Podcasts about connected strategy

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Best podcasts about connected strategy

Latest podcast episodes about connected strategy

Lead From Within
110. Taking Goals From Vision to Impact with guest Sara Lobkovich

Lead From Within

Play Episode Listen Later May 25, 2025 59:55


In this episode I talk to Sara Lobkovich about the three important questions every organization needs to ask themselves when setting stragetic short and long term goals.  Introduction I'm Sara Lobkovich, a strategy coach and OKR activist who helps leaders transform their big ideas into measurable impact without sacrificing wellbeing. As creator of the Connected Strategy on a Page and No-BS OKRs, she has trained over 2,000 OKR Coaches in 300+ organizations globally, including Fortune 500 companies. Her methodology strips away the confusion that typically surrounds strategic planning, replacing it with clear frameworks that drive real results. A board-certified Health and Wellness Coach, Sara brings a unique perspective to organizational strategy, integrating evidence-based approaches to behavior change and wellbeing into her work with organizations and individuals.   Resources mentioned in this episode Follow Sara: Website: HERE LinkedIn: HERE Instagram: HERE TikTok: HERE Bluesky: HERE   Thank you for listening. If you enjoyed this episode, please consider subscribing and leaving a review. Leave comment on what you enjoyed from the episode and if you have any suggestions for future episodes, I'd love to hear from you. Even better, share it with a friend or colleague and turn on the notifications so that you never miss an episode. It really helps the podcast gain more listeners so that we can grow our Lead From Within community. Thanks everyone! Keep reaching for your highest branch! Let's Connect Follow me on LinkedIn Here Visit my website Here Email: mthomson@curisconsulting.ca  Self-Care Guide on Amazon: Canada: HERE USA: HERE Leave me a voice note HERE and have it included on a future podcast! Just click on the "message" tab.  It is greatly appreciated!  

Everyday MBA
Building Connected Customer Relationships

Everyday MBA

Play Episode Listen Later Jun 8, 2024 21:05


Nicolaj Siggelkow discusses his book "Connected Strategy" and how to build continuous customer relationships for competitive advantage. Nicolaj is a professor at the Wharton School, University of Pennsylvania, where he also serves as co-director of the Mack Institute for Innovation Management. Listen as he describes how by designing your own “connected strategy,” you can unite the right technology with the right revenue model to reinvigorate and extend customer connections.   Host, Kevin Craine Want to be a guest? Everyday-MBA.com/guest 

From Think to Do
OKRs in Context: Do OKRs co-exist with other methodologies?

From Think to Do

Play Episode Listen Later Oct 31, 2023 24:13


One of the first jobs to be done when implementing (or rebooting) OKRs is to identify how they fit into an organization's existing planning “stack” and get clear about what job they're being hired to do. This episode is based on chapter three of Sara Lobkovich's upcoming book, The Evolutionary OKRs Playbook, which focuses on what is possible with Evolutionary OKRs®. You'll be introduced to the first of three models that Sara uses every day in her work with organizations implementing OKRs: the Connected Strategic® Implementation Stack. You'll learn about each layer of this stack, how it applies to individual projects and initiatives, why some organizations may struggle with OKRs, and why you don't necessarily need to have every element in the stack present to be successful. Today's episode offers you a chance to reflect on your organization's Strategic Stack, what elements might be most important to prioritize to increase shared meaning and understanding, and what elements you might want to consider adding to increase your organization's strategic alignment and impact. Be sure to stay tuned for future episodes on the other two models: Connected Strategy on a Page and OKR Maturity!  Key Points From This Episode:   Why it's important to identify how OKRs fit into an organization's existing planning stack.   Three models to consider, starting with the Connected Strategic Implementation Stack.   Unpacking each layer of the stack: strategic input, North Star Metrics, and more.   Some of the typical sources of aversion to OKRs that Sara sees in organizations.   Defining mandatory commits, health watch measures, and stretch goals.   How delivery fits into the Connected Strategic Implementation Stack.   Why you don't need to tick every box in this stack in order to be successful.   Stay tuned for more on the Connected Strategy on a Page and OKR Maturity models! Also: don't miss out -- No BS OKRs Annual Reset Edition registration closes on November 5th, so if you'd like help with your 2023 retrospective and 2024 OKR creation, join us for this practical, applied, OKR creation workshop: http://findrc.co/nobsokrs

