If You Focus On Your Product You Are Missing The Bigger Opportunity


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Companies spend billions of dollars every year on new products.

Almost each and every one of these new products are quickly copied, reverse engineered, replicated and often times even improved upon by competitors.

Over and over, again and again, companies invest huge amounts of capital, time and energy in improving their products.

Ever so slowly, organizations are beginning to figure out that a product is just a commodity and if you focus on that exclusively you will be commoditized.

The winners of the personalization economy have figured out that while having a great product is important, what is more important is having a personalized, friendly, hassle-free experience.

Apple has an awesome product, but its retail and customer experience is as good or better than anybody in retail.

Tesla has a great product, but its personalization, customization, follow through and proactive service is better than any.

Macy’s and Nordstrom pretty much sell the same product, yet Nordstrom’s culture is vibrant, its stores are bustling and its service is legendary.

Don’t make the mistake that the big, soon to be dinosaurs are making, which is focusing on your product exclusively.

The winners today, tomorrow and long in the future are going to be the organizations that create personalized, fast, authentic and friendly experiences.

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Republished with author’s permission from original post.

Peter Psichogios
Peter Psichogios is the President of CSI International Performance Group whose mission is to help companies create engaging employee and customer experiences. Prior to joining CSI International Peter served as an executive member of one of the largest Instructional System Association companies in the world. In this capacity, he led all the front-end analysis and worked directly with Dr. Ken Blanchard. Peter has been fortunate to work with the who's who of the Fortune 500, helping them deliver innovative learning, engagement and recognition solutions.


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