Organisations that get unique insights through Qualitative Customer Conversations (QCCs) end up having a unique advantage, enabling them to make more informed strategy choices.
A big factor in whether your strategy will be successful or not is whether the choices you make are based on insights that are on the same trajectory to what eventually unfolds in the external conditions.
Insights must be unique enough to give you a clear vantage point and help pick the important external changes related to your organisation.
Unique insights are critical for a successful strategy
Why do 67 Percent of Strategic Plans Fail?
Strategic plans that are purely based on assumptions from a select group of internal people, general market surveys, or one-way formal interviews often miss subtle market inflection points and customer nuances. This results in the strategy missing the mark.
Traditional strategy is largely based on industry research or information that is publicly available, without factoring in unique experiences and observations shared directly by customers, partners and suppliers. It often misses subtle yet profound changes in the external conditions.
On the other hand, business strategy that is based on unique insights that are distinctive and only discovered through direct interaction with customers is at significant advantage.
Don’t just rely on surveys or formal interviews
As Graham Kenny highlights in his popular Harvard Business Review article – Customer surveys are no substitute for actually talking to customers.
Instead of basing your decisions on internal assumptions, surveys, historical market research and data or formal one-way interviews, QCCs help you go a step further.
They are about getting quality, individual insights through a nuanced conversation method with the specific aim of seeing your organisation and sector from a new perspective.
QCCs are vastly different to focus groups or formal interviews that tend to stifle authentic and individual value exchanges.
Don’t get caught in the TED talk trap
There are parallels with why traditional one-way TED-style talks have taken a steep decline.
TED talks came from the era when one-way communication was at its peak, and listening to the sole ‘expert’ in the room was the primary way of gaining knowledge and insights.
However, podcasts are now the fastest-growing communication medium, largely because they embrace a free-flowing conversation style based on two-way exchanges of value.
Co-discovering insights changes the game
When insights emerge from a two-way conversation, both people pay attention.
Something happens. The value that comes out of the discussion is equally shared.
Customers no longer feel like you are just trying to leach a whole heap of information from them. They instead come away feeling like they have been heard and also learned some valuable new insights for themselves as part of the process.
Because the format is free-flowing, yet organised, it often leads to unexpected revelations.
The proven QCC method
Based on years of testing and refining across various clients and industries, we have developed the Qualitative Customer Conversations method (QCC).
Below are our 6 ways to get unique insights through the QCC approach:
1 – Make the context clear
Make it clear that the conversation, although in the context of your strategy, is foremost about what is seen as the most important market dynamics, opportunities and problems that need to be solved – and in some cases solved together.
2 – Positioning for candid insights
Create a semi-informal environment, something akin to a ‘coffee shop’ type of conversation. This will elicit the kind of insightful comments that people haven’t thought too much about but are candid and revealing.
3 – Steer away from a formal interview
Don’t fall into the trap of conducting a formal interview. Your customer will pick up on this dynamic, typically resulting in rote, surface-level answers.
4 – Get outside your own industry
Frame several questions outside the context of your own organisation and specific industry. This avoids the typical survey-type questions about providing feedback on your organisation’s services and instead draws out the bigger collective problems.
5 – Two-way exchange of value
Make sure the customer knows it’s a two-way exchange of value, not a one-way interview. When a customer knows they will likely get new insights from a blend of their own and your perspectives, this changes the whole dynamic.
6 – Quality not quantity
Aim for 10-12 different conversations. It might not seem like a big number initially, but you will start to pick up key themes and insights after this many. Remember, it’s about quality, not quantity.
So what’s next?
Incorporate this approach as a key part of your strategy process and you’ll be astounded at the unique insights you discover to enable you to make clear strategy choices.
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Learn more about using these principles:
- How do you uncover your strategy blindspots? – Our recent article on getting visibility on market blindspots and the impact on strategy.
- The Qualitative Customer Conversations (QCCs) Approach – When used the right way QCCs can assist you in getting comfortable with tough decisions.
- Foundstone – Market & Customer Insights – Get unique market & customer insights through the Foundstone approach.
About Foundstone Advisory
Foundstone is a business and strategy advisory firm based in Melbourne. We are experts in incorporating Design Thinking, Open Strategy, and Co-Design consulting principles for impactful business strategy.
To find out how to start applying modern and impactful strategy in your organisation and leadership, enquire about our Strategy Consultation here.