The Melting Pot with Dominic Monkhouse
How To Improve Customer Relationships By Creating A Connected Strategy with Nicolaj Siggelkow

The Melting Pot with Dominic Monkhouse

Play Episode Listen Later Jun 15, 2021 45:33


Nicolaj Siggelkow is a lifelong academic, currently the David M. Knott Professor of Management at the Wharton School, University of Pennsylvania. He is a Co-Director of the Mack Institute for Innovation Management and the former Department Chair of Wharton's Management Department. Nicolaj loves the intersection of teaching and research and getting to focus on the things he's excited about. And so he's written a fantastic book called Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage.In today's episode, Nicolaj discusses how organisations can sell one off interactions they have with customers, he uses healthcare as his example, for a set amount of money. How do they persuade customers of the lifetime value of that asset so that they part with their cash up front for something they may not need for a long time?We talk about pricing, subscription, technology and how these things are coming together to change the way organisations compete, in a connected strategy. How can we take a transactional relationship with a customer and turn it into a lifetime revenue generating relationship?This is an absolutely fantastic conversation with Nicolaj, we hope you enjoy it as much as we did. On today's podcast:Interdependencies of strategic choicesIdentifying customer pain pointsConnected strategyThe subscription modelDifferentiating yourself through added valueLinks:Book - Connected StrategyTwitter – @NicSiggelkowLinkedIn – Nicolaj SiggelkowWebsite – https://connected-strategy.com/

Hack the Process: Mindful Action on Your Plans
Love, Justice, Uncertainty, and More in Process Hacker News

Hack the Process: Mindful Action on Your Plans

Play Episode Listen Later Oct 29, 2019 4:06


Welcome to the Process Hacker News, your weekly roundup of useful news and updates from Process Hackers who have been guests on Hack the Process with M. David Green. This week we’ve got love, justice, uncertainty, and more. For all the links, check out the show notes: https://www.hacktheprocess.com/love-justice-uncertainty-and-more-in-process-hacker-news/ Enjoy! Events Join Mark Silver for Heart of Business, a one-day workshop on November 8 in Baltimore, Maryland to learn how to combine business with love and see it thrive. Media Rhonda Magee’s new book, The Inner Work of Racial Justice, is now out. Listen to Rhonda discuss the issues of racial bias and mindfulness on the Tricycle Talks Podcast. On the What’s Next Podcast, venture capitalist and CEO Jerry Colonna sits down with Tiffani Bova to discuss leadership styles, how to get comfortable with uncertainty, and radical self-inquiry. Hear about the future of augmented reality and the challenges it may introduce straight from The AR Girl herself, Galit Arie, as she chats with Tara Hunt and Carlos Pacheco on The Anatomy of a Strategy Podcast. Co-authors Steven Goldbach and Geoff Tuff guest on the Healthy Paranoia Podcast to discuss how companies should prefer taking risks over the usual norms in business. Writing Coworking is a lot more common nowadays, and Alex Hillman shares his observations about changes over the years from the first to the third wave of coworking. The finalists for the 2019 Outstanding Works of Literature awards have been announced, and several books by Hack the Process guests made the list, including Everyday Chaos by David Weinberger, Loonshots by Safi Bahcall, Connected Strategy by Christian Terwiesch and Nine Lies About Work by Ashley Goodall. Congratulations! On the KM World blog, David Weinberger calls on the people of the web to bring back true blogging and the raw and real, non-promotional, community-centered essence of it. Recommended Resources Watch Yuval Noah Harari and Steve Pinker face off in a conversation about human nature and the challenges to the intellect of the Western world. Harari is an author Maneesh Sethi referenced, while Pinker was mentioned by Marissa Orr. Jack Kornfield, who inspired Loic Le Meur has a new course on Udemy called Mindfulness Meditation with Jack Kornfield, which is on sale until November 9. Simon Sinek, who was recommended by Alex Hillman, went on The School of Greatness Podcast with Lewis Howes to break down how to win using the power of the infinite mindset. Lewis Howes’ podcast is also an inspiration source for Malek Banoun and Paula Jenkins. Thanks for checking out this Process Hacker News update from Hack the Process. If you liked what you saw, please leave a comment to let us know what processes you’re hacking.

