This is the first in a series of reflections on our client work from 2022, showing our frameworks in action.
Despite increasing their marketing budget, our client saw flat sales over the previous two quarters. Growing profitability requires more than raising revenues and cutting costs. They pinned their hopes for reigniting sales on a new product launch but made one crucial mistake.
The first step of any strategy is to ensure we’re asking the right question. We use the “five whys” framework to find “The Big Why,” In this case, the key issue was leadership’s self-imposed pressure to impress the board. They were expediting the launch of a new product without understanding their customer.
Learning about customers requires consuming user-generated content on social media, sending targeted user surveys, and leading one-on-one user interviews. This work led us to the customers’ “Big Why,” which was not impressing the board of directors but uncovered a newly-emerging customer need that no competitor could meet either. This put the company one giant leap closer to solving their sales problem.
Knowing your customers’ needs is essential for a business because it ensures that the company is fulfilling the needs and desires of its target market. To understand your customers’ needs, you must observe, empathize, and listen to them. Otherwise, you risk launching a product that no one wants, costing your organization time, money, and reputation.