It’s a common mistake. Instinct often compels marketers to position their company – or its products or services – as the hero of the “story.” But by focusing on themselves, they’re forgetting their most important champion: customers. Same rule applies to revenue strategy, says marketing and monetization expert Marco Bertini.
When it comes to setting price, rather than take a hard look at customers and their needs, companies instead tend to take a hard look at what they sell. And in today’s customer-centric market, insular strategies simply don’t work.
“In this era of cloud computing, constant connectivity, the Internet of Things and micro transactions, it is increasingly possible for customers to pay for what they want when they want it,” Bertini explains in “Put the Customers’ Money Where Your Mouth Is” (Bloomsbury Press, October 2017) – his provocative contribution to the forthcoming Thinkers50 publication of “Dear CEO: 50 Personal Letters from the World’s Leading Business Thinkers.”
To align with the wants and needs of the market, leaders must ask more questions, says Bertini, an ESADE professor recently named to the 2017 Thinkers50 Radar list of scholars likely to shape the future of management. “Customers struggle to access what you sell? Consider a subscription plan. Customers seldom use your asset, or they only use it in part? Consider a sharing platform. Consider unbundling.”
In other words, don’t force customers to take on unnecessary risk. They’ll thank you – by giving you their business.
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