Outside In with Charles Trevail
Nicolaj Siggelkow & Christian Terwiesch: Advantages of a Connected Strategy

Outside In with Charles Trevail

Play Episode Listen Later Oct 1, 2019 24:52


Companies like Disney, Nike, Amazon, and Netflix are all creating continuous relationships with customers by implementing a “connected strategy” — a way to reduce customer barriers; create a better customer experience; all at a lower cost. Any company can do the same, but there’s no one-size-fits-all approach. Christian Terwiesch and Nicolaj Siggelkow, professors at the Wharton School and co-directors of Penn’s Mack Institute for Innovation Management, join the podcast to talk about their latest book, Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage. They walk through the four primary types of connected strategies companies use today -- respond to desire, curated offering, coach behavior, and automatic execution — and why connected strategies are the future of business. Listen to this podcast episode to learn: • What is a connected strategy, and what are the benefits for companies and customers alike? • The differences between the four types of connected strategies, and how and when to implement them • Why effective connected strategies can anticipate certain customer needs — sometimes before customers even know they have one! • The implications of privacy and trust when building a connected strategy — how do companies even begin to understand what’s acceptable vs. what’s creepy? • Challenges organizations face when designing and implementing a connected strategy • Why trust can only be earned when a company shows how it creates value for the customer — it happens incrementally over time • Examples of successful connected strategies in different industries, including health care, transportation, retail, and entertainment For more information: www.connected-strategy.com

Hack the Process: Mindful Action on Your Plans
Sabotage, Inclusivity, Transformation, and More in Process Hacker News

Hack the Process: Mindful Action on Your Plans

Play Episode Listen Later Sep 4, 2019 4:12


Welcome to the Process Hacker News, your weekly roundup of useful news and updates from Process Hackers who have been guests on Hack the Process with M. David Green. This week we’ve got sabotage, inclusivity, transformation, and more. For all the links, check out the show notes: https://www.hacktheprocess.com/sabotage-inclusivity-transformation-and-more-in-process-hacker-news/ Enjoy! Events Enroll for Designing Strategy from IDEO U, a limited-time course that will help enrollees build human-centered and business-focused approaches for teams, organizations or companies. The course is taught by Roger L. Martin and Jennifer Riel, and runs from September 26 to November 3. Come attend the 2019 PMI Silicon Valley Annual Symposium from October 14 to 15, where speakers such as Kimberly Wiefling will cover the topic of digital transformation and its impact on business and project management. Leading the Product is a product management conference set to happen in Melbourne, Australia on October 17 and in Sydney on October 22. Rich Mironov will be hosting the event. Media Rent the Runway, a designer clothing rental company where Hampton Catlin is VP of Engineering, was recently featured on the Today Show. The Enterprise Podcast Network talks with Kami Anderson and Joy Wiggins about how women can go from sabotage to support and how to improve conditions and reduce bias in the workplace. Find out more about brand positioning and how to differentiate your business from others by tuning in to April Dunford‘s episode of the Live in the Feast Podcast. Safi Bahcall returns to the Tim Ferriss show to discuss hypnosis, conquering insomnia, and his thoughts on depression. Writing If you want to capture user and customer experience, you can build a website using behavioral design. The latest Hack the Process guest, Will Leach can teach you how in his Forbes article. On Associations Now, Kristin Clarke lists a few world-changing books, including Success is in Your Sphere by Zvi Band and Connected Strategy by Christian Terwiesch. Shackled, by Adam Siddiq, has received another award, this time from the Readers’ Favorite Book Reviews and Award Contest under the non-fiction category. Congratulations, Adam! Recommended Resources Evolve 2019 is coming to Long Beach, California from October 18 to 20. Dr. Shefali Tsabary, whom Heather Chauvin recommended, will be leading this four-day summit of meditation and connection. Join Chris Coyier and other experienced speakers at Artifact in Austin, Texas from September 30 to October 2 to learn about design systems, lean approaches, accessibility, and inclusivity. Chris Coyier was mentioned by Jina Anne during her Hack the Process interview. Thanks for checking out this Process Hacker News update from Hack the Process. If you liked what you saw, please leave a comment to let us know what processes you’re hacking.

