The single common denominator for wildly successful companies is a unique corporate culture that encourages employees to rise to their potential and includes customers as part of their team. The advantages of such a culture are many, but the greatest one is the inability of competitors to replicate the formula.
Retention
In the quest for better analytics, improved efficiency, and lower costs, many companies have forgotten why their customers shop with them. The shopping experience is critical to long term relationships. Customer loyalty begins with positive interactions between your customers and employees.
There is a new customer in town. She hits your website with a vengeance, intent on buying. At first, she seems like the perfect buyer. She didn’t have to be recruited, she found you. She clicks through your site until she finds the perfect item and places her order. Then, she disappears.
If your marketing plan consists of one sales promotion after another, your marketing team* is coasting. They are not being creative and stretching the limits. They are parked in a comfort zone and won’t move until an external force applies pressure.
During this crisis, some station owners saw an opportunity for a quick profit and raised the prices. I’m sure they will cite supply and demand as the reason. Maybe it will even work. But, the management at Sam’s Club took the high road. They developed a plan and dedicated additional staff to make it work. When I asked at the membership desk, the associate said that they had seen a “bump” in new memberships.
