Want to succeed in High-Tech? Focus on your customers
January 12, 2007
A guest post by Erik Berggren - Director of Customer Results, SuccessFactors.
You probably don’t need me to tell you that successful companies are ones who provide products people want. But what sometimes gets lost is that this is true not just for B2C firms, but for B2B firms as well. To get a sense of what I mean, just consider the story of my current office printer. Made by a well known PC manufacturer - it is so universally despised by my colleagues for being constantly broken (as it is right now) that it will soon be replaced by a machine from another company. The moral of the story? If the end users, your ultimate customers, don’t like your product, its ultimately not going to do very well.
Recently, SuccessFactors conducted a study on how high-tech companies manage their talent. Specifically, we took a look at the core competencies such firms use to evaluate people in their organizations. Perhaps not surprisingly, we found that one very key competency stood out amongst companies that both grew faster and provided a greater return to their owners than their competition. That competency? Customer focus.
“So what?,” you might be thinking. Isn’t it fairly obvious that customer driven product development and engineering makes sense? Sure it is, but the research shows the importance of making this an explicit area for managing people. It?s not something that can be merely talked about, it has to be acted upon ? and it?s that action that makes all the difference. By way of comparison, our research also showed that customer focus is NOT something that poor-performing high tech companies stress. That is what makes this so intriguing - we’ve proven both sides of the coin.
Want to know more? Based on the results from our broad-ranging research on competencies and how they drive financial performance, we decided to partner with Bersin and Associates to get a perspective of deep expertise from the broader HCM field. Josh Bersin has analyzed our research in depth and written a great report that puts the importance of managing competencies in perspective.
For questions about the research, feel free to leave a comment, or send an email to Erik at eberggren AT successfactors.com.
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