“Intelligence is the ability to adapt to change” – Stephen Hawking
As obvious as it seems in the above quote of Stephen Hawking in case of organizations as well, to plan for what’s coming they need – sensory intelligence.
We are now at the second aspect in S & M importance domain. Main Article: https://beyondobvious.in/the-success-mantra-s-m/
Sensory Intelligence is an integral part of a more widely known phrase, Market Intelligence.
Will it not bother you if your sales drops month on month and no one in the company has any freaking idea, why? This is classic example of S & M team messing up the whole intelligence part.
CEO Nokia mentioned “We did not do anything wrong, but somehow, we lost.” My perception is they were unable to read the undercurrents in the market, customer voices, product perceptions, etc. – out and out an intelligence failure – I say.
Charted here in are 5 ways S & M teams can work to make the best out of Sensory Intelligence.
1. Voice:
“Listen – and listen to Assimilate.” More than often, the S & M people do not assimilate the information that is so naturally and unknowingly handed over to them on a platter by their customers themselves.
For example:
A. You know about the new project and when you ask the customer, he diverts the topic.
B. You talk about new orders and future planning and customer mentions the last goof up by your company.
C. Even when you pass more than usual discounts the customers are not excited.
All these are signs, that you have no longer remained the most preferred choice.
More often than none, it’s noticed that S & M people neglect these stinkers, as mere whims of fancy and think the next visit will be a cake walk.
Keeping the head leveled and ears open might just solve 50% of the intelligence issues.
2. Visual:
It’s imperative that on your visit to customer’s plant, premises you should notice some things about that new project, change in policy, competitor’s visits, material, documents. The key is to have your eyes open.
It has been quite common for S & M guys to visit their own strong holds at the customer end and feel merry.
For example:
A. On a visit to shop floor, you see a new part, which was not bought from you. Inference: competition has reached to trial levels on shop floor.
B. In office of the customer, on the board you see fast moving deadlines of a new project, yet your discussion is in elementary stage. Inference: you are not the preferred choice.
The easiest is also visit the competition strong hold at customer end, stock yard, rejection yard. Analyze at the back of your mind what is the real scenario; join the dots to understand the real picture.
3. Patterns:
This is key aspect of this intelligence. A good S & M person should chart the patterns and understand before-hand how the market or customer will behave in near term. Some products have cycles, such as, Automotive sales drops around December and July, so obviously the demand will be lower. Capital Equipment’s have a good time around September and March due to the depreciation claims effect.
The above examples are more general, but emphasis is on knowing the pattern. This will keep you one step ahead in your planning and executing. Have knowledge of the complete value chain. Your product – your customer – his customer – end customer. Chart the demand and map your supplies to it. Study and the pattern will emerge.
This also gives you a strong hold on the customer and confidence on your business with him.
4. Windfall:
At times, all said and done, there could be incidences no one could read or predict. I prefer to call this windfall.
Is it possible that Yippee! Would have anticipated the growth in sales due to Maggi issue? Is it possible that Maggi would have anticipated such a huge loss in sales? Or may be Coca Cola in early 80’s, when they had to leave India. Or Pepsi when the whole pesticide issue cropped up.
These are windfalls, what you can best do is search for an alternative market / plan to loose less in such situation. But a few windfalls could be anticipated.
For example: You have to know that customer is facing some financial crunch, has invested in a big plant, is near to close a big deal with other company or is about to lose a business. You should have your planning department on toes, to react to your triggers, once you have confirmed news from customer.
This will put you in more commanding position / damage less.
5. Prevision
With all the above senses put to work a S & M person will be smart enough to draw the inferences on the customer perception of product, company, service, etc. this prevision should help define the strategy for the new launch / revamp of the product / phase out of the same.
Was it not great to have a New i20 Elite even when the i20 was still running good? Would you not love to have a Swift makeover now? Have we not seen the shampoo companies changing the bottle shape every now and then? Have we not seen Maruti launching new cars with old brand names: Baleno or Vitara? Have we not seen Skoda rebrand the first gen Octavia to Rapid?
It is now becoming highly imperative for organizations to stay ahead and in control of their markets and products. These few steps and tricks could go long way on keeping your impact on the market and customers in the pocket.
First Aspect of S&M: https://beyondobvious.in/5-ways-to-achieve-good-customer-intimacy/
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