The last few years’ have witnessed way too many brands, service brands in particular, losing touch with their customers, even trying to confuse them for profit. This won’t work in the long run. Only truly understanding one another will ultimately deliver mutual value and enduring relationships. Habit5 is in business to help our clients achieve an Outstanding Understanding™ of their customers and we are committed to being better at this than any other research company. Understanding is a key part of the social construction of the self, perhaps the second biggest motivator, after the desire for physical survival. When a brand demonstrates that it really understands a customer it gives them a real buzz, prompts recommendation and sustains satisfaction. There is a growing imperative on brands to demonstrate understanding and deliver value, based upon the data they hold on people, or face losing the right to hold that data. New EU rules on the right to be forgotten are being championed by the EU justice commissioner, Viviane Reding, heralding the prospect of serious fines for companies that refuse to honour requests from customers to erase personal data. There is no better time to get better at understanding and acting upon it than now!
We believe the brands that understand best, demonstrate this understanding and are in turn understood by their customers will do best in their markets. We don’t think that this is simple or easy. But we do believe that it is central to sustainable commercial success; for our clients and us.
