Is Your Senior Team Disconnected from Your Customers?
Are your customer’s getting ready to divorce you? Cheating on you? Are you paying them enough attention? The “market disconnect” occurs when the senior team’s time is consumed in addressing operational issues leaving little or no time for market facing activities. Middle managers should be empowered and equipped to handle most operational issues while the senior team must spend most of its time in the industry and on customer facing activities.
This will keep them aware of shifts and trends in the market and the pulse of the customers. The collective knowledge gained and analyzed uncovers new opportunities for growth in the form of new products, improved processes, adjacent markets or geographical expansion possibilities. The senior team must know what their core customer needs and is willing to pay for before the customer knows.
Market, industry and customer engagement by the Executive team is key to growth and profitability and it can’t be left just to the Marketing department. The unique power comes from combining the variety and richness of experiences, ideas and perspectives from Sales, Marketing, Finance, Engineering and Operations to come up with profitable solutions to tough industry problems.
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