Commentary by The Gonzales Group
RISMEDIA, April 10, 2008-As we continue through a challenging market, we would like to impress upon you to begin “thinking innovation.” At the Gonzales Group, we understand a few things about being innovative. One of the most important lessons that we have garnered from our clients is that innovation does not sprout from CEO’s and Boards of Directors. Innovation begins with the people who interact with multicultural customers every day.
Whether it is selling homes or creating new financial products, it is about harnessing the information coming from the folks on the front line: individuals who feel the experience, see the needs, and understand how customers are using or not using the company’s products and services. These are the employees who know and understand the multicultural consumers “pain points.”
How do you develop your organizational culture to embrace innovation towards the multicultural markets so that the competency threads throughout your organization?
One way is to look outside of your industry to see examples of companies who “understand” how to provide a positive customer experience for the multicultural customer. It is through these types of observations that you detect trends that you can leverage for your own use. Also, develop and encourage an innovative work culture within your organization to allow employees to test new ways of doing things with Multicultural consumers. After all, it is all about enhancing the customer experience.
Multicultural consumers’ needs exist and this segment continues to offer profitable business opportunity regardless of market condition. Organizations that succeed in this space all have common similarities. They:
– Have clear strategic intent
– Excel at customer service
– Earn Multicultural customers’ trust
– Have tracking in place to measure service, value, and loyalty
Embrace a sound strategy in 2008 to target and serve the multicultural segments. It is the one consumer segment largely ignored but the one that holds the key to economic opportunity.
For more information, visit www.gonzalesgroup.com.