Trend Following with Michael Covel
Ep. 775: Christian Terwiesch and Nicolaj Siggelkow Interview with Michael Covel on Trend Following Radio

Trend Following with Michael Covel

Play Episode Listen Later Jun 27, 2019 43:59


Christian Terwiesch is the Andrew M. Heller Professor at the Wharton School of the University of Pennsylvania. He is Co-director of the Mack Institute for Innovation Management, and also holds a faculty appointment In Penn’s Perelman School of Medicine. From small start-ups to Fortune 500 companies, Christian has helped companies become more innovative, often by implementing innovation tournament events and by helping to restructure their innovation portfolio. Nicolaj Siggelkow is the David M. Knott Professor of Management at the Wharton School, University of Pennsylvania. He is a Co-Director of the Mack Institute for Innovation Management. Having spearheaded groundbreaking research on strategy, Nicolaj has been named a Fellow of the Strategic Management Society, the world’s leading association of strategy researchers. He has run strategy workshops for Fortune 500 organizations and small firms alike, helping develop and analyze their strategies. Today the professors join Michael to posit the question: What if there were a way to turn occasional, sporadic transactions with customers into long-term, continuous relationships–while simultaneously driving dramatic improvements in operational efficiency? What if you could break your existing trade-offs between superior customer experience and low cost? This is the promise of a connected strategy. New forms of connectivity–involving frequent, low-friction, customized interactions–mean that companies can now anticipate customer needs as they arise, or even before. Simultaneously, enabled by these technologies, companies can create new business models that deliver more value to customers. Connected strategies are win-win: Customers get a dramatically improved experience, while companies boost operational efficiency. Nicolaj Siggelkow and Christian Terwiesch reveal the emergence of connected strategies as a new source of competitive advantage. With in-depth examples from companies operating in industries such as healthcare, financial services, mobility, retail, entertainment, nonprofit, and education, Connected Strategy identifies the four pathways–respond-to-desire, curated offering, coach behavior, and automatic execution–for turning episodic interactions into continuous relationships. The authors show how each pathway creates a competitive advantage, then guide you through the critical decisions for creating and implementing your own connected strategies.

What's Next! with Tiffani Bova
Innovation and Continuous Connection with Christian Terwiesch

