“I listened to you, and you made me a better President”, said Barack Obama in his post-victory speech to the nation. I think brands may need to learn this old lesson in a new way.
Listening to customers is nothing new in marketing literature. Listening to customers to serve their needs better is nothing new to practicing professionals. However, it seems from observing many brands that not all brands have the ability to listen the same way as those leading brands listen. Listening does not mean to “hear” and do nothing. Listening does not mean to “hear” and then you understand what customers said, resulting in no improvement at all! Listening is not an act of hearing, it is hearing with attention, resulting in action. Many airlines know what customers want. Air Asia just explored a group of customers and served their needs immediately- a no-frill airline that won’t break the bank. All banks know that customers want easy access to ATMs. Dutch-Bangla Bank outsmarted other banks in meeting this need of customers. Every mobile phone operator knows that younger customers are the most lucrative ones in terms of growth. Airtel just did it better to accelerate their growth of market share.