Written by KBA Director, Colin Wilson
Key Business Advisors is proud to be an accredited partner of MarketCulture, who designed the Market Responsiveness IndexTM (MRITM) – a tool used to measure the culture within organisations. According to the 2015 award-winning book The Customer Culture Imperative, written by Dr. Linden Brown and Chris Brown, today’s businesses need to take a serious look at how strong their customer focus is within their organisation, and whether staff within all departments of the business are committed to achieving better sales results through the retention of customers.
I delivered a program based on MRI last year with a company called MKS Group, an accountancy practice based in Moonee Ponds, Melbourne. MKS was looking for a point of difference in the marketplace, and believed this could be achieved by cultivating a more customer-centric culture within their business. We conducted the MRI program and workshopped specific ways for MKS to improve their focus on, and engagement of, their valued customers, which in turn would generate more referrals for their business.
At the annual Panalitix Conference in April this year – #THEPAC2017 – MKS Group was awarded for ‘Service Excellence in an Accounting Business’. This was an outstanding achievement and provided testament to the business’ efforts to create a business which truly puts their customers first.
So, what is the Customer Centric MRITM Model and what is its purpose?
The purpose is to establish a cultural baseline for the organisation and gain an insight into its key cultural strengths and weaknesses. This assessment serves as a catalyst for change. It provides the leadership team with an unbiased third party appraisal based on thirty years of research.
The Market Responsiveness IndexTM (MRITM) includes the following 8 Dimensions:
- Customer Insight: Measures behaviours related to understanding and acting on current customer needs and satisfaction.
- Customer Foresight: Measures behaviours related to understanding future customer needs and attracting potential customers.
- Competitor Insight: Measures behaviours related to monitoring, understanding and responding to current competitors’ strengths and weaknesses.
- Competitor Foresight: Measures behaviours related to monitoring, understanding and responding to new market entrants and potential competitors.
- Peripheral Vision: Measures behaviours related to monitoring, understanding and responding to trends in the larger business environment, across a national and global level.
- Cross-Functional Collaboration: Measures behaviours related to interacting, information sharing and working cooperatively with colleagues from different work areas.
- Strategic Alignment: Measures behaviours related to aligning work and outcomes with the firm’s overall vision, mission, values, objectives and strategies.
- Empowerment: Measures the extent to which employees perform leadership behaviours and are empowered to make decisions, act without explicit approval, propose new ideas, influence others and control the way their work is performed.
Many businesses struggle in getting this process right. What is the purpose of having a Company Mission, Vision or Values Statement if staff are not on board in delivering the best outcomes for their customers?
You may need experienced help outside your business to create an effective customer-centric culture in your organisation. Key Business Advisors are here not only to help your business take the step from good to great, but to ensure your business achieves continued success well beyond 2017.
FREE OFFER! The first 3 customers who enquire about conducting a workshop for their business will receive a free copy of The Customer Culture Imperative. This will be sent directly to you upon your enquiry of interest.
Contact Key Business Advisors on 1300 4 ADVICE