What's Next! with Tiffani Bova

Play Episode Listen Later Jun 6, 2019 30:31


Welcome to the What's Next! podcast with Tiffani Bova.  This week I have the absolute pleasure of speaking with Professor Christian Terwiesch on the show. Christian is a Professor in Wharton’s Operations and Information Management department, co-director of Penn’s Mack Institute for Innovation Management, and also holds a faculty appointment In Penn’s Perelman School of Medicine. He is the co-author of Matching Supply with Demand, a widely used textbook in Operations Management. He launched the first Massive Open Online Course (MOOC) in business on Coursera based on the book and since its inception, more than half a million students have enrolled. His first management book, Innovation Tournaments, details a new process-based approach to innovation and has inspired innovation tournaments around the world. His latest book, Connected Strategies, combines his expertise in the fields of operations, innovation, and strategy to help companies take advantage of digital technology leading to new business models. In addition to his teaching and his research, Professor Terwiesch is the host of “Work of Tomorrow”, a national radio show on Sirius XM 132. I am absolutely thrilled to be speaking with Christian Terwiesch on the What’s Next! Podcast today!  THIS EPISODE IS PERFECT FOR… anyone wanting to become more innovative or bring a culture of innovation to your organization, as well as those wanting to get a pulse on new business models shaping how organizations interact with customers today. TODAY’S MAIN MESSAGE… We have to find different ways of delighting our customers. How do we do that? Well, we do it through innovation and continuous connection. Professor Terwiesch maintains that innovation is a cultural process that can be managed. That is the power of the Innovation Tournament, it leaves room for that magic spark to fly, but gives it direction and structure. Beyond Innovation Tournaments, it’s about becoming continuously connected. This connection enables new ways of delighting the customer and also allows organizations to provide more value to the customer, potentially at a lower cost. The purpose of a connected strategy and a continuous relationship is not to get data, but to do a better job for the customer.  WHAT  I  LOVE  MOST… It’s the perfect timing! I love that Christian has identified these new business models that are fundamentally changing the way organizations are interacting with their customers.      Running time: 30:31    Subscribe on iTunes   Find Tiffani on social: Facebook Twitter LinkedIn    Find Christian on social:  Twitter  LinkedIn    The Connected Strategy Website:  Connected-Strategy    Christian’s Book:  Connected Strategy Book    Work of Tomorrow Podcast  Podcast 

Hack the Process: Mindful Action on Your Plans
Distractions, First Impressions, Origin Stories, and More in Process Hacker News

Hack the Process: Mindful Action on Your Plans

Play Episode Listen Later Jun 5, 2019 3:44


Distractions, First Impressions, Origin Stories, and More in Process Hacker News Welcome to the Process Hacker News, your weekly roundup of useful news and updates from Process Hackers who have been guests on Hack the Process with M. David Green. This week we’ve got distractions, first impressions, origin stories, and more. For all the links, check out the show notes at https://www.hacktheprocess.com/distractions-first-impressions-origin-stories-and-more-in-process-hacker-news/. Enjoy! Events On June 12 at CiscoLive in San Diego, Tiffani Bova will deliver a presentation about how work culture and social consciousness influence a company’s growth. Catch a glimpse of Jenny Feinberg’s dazzling art at her solo exhibit, Question Marks, in Los Angeles on June 27. Media On the Side Hustle Pro Podcast, Nicaila Matthews-Okome shares how she and her husband Muoyo launched their new app, Color Noir, and discusses her experience at the recent My Taught You Retreat. Hear how finding your origin story can be essential to retirement with InsideWorks founder Brian Jaeger on the Life Through Transitions Podcast hosted by Jon de Waal. Writing An Inc article by Martin Zwilling summarizes four ways to improve customer experiences and turn transactions into relationships, presented by our newest Hack the Process guest, Christian Terwiesch and co-author Nicolaj Siggelkow in their book, Connected Strategy. Brian Solis went on the Anatomy of a Strategy Podcast with fellow Hack the Process guest Tara Hunt, where he touched on multitasking, distractions, and keeping his creativity. Congratulations, Adam Siddiq, for being named as a finalist in the memoirs section of Next Generation’s 2019 Indie Book Awards! Inspired by Les Giblin’s How to Have Confidence and Power in Dealing with People, Julian Hayes II explains his number one takeaway from the book: words to remember to make better first impressions. How can you make a profit from free ebooks? Tom Corson-Knowles suggests eleven ways in a new blog post. Recommended Resources On the Disrupt Yourself Podcast with Whitney Johnson, Brene Brown pays a visit and digs into joy, vulnerability, and courage. Whitney was referenced by Ron Carucci, while Brene was mentioned by Heather Chauvin and Kate Swoboda. After accomplishing your dreams and becoming successful, you may feel lost and lacking purpose. Bestselling author Mark Manson discusses what people don’t tell you about success with Lewis Howes on the School of Greatness Podcast. Malek Banoun and Paula Jenkins are some of the Hack the Process guests who have taken inspiration from Lewis Howes and his show. Thanks for checking out this Process Hacker News update from Hack the Process. If you liked what you saw, please leave a comment to let us know what processes you’re hacking.

