Most companies think they’re doing enough to understand their customers. They run an annual satisfaction survey, maybe buy some anonymous market research report, and call it a day. The problem? That’s not really knowing the mind of your customers. That’s checking a box.
Just the other day I was reading a post on X by some silicon valley VC talking about how AI agents are going to replace countless different jobs. As expected it kicked off a lot of comments and replies.
Customer churn is one of the most pressing challenges any business faces. Regardless of the state of the overall economy, or even the caliber of your competition, keeping current customers happy is critical. Your customers are the foundation of your business and it costs a lot more to get a new customer than it does retaining them.
Market research is essential for every business. It’s a shame, however, that companies spend so much money to get such a small return.
Every business faces the same challenge: figuring out where to focus. Where are the best opportunities? What’s the best go-to-market strategy? Who are truly the toughest competitors to have to deal with?
AI isn’t just supposed to speed up existing processes, it’s supposed to improve them. But when it comes to the world of HR and recruiting, is AI actually causing more problems that it solves by screening out good candidates before they even get the chance to get interviewed by a real person?
For many healthcare organizations, participating in standardized patient surveys like HCAHPS is mandatory. These government-mandated surveys are supposed to help gauge true patient satisfaction and improve care quality. But in practice, they fail miserably.
While doing a great deal of calls with hospital executives recently, AI was (unsurprisingly) constantly brought up. But I noticed that cloud infrastructure was mentioned quite frequently as well. The two seemed to go almost hand-in-hand.
When a major health system reached out to their software vendor’s new CEO after a major acquisition, they expected a prompt response. As a client paying 7-figures annually for enterprise software, they assumed their concerns would matter. Months of silence cost the vendor a 9-figure renewal—and revealed a critical lesson for every business leader: ignoring customers sends a message you can’t afford.