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Innovating to Meet Evolving Customer Needs
Situation
Shifts in consumer and business mindsets around waste along with broader societal awareness of ‘sustainability’ were driving increasing customer demand for alternative waste solutions such as robust recycling, zero-landfill, and closed-loop “cradle-to-cradle” material use, which challenged this leading environmental services company’s existing business model. Further, new and existing competitors focused on providing these alternative solutions were increasingly getting customers’ attention.
Insights
The company recognized that to capitalize on these new growth opportunities, they would need to develop more strategic relationships with customers and succeed in an increasingly competitive landscape. With some parallels to electric utility companies going from thinking about ‘rate-payers’ to thinking about customers with specific needs, our client had to refocus their service approach on their customers, whose needs were now broader than the traditional services that the environmental services company once provided.
Results
Initial results already show a significant shift in the business. The company had had success with customers to deploy solutions that leverage a robust existing asset base while providing innovative zero-waste and closed-loop results, and had implemented a structure and process to consistently and repeatedly develop tailored, scalable solutions for customers. Most importantly, the executive team is committed to the on-going evolution of their business model and to leading the industry.
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