Why do we take non-productive decisions? This is a question easy to hear nowadays. I believe one of the answers (probably the most important one) comes from a Market Research Executive Board report: almost all executives agree that customer focus is critical to their company’s success – yet only 40% of senior executives feel that they have the support and tools that they need to be customer focused.
And why is that? – we may ask. Well, research into the customer decision-making environment reveals that the Research function—the organizational owner of customer knowledge, one of three components of customer focus – is currently set up to impact only 10% of the company’s customer-facing decisions. This leaves 90% of decisions being made based on “gut instinct” and/ or insights and information provided by other sources.
Not long ago I realised the importance of client facing behaviour – more details in this article – and decisions inside the firm will definetly impact this behaviour directly.