The promise that fuels growth.
The businesses winning on growth and profitability aren’t promising the world. They’re the ones who deeply understand what promises they are delivering and to whom - now with the help of AI.
"We used to know what people bought. Now we know why they buy."
Chief Marketing Officer, Scaling Up Client
That sum's up what's changed for one client who took knowing their customers to the next level with the help of AI.
More intelligent scaling is creating value beyond what was previously affordable and achievable for this mid-sized, privately owned client.
But it wasn't always the case.
Early this year, they were struck by a brutal fact - they no longer deeply knew their customers. And this had effected growth and profitability.
The company had been really successful and growing for years, but the next phase of growth called for more.
I am not talking about the basic customer data like names, location, what they bought, perhaps an annual survey.
I am talking about the deep understanding WHO your truly most valuable customer are, (core customers), WHAT they are trying to achieve (jobs to be done) and WHY they choose your brand or company over others. (differentiators).
Great strategy, the one that drives sustainable growth, cannot be created in a knowledge vacuum!
But when you've grown to thousands and tens of thousands of customers - it becomes harder to deeply know your customers WHY.
This is the fundamental knowledge that drives strategy. And strategy drives growth.
What's more - things change over time. If you are in business as long as my client has been, new products, segments, geographies, channels grow customers, but can also 'muddy the waters'.
External factors like changing tech and consumer trends, political, economic, social and industry factors - they all may effect demand, costs or perceived value. And this effects profitability.
They went about fervently changing their customer feedback and sales intelligence from with assistance from AI. It took one person a few weeks for the first prototype, within a quarter it was up and running.
Eight months in, they have massively sped up the customer feedback loop, turning customer intelligence into a competitor advantage. Now visible in their growth and profitability.
AI is making customer feedback loops better and faster, leading to better operational and strategic decisions that create genuine value and drive growth.
Not at an annual survey presented at a strategy day - a daily, weekly intelligence loop. And this shows in their financial improvements.
Read more about what they in my latest aritcle published by CEO Magazine.
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