How Stupid Companies Treat Customers

Memo to senior execs: Your customers have changed greatly over the past decade, but, in many cases, you haven't made the adjustments necessary to accommodate their expectations. At least, this is the message conveyed in the book, "Smart Customers (Stupid Companies): Why Only Intelligent Companies Will Thrive, and How to Be One of Them" (Business Strategy Press/Available in May). Authors Michael Hinshaw and Bruce Kasanoff present a candid perspective on how organizations are falling far behind in recognizing and responding to the growing sophistication and empowerment of consumers. Of course, technology is fueling much of this revolution, especially with respect to the cloud, mobility, social media and the ever-growing bring-your-own-device trend. But an underlying reality is decidedly old school: If customers think they can get a better product or price -- or if they've had a bad experience with a company -- they'll go somewhere else. Hinshaw is president of MCorp Consulting, which helps corporate clients design and measure customer experiences. Kasanoff runs NowPossible, a strategic marketing/innovation consultancy. For more about the book, click here