James Black shares the first post in a series that explores the development of customer understanding in 2020.
To kick off the new year, I suggested ‘20 Questions to Help Your Brand or Business See 20/20 in 2020.’ To help brands and businesses assess the state of your business and identify opportunities, I wanted to take a closer look at the topic of Customer Understanding.
Developing a deeper Customer Understanding is helpful to identify opportunities to strengthen your business. If you didn’t enter the New Year feeling like you had a deep understanding of your customer, here are some tips on how to quickly build your fact base. At P&G, business understanding always began with a robust “WHO” Understanding – that is, the consumer who used the product and the shopper who bought it.
Questions asked and explained include:
- Do we have a clearly defined target customer?
- Do we have a clear understanding of the end benefit the customer is seeking?
- Does our offering fit with his/her desired benefit?
- Do we understand the customer’s unmet needs vs. current offerings?
- Are we conducting the right mix of research (qualitative and quantitative)?
- Do we prioritize what we do (and don’t do) and what we invest in (and not in) against customers’ needs?
Read the full article, Seeing 20/20 in 2020: Part 1 – Customer Understanding, on LinkedIn.