the last issue I shared the opportunity window that occurs when
customer satisfaction dives. This window opens because (a) new
opportunities are generated by the desire to have things different than
they are, and (b) market recognition of the new opportunity is weak.
There are three primary strategies for leveraging
challenges in the marketplace. This issue covers the first: Address the constraints
your customers are experiencing.
example, a colleague of mine is executive director of a Florida real
estate association – her members are realtors. When the bottom fell out
of the local market most lost all their income. My friend quickly
realized that her customers needed money for survival and so she became
in job training for occupations easily picked up by
realtors. That not only generated revenue, but also established
her organization as a source of much needed education. She built a good
deal of trust
and appreciation among her members.
Then came short
a trend most in her industry were repulsed by. Because of the distaste,
market recognition for the opportunity to educate people was
weak. She jumped on
it, quickly establishing herself as an expert on how to conduct a
short sale. She began educating not only her own customers, but
who needed to understand the process – reaching a national audience. As
a result, her organization survived a downturn that killed most of her
As a result she has outlasted her competition,
increased her market
penetration, and established strong ties with
her client base. She is in the best possible situation to ride the
recovery regaining lost profit and blasting competitors new (and what’s
left of the old).
- What challenges are your customers
- What do they most need help with?
- How can you use the current situation to expand
your assets including trust, new customers, and value creation?
When you address the constraints
your customers are experiencing, you stand to gain.
Next week, I cover the second of the three
your core competencies to adjacent markets.
Is Bob Dylan washed up? I think not.
my latest on the artist in the Washington Post, my reaction to a
recent critic’s piece in the WSJ.
Here in the USA this is Christmas week and the
of good will is in the air. May the holiday season enrich you in all
ways and make the world a better place for you and everyone whose path