Most companies have no clue as to why their customers are their customers. - Strategy Perspective

If you ask many businesses why their customers keep buying their products, the initial line they will use will be "it’s because their products are superior in quality". But that is never the case. The reality is that there is barely a product or service in the market today that the customer cannot get somewhere else for the same price and relatively the same quality. If you are the first to invent a particular product, of course, you will have it shine in a couple of months and soon, a replica will be out somewhere else. Most companies have no clue why their customers are their customers and in the same vein, they do not understand why their employees are their employees.?

If the above is the actual reality, how do you know how to attract new customers or employees, or better yet, how to motivate them to stay loyal to your business? Most companies are making a lot of decisions today based on assumptions and, in some cases, flawed or limited information.?

The truth is, there are only two ways to influence human behaviour, you can either inspire them or manipulate them. In both business and politics, manipulation is rampant. Businesses use tactics such as dropping the prices and running a promotion while politicians use fear, peer pressure or promises to bring innovations. So, whether in politics or business, as long as you do not have a clear understanding of why people want your products, you will end up using manipulation. Unfortunately, manipulation works.?

Designing the right strategy for your business will always require you to make the right decision, use accurate information and make assumptions that are not misguided. Many are yet to come to that level when it comes to designing the long-term strategy of their business and the easiest way to achieve this is always to start with the WHY.

When you focus on the "why" based on what you want to achieve with your product or service, you shift the narrative from simply what you offer to the impact you aim to create. This "why" becomes the driving force behind your business decisions, shaping everything from product development to marketing and customer engagement.

For example, if your product is a health supplement, your "why" might not just be about selling a health product. Instead, it could be about empowering individuals to lead healthier, more fulfilling lives. This purpose guides how you design your products, the way you communicate with customers, and even the partnerships you form. When your "why" is clear and aligned with what you want to achieve, it resonates with customers who share that same goal, creating a deeper connection and fostering loyalty.

In essence, by defining your "why" around the outcomes you want to achieve with your product or service, you create a powerful narrative that goes beyond the product itself. It’s about the change or value you want to bring into the world, which not only attracts customers but also inspires and motivates your team. This approach helps ensure that every action you take is aligned with your broader mission, leading to more consistent, purpose-driven success.