On 15th September 2021, Forbes published Chris Martin’s first article on their online publication entitled 3 Creative Ways to Become More Market-Oriented. In his article, Chris explores the how the need for being market oriented first arose and how the original definition and need has evolved over time.
Chris Martin was recently accepted into the exclusive Forbes Agency Council, which means he will be a regular contributor to the Forbes publication. So far Chris has contributed to collaborative articles on topics such as TikTok and social media mistakes, this first article is Chris’ first solo foray into the world of Forbes.
3 Creative Ways to Become More Market-Oriented
Market orientation is a considerable task for most businesses, and requires a variety of insights to reveal the true nature of the consumers stakeholders are serving as well as the competition they’re up against. Chris proposes three creative ways businesses can better orient themselves towards the market they’re operating in:
1. Create a Customer Insight Engine
Chris introduces the first creative way to be better market-oriented, which is to create a customer insights engine. Market orientation involves both the responsive generation and dissemination of high-quality data – something that can be quite tricky to achieve. An insights engine filled with willing customer participants data generates data that is capable of positively influencing transformational strategies.
2. Cultivate Informal Lines of Communication
The second way Chris mentions is to create many lines of informal communication, so that the data generated in the insights engine can flow throughout the business and influence strategies at all scales. It’s important not to underestimate how much useful innovation and inspiration comes from informal channels and ‘water cooler’ chats, and so these channels of communication should be encouraged wherever possible.
3. Build a Customer Advisory Board
The last tactic Chris would urge businesses to consider, is setting up a customer advisory board. Our own experiences with such a board have been extremely fruitful, as there’s no substitute for simply talking to your target market. These boards are great tools, broaching conversations both simple and challenging, and generating insights that can help businesses change with the evolving environment.
Finally, Chris closes by exploring the future of customer closeness, and the need for more firms to familiarise themselves with what it means to be market-oriented. Want to learn more, read the article in full here.
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