Strategy + Business had an article recently on Spend Shifting. They talked about how Americans are evolving a new (old) spending model, whereby they invest in companies with relationships, values, quality, kindness, and things that last. They’re also moving away from product attributes that are about winning, aggression, and power. It made us think about what to do, when your customer changes. Not what to do when a different sort of customer comes through your door, but when a customer who has been with you a long time, seems to be doing an attitudinal about-face.
Do you go with them? The first thing to do is to find out whether it’s really them who has changed, or you. Are they like that high-school friend who never grew or evolved, and just doesn’t fit into your life anymore? Or are you the one who has been standing still? By doing a values audit, you can get back in touch with what your product or service is all about, on an attitudinal, emotional level. Look at your people, products, and processes, and make a list of their core values. Then compare that to your customer’s ideals and outlook. Ask yourself if you will be, feel, and look better if you can be where they are. If you can, then reset your compass and start shifting.
Taking a kinder view,
Megann and Steve