Everyday MBA
205: Get Connected and Build Customer Relationships

Everyday MBA

Play Episode Listen Later Jun 1, 2019 20:52


Episode 205 - Nicolaj Siggelkow discusses his book "Connected Strategy" (a #1 new release on Amazon for robotics and automation) and how to build continuous customer relationships for competitive advantage. Nicolaj is a professor at the Wharton School, University of Pennsylvania, where he also serves as co-director of the Mack Institute for Innovation Management. Listen as he describes how by designing your own “connected strategy,” you can unite the right technology with the right revenue model to reinvigorate and extend customer connections.  Host, Kevin Craine Want to be a guest? Everyday-MBA.com/guest Want to be a sponsor? Everyday-MBA.com/sponsor

Hack the Process: Mindful Action on Your Plans
Christian Terwiesch Strategizes Around Continuous Customer Relationships on Hack the Process Podcast

Hack the Process: Mindful Action on Your Plans

Play Episode Listen Later May 30, 2019 49:55


Can modern businesses learn to leverage the fact that we're all constantly connected through our computers, phones, and smart devices to build long-term relationships with their customers? Christian Terweisch and his co-author have a new book, Connected Strategy, which explores the opportunities and tradeoffs of some of the different approaches companies are trying, and where it might lead us next. In this Hack the Process interview, Christian will tell us how his academic career unexpectedly led him to become a pioneer in online video courses, What he's learned from his work teaching business skills to top executives, and why we need to find a balance between trust and concern over privacy as we start to rely on connected companies. For all the links, check out the show notes: https://www.hacktheprocess.com/christian-terwiesch-strategizes-around-continuous-customer-relationships-on-hack-the-process-podcast/

Christopher Lochhead Follow Your Different™
057 Connected Strategy w/ Christian Terwiesch

Christopher Lochhead Follow Your Different™

Play Episode Listen Later May 24, 2019 60:03


Professor Christian Terwiesch gets in touch with Lochhead for a remarkable conversation about connected opportunities in the customer journey. They dig into his new book, Connected Strategy, which looks into new forms of connectivity that can build legendary interactions with customers. “What would it take that you blow this tradeoff away and you can have a higher efficiency, low fulfillment cost interaction with the customer and still delight the customer?” - Professor Christian Terwiesch First Things First: Customer's Perspective In order for connected strategies to happen, business leaders should first think about the customer's perspective. It is important to know the product and service that you want to provide them. And even more important is knowing the customer's motivations for availing of your product. For example, a shoe designer can spend tons of money on R&D and marketing to build relationships with retail stores. And even then, they could fail miserably at understanding their customers' pain points. After all, the company that focuses on just the shoe itself will not be able to deliver quality customer journey. “The customer's pain points are not about just buying the shoe and having a great shoe. There's a much bigger aspiration that this runner potentially has—feeling good, running their first marathon.” - Professor Christian Terwiesch Connected Customer Journeys A term that Professor Terwiesch is particularly fond of is “consumption shame”, called “customer journey” in his book. This reminds us that people do not wake up in the morning and say they want our product. They first have to realize the need, which may be initially latent, for a product. From there, they can make the choice and finally buy the product. This journey, a form of engagement and experience, is made of weaved and repeated interactions. “It's weaving those disjoint experiences together, so that you and I—my firm and you—will have a relationship that goes much longer than one episode.” - Professor Christian Terwiesch Recognize, Request, Respond, Repeat Lochhead also shared his own experience after a recent purchase of podcasting equipment. A representative rang him up, asked some questions about his purchase, and then offered to help him directly should he have concerns. Christopher also received an email containing links to the shop's FAQs page, which completely blew him away. A company's personal touch shows the embeddedness of the moment of purchase in a longer customer journey. There could also be a similar experience for other customers before they make the purchase. Four stages in the journey that could use such connected strategies are the moments when customers recognize, request, respond and repeat their interaction with the product. To hear more about connected strategies from Professor Terwiesch and how you can utilize them, download and listen to the episode. Bio: Christian Terwiesch is a professor of Operations and Information Management at Wharton and co-directs Penn's Mack Institute for Innovation Management.   With extensive experience in MBA teaching, online courses, and executive education. Professor Terwiesch has authored several books, and published in many of today's leading academic journals, from Management Science to The New England Journal of Medicine.    He also hosts the national Sirius XM radio show Work of Tomorrow. He holds a doctoral degree from INSEAD and a Diploma from the University of Mannheim.   Links: OID, Wharton School - University of Pennsylvania Profile Executive Education, Wharton School - University of Pennsylvania Profile Twitter Amazon Profile Amazon - Connected Strategy Speaker Booking Agency Profile Work of Tomorrow We hope you enjoyed Professor Christian Terwiesch on this episode of Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram and subscribe on iTunes!

