Getting to know your customer

Getting to truly understand your customers goes beyond the limits of conventional market research and opinion polls. It requires an immersive experience, a philosophy exemplified by "Vellayan Subbiah" during his tenure at Cholamandalam Investment & Finance. In February 2016, he embarked on a distinctive journey, stepping into a customer's truck for a 50-hour expedition from Delhi to Mumbai to get a grip on the nuances of their customer's daily lives.

Subbiah reflected on this experience, saying, "I realized that I didn’t actually know what one of my customers did from the time they woke up to when they went to sleep at night, and it was important for me to understand that." This journey transcended a mere road trip; it was a shared venture. Subbiah, alongside the driver and helper, shared meals, facilities, and even bathed openly at roadside dhabas. Through this, he gained firsthand insights into truckers' preferences for retreaded tires, leading to slower speeds to avoid potential tire bursts.

While the road trip was enlightening, Subbiah's overall trajectory at Cholamandalam Finance was transformative. Around 2009, the company encountered challenges due to a struggling partnership with DBS Bank. Assuming the role of Managing Director in August 2010, Subbiah, an alumnus of IIT Madras, orchestrated a remarkable turnaround. His leadership showcased a dedication to understanding customers at a profound level, converting challenges into opportunities for growth.

There is no better way of getting to know your customer, than visiting them. Once you know your customer, I am sure we will not look at the job the same way again!