Mar 16, 2006

Innovate by focussing on disgruntled customers (i.e. merchants)


I found this on Tom Peters’ blog, then looked the book up on Amazon.com

Innovate by focussing on disgruntled customers. What an excellent way to describe what I have been talking about - payment card innovation which focuses on merchants, a major group of bankcard customers who are so disgruntled that they’re going to court in a really big way.

Tom Peters’ blog lets you download lots of presentations made to all kinds of companies. Take a look at the one for MasterCard Advisors.

2 comments:

David G.W. Birch said...

The focus on disgruntled customers idea is a bit like Christensen innovation by looking at overserved/underserved customers and makes sense. But thanks for the link: I didn't realise people still listened to Tom Peters. I think I still have a copy of In Search of Excellence around somewhere!: here's what one of the reviewers says about it...

An article with Fast Company magazine brought into the light the author's initial research steps, which was to first start off by essentially asking McKinsey partners 'Who's cool?' and 'Who is doing cool work?'; rather than, to base their research population of firms upon those that passed more brutal metrics based questions about what firms should have made their list. This amounted to, as co-author Peters puts in his own words: 'faking the data.' The fact that their proceeding quantitative analysis then eliminated GE (a firm that is now considered as the world's leading conglomerate firm and was recently ranked 1st by the Financial Times global 500 Companies - June 2005) from their initial list showed the shortcomings of using their 'raw insight', which Peters admits can be 'stupid', as opposed to " 'smart' tough-minded metrics".

Aneace Haddad said...

I haven't read anything by Tom Peters in ages either. The last thing was The Pursuit of Wow!, I think it was 1994. Some of the things he says are fun though and got me thinking about things in our industry.

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