I see 2021 conjuring up great promises.
There is a sense of optimism as I see offices are beginning to open and people hitting the roads like there is no tomorrow.
The confidence to face the new world is coming back, thanks to Covid vaccine!
Buoyed by latest cloud technologies, companies are not only recovering from the turmoil quickly, but also making “resiliency” plans to beat the odds in 2021 and beyond.
I strongly believe the best is yet to come, and when it does, we need to be prepared for it.
This is also an ideal time for each of us to pause and re-examine our business strategy for the fiscal year.
For companies who are yet to close in on theirs, now is the best time to do so.
I usually find great value in taking frequent stops and asking these FIVE questions to determine if my business is headed in the right direction.
All these questions are rooted in the end-goals of delivering exceptional customer experiences, and driving subsequent growth:
1. Who are my ideal customers? Am I using the latest technologies at my disposal to gain insights into my customer demographics and their psyche?
2. What do they need? Am I using continuous, in-the-moment feedback to understand if my products and services are meeting their needs?
3. Where they can find me? Am I everywhere they are?Am I using all available channels to create and drive meaningful customer interactions with them?
4. How effective am I in meeting their needs? Am I using intelligent, data-driven insights to plug ALL the gaps in my processes?
5. How good is my timing? Am I using predictive analytics to make my products and services available to them at the right time?
Of course, the ability to extract and process these kinds of data-driven insights depends on whether or not you have intelligent technologies driving your business. Cloud-based ERP systems are exceptionally good in building Intelligent Enterprises that excel at identifying and leveraging insights gained from multiple sources and multi-layered interactions.
How about you? What is your checklist, and what all do you usually consider to check if you’re headed in the right strategic direction?
Write to me.
By: Venkat Nanduri