revenue turns into a 6 percent loss of profit: The Genius of Knowing 5 Percent More.