Posts Tagged ‘customer’
Offering the Best to Your Best Customers
Understanding the consumer is more important now than ever. So why not focus on our most profitable patrons?
The classic 80/20 principle claims 20 percent of all customers generate 80 percent of the demand. For example, heavy users make more than 60 percent of fast-food visits, but they only account for one of five fast-food patrons. If we can understand what these super-consumers want and then offer it to them, it will be mutually beneficial.
Tap into Your Super-Consumers reinforces this philosophy. Some of the examples provided by author Eddie Yoon boast a 20% increase in sales and a migration to the top spot within the respective industry. If companies keep brand-loyal customers happy, they will continue to come back for more.
Research can help us make informed decisions. Interviews, focus groups, surveys, questionnaires, and observation can all be useful tools. However, knowing the right questions to ask is equally important. It’s important to ask your best customers what matters most to them.
Are your star patrons looking for additional features, distinctiveness, better quality, improved service? Most consumers will pay a premium for their ideal product. It’s up to us to give them what they want.
I Want My MTV Logo!
MTV has taken building interactivity and community into a brand strategy to the next level. They are giving their fans complete creative control over their branding. Today I came across this really cool website that allows people to submit their own version of the MTV logo, and if enough people like it, it will be used on the MTV website. How cool!
MTV’s brand strategy had a humble beginning. For those of you who haven’t noticed, MTV doesn’t really stand for “music television” as it once did. MTV is synonymous with “pop culture,” so why not choose a logo that represents the same.
Frank Olinsky, Pat Gorman, and Patti Rogoff, young independent designers at the time, created the first MTV logo. The original design consisted of a blocky 3-D “M” with a graffiti-scrawled “tv” on top of it. In the spirit of pure-nonconformity – rather than choosing “corporate colors” for the logo, they decided that the logo should always change, as music, art, and culture changes. Over time, it has changed size and style, but the fundamental logo design has stayed consistent. The ever-evolving design has kept the brand strategy current and trendy.
Now that’s what I call brilliant design!
Jobs’ Health = Apple’s Health
What does Steve Jobs’ health have to do with Apple? EVERYTHING! He is not only the CEO of Apple, he IS the Apple brand. When there is a possibility that the leadership of a company is facing a life-threatening illness, it could mean serious speculation about the strength of the brand.
Steve Jobs has intrigued me ever since I watched the Steve Jobs Stanford Commencement Speech 2005 on You Tube. His speech was amazing. It was an inspiring story about the many ups and downs in Jobs’ life. He is an amazing storyteller. This speech builds trust in him and the Apple brand.
Steve Jobs Stanford Commencement Speech
In his speech, he was candid and open about his heath struggles. So, why the change of heart? Why is he so secretive about his health now?
Because the possibility of Jobs leaving the company could mean a HUGE loss for Apple-both physically and financially.
Yes, there are laws to protect employee privacy when it comes to health. However, from a PR standpoint, withholding this information could be detrimental to the health of the company.
With the launch of the new iPhone convergence, Apple would be taking a huge risk by disclosing Jobs’ liver transplant. (Mind you, he received this transplant because HE was the sickest person on the transplant list.) I agree with Laura Ries’view on the iPhone craze. Apple may dominate the market right now, but they still have strong competition and Jobs’ health could stop the juggernaut in its path. The mere speculation of Jobs’ health could cause problems for Apple.
The SEC is currently trying to pass laws that force companies to disclose the health of CEOs. This is controversial, but could be necessary if companies want to please their shareholders and improve brand equity. If CEOs choose to be the spokespeople for their companies, they should be prepared to live in the limelight in all aspects of their life. After all, they are a direct reflection of the brand!
