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Posted by in Robert Craven Marketing Expert

Five-Year-Old-Itis

Five-Year-Old-Itis

95 per cent of businesses I see at the moment have what we call five-year-old-itis. Their problems are five years old; in the last five years, everything and nothing has changed. How Old is Your Business Model? 95 per cent of businesses that I see and work with are based on five-year-old business models, based on five-year-old assumptions about who the customer is, what they think they are buying and why, their competitors, and so on. What I do know is that just about every assumption you had about how customer and consumers behave/buy/pay/talk/share/discuss/choose/receive products and services has changed. With one set of key strokes I can tell thousands of friends what I think of you and your product (by Twitter/Facebook/LinkedIn). Customers have always talked – but now they can talk to far more people than ever before. Old-World Assumptions My hunch is that five-year-old-itis is endemic nearly everywhere. Just about every startup has been built on old-world assumptions about customers, channels and products. Just about every existing business...

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Posted by in Robert Craven Marketing Expert

The Service Firm Myopia You Are Not Aware Of

The Service Firm Myopia You Are Not Aware Of

There is the absurd statistic that most men believe that they are ‘above-average drivers’. They really believe that they are ‘above average’. Well, most of them do!!! Honestly…! Well, the “we are ‘above-average'” statistic doesn’t just apply to male drivers. A recent survey by Bain & Co reported that 80% of companies believed that they delivered a ‘superior experience’. So, most companies assume that they are consistently giving customers what they want. Usually, in fact almost always, they are kidding themselves. In the same survey, only 8% of the companies’ clients also believed that the companies were delivering a ‘superior experience’. I repeat, EIGHT PER CENT!!!! In other words, 72% of the companies think they deliver superior service but their clients do not think the same. Are you one of the 72% who have got it wrong? And how do you know that you are not one of the 72%? This classic delivery myopia happens for several reasons: We are too self-obsessed and fail to see the business through...

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