This viewpoint article explores how companies can solve the problems of flat sales revenue and customer churn by conducting an honest self‐assessment of corporate culture, then reinventing or refocusing products and services to provide the value that customers want.
Using examples drawn from real businesses facing real problems, the author describes the process companies can use to reenergize their people and their offerings when flat sales and customer churn are symptoms of a flat culture.
Connecting with customers helps a company develop the roadmap it needs to reenergize and reinvent its products, services, sales reps, and marketing and management teams. The only way to remain on target with customer value needs is to develop systems that communicate with internal and external customers and act upon the knowledge gained – and consistently keep the company in touch with its customers.
It is recommended that companies start with a situational assessment that includes an exploration of four key customer value determinants: products and/or services, sales representatives, management, and service quality. Healthy companies listen to their customers' concerns and partnership requirements, and then act accordingly.
This article offers practical recommendations to help managers get their companies back on track if flat sales and customer churn are problems.