Peggy Smedley Show
05/21/19 A Connected Strategy

Peggy Smedley Show

Play Episode Listen Later May 22, 2019 12:58


Peggy and Christian Terwiesch, book author and professor of operations and information management, Wharton School, University of Pennsylvania, talk about how connectivity is changing the customer experience. He distinguishes between the different types of connected relationships and how a connected strategy starts with understanding your customer. He suggests that companies understand how to touch customers early on in the journey and how small data can often give insights into customers.

Peggy Smedley Show
05/21/19 A Connected Strategy

Peggy Smedley Show

Play Episode Listen Later May 22, 2019 12:58


Peggy and Christian Terwiesch, book author and professor of operations and information management, Wharton School, University of Pennsylvania, talk about how connectivity is changing the customer experience. He distinguishes between the different types of connected relationships and how a connected strategy starts with understanding your customer. He suggests that companies understand how to touch customers early on in the journey and how small data can often give insights into customers.

Amazing Business Radio
Connected Strategy Featuring Guests Nicolaj Siggelkow & Christian Terwiesch

Amazing Business Radio

Play Episode Listen Later May 21, 2019 29:21


Shep Hyken interviews Wharton School professors Nicolaj Siggelkow and Christian Terwiesch. They discuss their new book, Connected Strategy, and how any company can use the concept to improve their customer experience. The Interview with Nicolaj Siggelkow & Christian Terwiesch:Connected strategy is a concept that allows companies to connect to customers more holistically. By connecting to and anticipating customers’ needs on a deeper level, more value is added to every interaction and transaction that customer has with the company.Customers may be nervous about giving you and your company data. In order for them to feel comfortable enough to share with you, you need to show them a clear value proposition. It is crucial that they feel their data is helping you provide a better experience for them, otherwise they will feel exploited.There is much friction caused by infrequent customer connections. Repeated connections create a positive feedback loop where you are able to add personalization and eliminate friction.Not every customer will appreciate or desire a connected strategy. Predictive analytics can inform you how much connectivity each individual customer wants. It’s important to not create just one type of connected strategy; there need to be options to suit each type of customer.Connected strategy can drive up efficiency and create a more convenient experience for everyone.Parents are the ultimate example of a good company. Their customers are their children. Not only do they take care of their customers’ wants and needs, they are able to predict those needs ahead of time. They are also able to provide what is best for their customers, whether or not their customers are aware of what that is, because they have their customers’ long-term interests at heart. A good company should operate in much the same way.Quotes: “Connected strategies are not just about technology or data. They’re about relieving your customers’ pain points by creating an information exchange.” – Nicolaj Siggelkow “Every business has to answer two questions: the what and the how. What are the needs of the customer and how do you fulfill those needs?” – Christian Terwiesch About: Nicolaj Siggelkow is a Professor of Management and Christian Terwiesch is a Professor of Operations and Information Management at the Wharton School, University of Pennsylvania. They co-direct Penn’s Mack Institute for Innovation Management and cowrote Connected Strategy: Building Continuous Customer Relationships for Competitive Advantage. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio. Learn more about your ad choices. Visit megaphone.fm/adchoices