For nearly 15 years my AMSP/NAPL/NAQP colleagues and I have been studying some of our industryâs most successful companies. Weâve learned that their success isnât attributable to doing things other companies canât do, but rather to doing things that other companies donât believe are important, never get around to doing, or donât do very well. Regularly asking these four questions is an example:
â˘ What are we doing to hear the voice of our best clients more clearly? Value creation starts by understanding whatâs really most important to clientsâand never assuming we already know. A closely related question, addressed in this yearâs State of the Industry Report: How good is our client feedback? Is it game-changing insight that shows how to be even more valuable to clients? Or is it generalities that donât tell us much of anything?
â˘ What are we doing to respond more effectively to client feedback? Put simply, even the most insightful, meaningful information isnât power unless we act on it.
â˘ What are we doing to show clients exactly how they benefit from partnering with us? Understanding and solving clientsâ problems isnât enough; we also have to document our contributions to their success. How much money have we saved them? How much time? How much have we increased the return to their direct-mail campaign or traffic to their website? How much revenue have we helped them create?
â˘ Why are we successful? Many companies we study donât know why they are doing well. Leaders do because they continuously challenge their success, never assuming that it will continue. Their philosophy: âWe cannot stand still. We have to be trying new things and looking at our processes to see what is working and not working. And if it is working, we have to ask ourselves, Will it continue to work in the future?â
Lean more about our industryâs most successful companies by downloading the complimentary special report, âNAPL Leaders: Who They Are, Why Theyâre Successful,â at https://www.napl.org/resource-library/. And look for my next blog, when weâll talk about âFallen Leaders,â or companies that incorrectly assumed past success would guarantee future success.