When our competitors have deep pockets, we do better to focus on our customers’ success. By understanding their challenges, we can find new and better ways to grow with them. You can read this article by Sunil Gupta of Harvard Business School to learn how companies like Amazon are doing it.
Harvard Business Review Blog: Are You Really Innovating Around Your Customers’ Needs? October 1, 2020 by Sunil Gupta, Professor at Harvard Business School:
Traditional retailers are under enormous pressure from Amazon and other e-commerce players. Many believe that part of their disadvantage is that they can’t track their customers in store, and so they’re investing in technologies that will help them do this…. Instead of throwing sophisticated technology at a general challenge (tracking customers) these companies might be better served by identifying and solving specific customer problems.