2012 Business Resolutions

A recent NYT's article indicated that by the end of January, 36% of folks that make a New Year's resolution will have already lost their battle.   The article was really focused on personal objectives.

Which got me thinking.  How many people make business resolutions?  And as we approach the end of January 2012, how are they tracking in the New Year?

My guess is that more business objectives are jettisoned early.  Before the New Year starts, you reflect upon the ups and downs and plan some strategies of change.   However, as the waves of everyday tasks starts hitting, change slips away.

I can tell you one area that business needs help in  is consumer insight.  I am not sure how many resolutions are made to improve this area.   Much overlooked but highly important.  Getting closer to the customer in our very dynamic world can only provide benefits in the longer term.   Advertising and research have always been spends that are hard to evaluate on the back side.   The spending scales are heavily tilted to the the former with insight/research getting the last allocation and the first cut.  However,  not incorporating Voice of Customer (VOC) into your business has devastating long term impact.

Do yourself a favor and spend a few minutes evaluating how you incorporate VOC into your business.  Look at your advertising to research spend ratio.  Do you wish you had more consumer input on initiatives to help guide internal stakeholders? Lets face it, the world of traditional research providers has not kept up with the pace of change.

Hold onto at least one business resolution this year- challenge your current practices and educate yourself on the evolving technologies. For VOC, you may just find that new methodologies can save you money and increase your insight and innovation.


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