This is one of my favorite topics, because the economy seems to continue to accelerate, and busy people are being asked to do more while hiring lags. That's good news for the U.S. economy, but not such good news for a lot of the people cranking the gears that keep it moving.
I spoke yesterday with a friend of mine who is the president of a company. His CFO had left and taken several employees with him. It was a bitter end to a bitter economy, especially in real estate, which is the industry in which my friend works.
As it turns out, however, as he always does, my friend landed on his feet, maintained a steady deal flow, and is now growing and as busy as ever. I was extremely happy for him, because I knew how incredibly painful the downturn had been for him.
Here's the problem: In his hustle to keep ahead of his flow of work, his marketing materials still show the ex-CFO and the employees that left with him. I see a lot of this, whether it is details that have been left behind as companies scramble to keep up, or failures to understand how the company's customers' needs have shifted. And I guarantee they have shifted.
So, as the speed of business accelerates, your customers' needs are more fluid. How dynamic is your organization? Is it designed to keep ahead of the acceleration, or are you static and in danger of fading? Have you bridged the gap to make it easier and more appealing for your customers to do business with you? Now is the time to rethink how to innovate the experience your customers have with you, and to make it the reason you win.
Why? A shocking 89 percent of customers who have a bad experience will find another company to buy from. And those that get it right? They can command a 7 percent cost premium and are, on average, 12x more profitable. Think bridging the gap doesn't offer a return on investment? Think again.