It is always funny that until you have purchased a new car, you see so few of them on the street. Afterwards, it seems like every light you pull up to there is one. Even the different makes start looking like your own. Tuesday night, I posted a blog, Is there a Fifth way to Grow a Business and by Wednesday morning, I had clicked into two tweets that had links to very similar posts. Both are well written and add additional perspective to my post. I encourage you to read all three in no particular order.
In a summary of the three, business growth is becoming a function of collaborative efforts with our customers for retention and within our markets for acquisition. I use the word customer as a generic term often to refer to existing customers, prospects and/or markets.
When looking at Brian Solis’s description of the Moments of Truth in his book What’s the Future of Business: Changing the Way Businesses Create Experiences or the description from Roger Martin’s book, Playing to Win: How Strategy Really Works or Mark Johnson’s Job to be Done Model, Seizing the White Space, you see the foundational principles of Service Dominant Logic being applied. These books are good reading. On the other hand, The Service-Dominant Logic of Marketing edited by Robert Lusch and Stephen Vargo is extremely detailed and thorough, struggles for an audience. It is a tough read. However, it is at the heart of future growth; My matrix is below.
This matrix symbolizes how the collaborative thinking process needs to become part of every market. It will take a strategic plan and effort by organizations to move products/services into that area. You cannot wake up one day and say that we will start co-creating with customers. It is a strategic decision that you must make as an organization to move towards the center of the matrix.
For more information on Service Dominant Logic.
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