The Next wave of Leadership practices: Meta Leadership.
Do you conduct A/B testing (not just on marketing but the usability/functionality aspects of your offerings also), if not how did you decide on that ad, application path UI/UX, etc. Was the most effective, fastest or accurate at achieving your aims from a customer/end user perspective?
There is a direct correlation between the number of conversations you are having versus the sales you are closing. What is working, what has a higher hit/closing rate and what does not? Do you ask your current and past clients for referrals and testimonials, why or why not? Do you go out and visit the clients, watch them use your products and/or services. Actual users watching their actions and interactions. Maybe they found a use for your service that you were unaware of (The use of baking soda for odor control in the refrigerator as an example). The tale goes as follows: Arm & Hammer had no idea that women were using their product for odor control until they conducted a few home visits for market research. Upon inquisition one of the researchers stumbled across the product sitting in the back of a refrigerator at one of their customers’ homes. When he asked why she kept it in there she told him why and there you have it, brand new use for the product without massive cost of R&D. Your end users are your best method for feedback, product line extension and innovation, find out what they used elsewhere (intro into Competitive Intelligence), what they liked and didn’t like about it, what makes that provider/vendor better or worse than you. Document all of that, it is basically inverse consulting (Companies paying you to tell you what they want to buy). How did you decide to add that feature that cost X to develop or implement? Do you take time to find out you client KPI’s and see if there is a way for you to provide an offering to assist them with those? Do you provide your clients with a breaking set?
Do you work with clients on journey lines, helping them through the use of your products or services to optimize some of their own internal processes? Have you tried transaction leveraging with your clients (Similar to a bank charging a fee for a loan application as well as interest on the loan, 2 sources of income on a single transaction.) If so, how is that working, if not, why not and is it documented. What are your processes for contract rejections, follow ups and who is responsible?
What is our process for generating value for our clients, specifically? What about the data generated by your users? Is it mapped, tracked and stored at a minimum? Is it being analyzed and if so by whom, using what tools and/or applications? Feedback data, complaint data, testimonials and usage data. All of these need to be documented and you will see why later on. Data strategies when implemented correctly can open vast amounts of never expected income opportunities for a lot of organizations and huge bonuses for you.