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Extending the demand for customers into two areas

Customer Strategy Consulting - Creating a demand for customers

Customer-focused companies outperform the market five-to-one. For these companies, the customer perspective is in demand and the customer strategist in charge is, as Seth Godin would say, a linchpin.

While there is a demand for the customer perspective, there are two areas where the demand should be inherent, yet oftentimes it’s overlooked. These are:

Corporate Development
– When considering a merger & acquisition, companies often fail to invest in the single biggest and most valuable asset  – the customer base.
Walker has an approach to leverage the customer perspective from the target company to help inform the acquisition strategy. The approach helps the buyer manage risk during the due diligence phase and accelerate the accretion of value post-acquisition.

Product Development 
– In the MIT Sloan Management Review article titled, "Giving Customers a Fair Hearing," authors Anthony Ulwick and Lance Bettencourt state that "… not even 5% of the companies said there was agreement within their company as to what a customer need is." They discuss how this lack of understanding impacts the innovation process.
Companies need to improve how they are leveraging the customer perspective when assessing the market potential for innovation efforts. This will help companies prioritize innovation initiatives, avoid wasting resources on improvements that aren’t necessary, and improve the success and speed of their initiatives.

Customer focused leadership creates a demand for the customer perspective throughout all facets of the business. Is your company leveraging the customer perspective during mergers and acquisitions due diligence and product development strategies?

About the Author

Leslie Pagel

Leslie Pagel

As vice president of customer experience, Leslie is responsible for incorporating the voice of Walker’s customers into the solutions development process. To do this, Leslie spends the majority of her time interacting with Walker account teams, clients, and prospective clients to understand their business challenges. She coordinates several listening posts that are used to drive strong client relationships and enhance our consulting and technology capabilities.

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