November 6, 2009Doug Hadden
FreeBalance Showing Substantial Growth
At least that’s what the press release says! We don’t always use the blog for self-promotion. So, there is no reason to start now. It may be more instructive to our readers to provide some insight into how “Company growth since 2006 shows dramatic increase in size and scope of implementations worldwide.” Especially in this economic climate. In a global market.
Here’s a summary of our success blueprint:
- Increasing implementation scope is accomplished when companies adapt products and services to meet customer needs. Many companies have an “inside-out” approach where they define the “full product offering”. Often the product scope is defined by your home market. Global markets are different. Product and service roadmaps will need to adapt.
- Increasing implementation size is accomplished by focusing on the customer problem – to identify how products can be adapted quickly to support the local condition. This global/local or “glocal” approach can be supported by agile companies. Pricing needs to suit the local conditions and the country context. And, there is no short-cut: companies need to be experts in the domain.
- Increasing customer retention is accomplished through restructuring with a customer focus. This is a relentless exercise that requires improving support processes. It also requires focusing on what is important to customers.
- Long term success means customer innovation – helping to recognize the trends like social networking and leveraging customer steering committees. Recognizing the strategic inflection points in your market.
- Culture change needs leadership. The kind of leadership that moves a company to customer-centric and then to become a For Profit Social Enterprise (FOPSE). The company cannot be committed if management is not committed.
It also helps to be the best at what you do, and to continuosly learn to improve customer success rates.