Episode 23 - Jim Blasingame on the Age of Customer Relevance: Human Connection in a Digital World

Industrial Growth Institute

Jim Blasingame on the Age of Customer Relevance - Industrial Growth Institute Podcast Episode # 23 with Ed Marsh

Summary

Jim Blasingame, a consultant, strategist and futurist, chats with host Ed Marsh about the importance of capitalism and the concept of abundance. He emphasizes the need for businesses to adapt to the digital age and prioritize relevance in order to succeed.

Blasingame also highlights the significance of storytelling in connecting with customers and building relationships and shares insights from his book, 'The Age of the Customer,' which focuses on the impact of digital transformation and the customer's control over interactions.

Additionally, he discusses:

• the importance of helping customers and their customers
• challenges faced by industries slow to embrace change
• impact of the 2008 GFC (great financial crisis) on business decision-making
• importance of veterans in the workforce
• value of building customer communities
• need for leadership and ownership transitions in businesses
• the power of analog human connections in a digital age.

Takeaways

• Capitalism is the only ideology that continues to work and provide abundance.
• Businesses must adapt to the digital age and prioritize relevance to succeed.
• Storytelling is a powerful tool for connecting with customers and building relationships.
• Helping customers and their customers is crucial for long-term success.
• Industries that are slow to embrace change may struggle to stay relevant. The 2008 financial crisis had a significant impact on decision-making in businesses, leading to a shift in authority and decision-making power.
• Veterans bring valuable skills and attributes to businesses, including organization, discipline, and decision-making abilities.
• Building customer communities and demonstrating values are essential for businesses to attract and retain customers in the digital age.
• Leadership transitions and ownership transitions are critical for the growth and success of middle-market companies.
• Analog human connections and high touch interactions are still essential in a digital world.
• Businesses should focus on loving and nurturing their customers to build long-term relationships and loyalty.

Takeaway Quotes from Jim Blasingame

• "Capitalism is ugly and complicated and unfair and brutal. It can be lots of things that are not so sweet, but still the only one that works."
• "The best way to describe capitalism is abundance."
• "Help your customers help their customers. If you want to have loyal customers, you can't just be transactional."
• "After 2008, that person who'd maybe been with the company 20 or 30 years was no longer there. They were replaced by a younger person who was given no budget, no authority."
• "I used to call on the president of that company, the CEO of that company. And I'd go in there and I'd say, hey, George, I got this idea here. And George would say, how much? About $8 million. And George would reach over and push the button and say, send bill in here or Mary in here and Mary would come in a VP a senior VP and George would say here Jim wants to do this make it happen."

Check out Jim's website

LinkedIn: Jim Blasingame and Ed Marsh

Twitter: Jim Blasingame and Ed Marsh

Instagram: Ed Marsh

YouTube: @EdMarsh

Show Transcript

Chapters

00:00 Introduction and Jim Blasingame's Background 02:11 The Power of Capitalism and Abundance 06:37 Adapting to the Digital Age and Prioritizing Relevance 10:19 The Role of Storytelling in Connecting with Customers 14:17 Helping Customers and Their Customers 43:13 The Impact of the 2008 Financial Crisis 46:32 The Challenge of Decision-Making in the Digital Age 51:31 The Importance of Being a Generalist 53:46 The Value of Veterans in the Workforce 59:15 Building Customer Communities in the Digital Age 01:02:34 Leadership and Ownership Transitions in Businesses 01:09:23 The Struggle for Proficiency in Hobbies 01:10:44 Preparing for the Silver Tsunami 01:14:51 The Power of Inorganic Growth 01:17:10 Creating Content and Overcoming Perfectionism 01:21:20 Analog Human Connections in a Digital Age 01:23:32 Loving and Nurturing Customers for Long-Term Success

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