From the Simply Do Ideas Blog

Why investing in Customers is Key to New Value Creation - seminar round up

By Joseph Murphy on June 6th, 2018

Senior Business Manager, Joseph, gives his thoughts on guest seminar 'Innovation, Technology and Human Capital' by Michael Schrage of MIT.

What comes first - the Miner or the Coal?

The coal - right?

Be The Spark welcomed MIT and Sloan Management School fellow Michael Schrage at Dev Ops Guys in Cardiff's Capital Tower this morning and his emphasis was squarely on the Miner, not the coal; The Driver, not Ford's groundbreaking assembly line and the User, happily clicking away, rather than the Search Engine.

It seems obvious. Focus on making your customers better at what they do, and they become better customers, lengthening and strengthening Customer Lifetime Value, marketings 'Holy Grail'.

But then, when we set the Key Performance Indicators for teams or a company the emphasis can often be on what we extract from the customer financially rather than this broader, and potentially more valuable, investment in human capital.

This shift in perspective certainly provided me with food for thought as we engage with an eclectic mix of companies and educational establishments through our ideation platform, where "users [can] create value for users."

Not only this, but it's also crucial that we too invest in tools and processes that enable our customers to become better at turning ideas into solutions, creating new value for themselves or clients and companies within their business community.

Bearing all this in mind, then, does the chicken come first?

Photo credit: Be The Spark