Heresy!! Technology makes the world go around, right? That’s why the best technology always wins in the market, right? Hmmm. Well, maybe not.
Technologies come and go. Even great technologies.
Before we have a heart attack – yes, technology is important. I recognize that and I would never argue that you can be successful without it. Your technology innovation is most likely one of the key reason customers find you. It’s also a source of revenue.
That doesn’t mean that your whizbang whatchamaflopppy is the heart of your business.
It certainly doesn’t mean that your technology alone will power you through the ups and downs of your entire business life cycle.
Nor does it mean that technology in and of itself will keep you in a strong market position
What keeps your business alive and thriving is your customers. We technology folk forget that sometimes. But the bottom line is that customers, and the value you bring to them, should be at the heart of your business.
Your technology represents a facet of your customer value matrix. But your value goes much deeper. Value comes from the energy and attitude you put into solving customer problems. It comes becoming a trusted partner with your customers. That’s an intangible thing, made up of so much more than tangible technology. For example:
- Market Expertise. Customers want to work with vendors who understand their world, their daily lives. People who have expertise in their specific field, not just in coding the latest and greatest software. Don’t underestimate the value of real-world, hands-on experience and knowledge – your customers value it and you should too. You should fuel it. Being able to apply your technology to your customers’ business in their terms will build a stronger partnership than your latest whizawidget, every time.
- Customer Commitment. Great companies are passionate about their customer experience. Sure, all great vendors aren’t that way, there’s always an exception (and I can think of one large vendor that is noticeably lacking a customer-focused attitude). But most great companies live and breathe ‘customer’. Take a look at Steve Jobs if you want the ultimate example. He is beyond passionate about his users. I’ve seen him miss an important executive session because he wanted to spend time with an employee’s mom – exploring her experience with GUIs, with the web, with music downloading. That’s one of the many reasons he’s a winner – big time.
- Customer Vision. Enduring companies have vision. And not just about technology. They see the world through their customers’ eyes. They understand that their own infatuation with the next cool innovation may not match their customers’ most- pressing needs. Set your vision from your customer’s perspective. Then go use your technical skills to create the best technology or service to help your customers be successful. Starting with technology and then trying to find a customer home is like trying to make that proverbial horse drink water – it rarely works well.
There are many complex factors that go into each and every success. Different mixes make a company unique, power it to leadership and keep it there. Your technology or products are definitely one of those factors.
Still, keeping your fingers on the pulse of your customers is the one guaranteed key to success. When you’re taking stock of your company, be sure you look beyond the development labs.
