How Do You Chase A Moving Ball?

Early stage companies focusing on social commerce and analytics face a market the future of which is very unpredictable

. Nobody can accurately forecast market direction or even who the players will be in 2 to 3 years. What are best practices for chasing a moving ball?

Notes from a conversation with Michelle Bonat, CEO and Founder, RumbaFish Technologies

In a rapidly evolving market it is critical to have laser-like focus on the needs of the customers. The objective is to create value for them and this can only be accomplished by understanding their needs, their businesses and their challenges. While technologies and markets may change and evolve, the truth is that human behavior is remarkably consistent over time. By focusing on rewards, sharing and customer motivations we can better understand their needs. Facebook has shown over the last year that by bringing games and more social activity to Facebook, they more deeply engage their users. We see three fundamentals in working with customers.

First, focus on understanding needs versus wants. If Henry Ford had asked what customers needed to improve transportation they would have replied "a faster horse." The automobile was an undefined entity. His customers needed something to get from Point A to Point B with greater speed and without getting rained on. We look to inventing solutions that are incrementally better at addressing fundamental customer needs by leveraging technology and social commerce.

Second, work collaboratively with your customer. As we develop an understanding of needs versus wants, we develop an arm in arm relationship with customers and partner to evaluate alternative solutions that work for them. Each side understands, step-by-step, the developing solution. We use short versus long release cycles with frequent checkpoints to assure that both sides are on the same page and that we have clearly identified the features that are most important to the customer. What may appear as a minor detail to an outsider may be the make or break factor to a particular solution. As a result, our customers become evangelists not only for the resulting product or service, but for us!

Third, go into any project with the customer's success foremost in your mind. We focus not only on getting the solution right, but on assuring that the solution optimizes meeting the customer's primary objectives. That way we all share in the win.

The bottom line is that customers want to be treated as individuals and want their individual needs met. This is the attraction of social media - the ability of individuals to interact with others on their own terms. We honor this and make it central to our customer interactions. This way, no matter where the market goes, we will be a player.

by: Sandy McMahon

POST COMMENT

Barbecue Sauce For A Excellent Barbeque How A Reverse Mortgage Borrower Can Lose The Property Ownership A Short History On Pumping Units How To Cope With Writer's Block Why Replace Your Regular Cigarettes With A Vapor Cigarette What Does A Vapor Cigarette Contain? Wrongful Death- Lawsuits Are About More Than Money Reasons Why People Prefer Private Hospital Over Nhs Cheap Philadelphia Eagles Jerseys For Fans Let Them Save The Their Wages Why You Should Invest In E-cigarette Kits The Usefulness Of E-cigarette Kits Tips For Maintaining Your Motorcycle Tires How To Find A Good Mechanic