Monthly Archives: October 2024

What does the AI boom mean for businesses today?

In this post, I explore the transformative impact of artificial intelligence and why it’s not just a passing trend, it’s reshaping industries and redefining the way we work and interact. This is your guide to understanding and capitalising on the AI-driven future.

(1) AI as the new OS: AI will soon be a standard interface across industries, where today’s “wrappers” become tomorrow’s essential middleware.

(2) Data fuels AI, models refine it: data may be the oil of the digital world, but models are the refineries. The real power will lie with those developing the best tools for fine-tuning and deployment.

(3)AI commoditisation is here: as AI becomes standard, the real value shifts to what else you bring – user experience, distribution, and brand.

(4) Rise of the ‘AI-native’ workforce: the next generation of leaders are those coming up with AI as second nature. Hiring them now could be a game-changer for our teams and companies.

(5) Prompts over code: crafting effective AI prompts will soon matter more than the code itself. A new wave of “AI whisperers” will be the key players.

(6) Opportunities are massive: this market has staggering potential. While some well-backed companies will make big strides, there’s room for small, niche ideas – ideal for those who can pinpoint a killer feature and build a strong community.

(7) Boring businesses with big data: the standout AI opportunities may not be in flashy tech companies but in established data-heavy businesses ready to leverage AI. (I’m working on a list.)

(8) Rise of “AI naturalists”: as AI saturates the market, a counter-movement will emerge, similar to the anti-crypto wave we saw. Every tech cycle brings a pushback.

(9) When every company is ‘AI-driven’: the term ‘AI’ loses its weight when it’s everywhere. We’re already on that path.

This is just the beginning, the opportunities are out there for everyone, not just the tech giants.

What does it really mean to be customer centric?

Being customer centric is not just about setting the right goals – it’s about creating a culture where every team member, no matter what team they’re in, is empowered to put the customer first and to focus on delivering results for the customer.

Here are some practical steps for leaders:

(1) Set the example: As leaders, we need to champion customer-centric behaviours and decisions in everything we do.

(2) Foster a unified vision: Align every department and team around a shared understanding of customer value (and how to measure it), ensuring consistency in the customer experience and journey.

(3) Empower teams: Give your teams the tools, autonomy and insights they need to solve customer problems proactively.

(4) Continuous learning: Encourage ongoing learning from customer feedback and market trends to stay ahead of evolving needs.

(5) Recognise and reward: Celebrate and reward employees who demonstrate customer centric actions and decisions, fostering a culture of putting the customer first.

Think of it as a continuous journey not a one off project or initiative with leadership as the driving force behind it. By creating the right environment, we ensure both our customers and teams thrive together.

⭐️ Building a Winning Customer Success Strategy ⭐️

A successful customer success strategy goes beyond solving problems, it’s about ensuring customers achieve their desired outcomes and feel supported throughout their journey with your product or service.

Here are the key components for a working strategy:

(1) Understanding customer needs: Develop detailed buyer personas and map the customer journey to understand goals, challenges, and preferences.

(2) Clear communication: Maintain open, transparent communication to address queries promptly and ensure customers feel valued.

(3) Proactive engagement: Regularly engage with your customers, not just when problems arise. Proactive outreach (with value each time) demonstrates your commitment to their success.

(4) Structured onboarding: Guide new customers with a well planned onboarding process that includes training, tutorials and resources for smooth adoption.

(5) Leverage technology: Use customer success tools and CRMs to centralise data, track interactions and automate tasks, allowing teams to focus on building relationships (that grow).

(6)Measuring success: Set KPIs to assess satisfaction and retention, reviewing metrics regularly to refine and adapt your approach.

(7) Ongoing support: Provide continuous support across various channels, ensuring customers have access to help whenever they need it.

(8) Continuous improvement: Regularly evaluate and enhance your strategy based on customer feedback and evolving needs.

(9) Cross-departmental collaboration: Align sales, marketing, engineering, product and support teams to create a seamless, unified approach to customer success.

By focusing on these components, companies can foster customer satisfaction, retention and long-term loyalty.