Posts Tagged ‘Value’

I’m a huge fan of Seth Godin, not sure of his title beyond author, but I’d call him a biz futurist.  In a recent blog (click here to read it) he shares some insightful thoughts on competition.  Seth’s gift is to inspire thought — and for the intelligent few, action.  He notes that “competition is everywhere, we just forget to notice it”.

competition

I’m fond of often saying that our greatest competition is ourselves — our limiting thoughts, hesitancy to act, refusal to commit, failure to communicate, etc.

All businesses have competition in the other common industry providers — all fighting for the almighty market share.  What about the other competition we face, but not directly?

If your product or service is a choice — recreation, health and wellness, entertainment, child care, nutrition, vitamins, or consulting it may fall into a consumer’s or business’ discretionary spending.  You compete with EVERY other alternative commodity that can be purchased.  Instead of your consulting services, the company can choose to give every employee monthly movie passes, gym memberships, bonuses or car allowances.

Look beyond your inter-industry competition to make sure you are providing constant value to your customers, clients or members.  Competition is everywhere, notice it.

Be remarkable, not replaceable.

p.s.  Seth has a new book out titled “Linchpin” — let’s do ourselves a favor and buy it.

I know this is challenging and difficult for some to grasp, but they’re likely sitting around a table scratching their heads wondering where their customers went.  In fact, they may even create a 500 page manual dedicated to it.

Fasten your seatbelts, here it is:

Customers have goals.

Customers use your product or service to achieve goals.

Customers leave when they do not achieve their goals.

Know their goals, guide their journey to achieving their goals.

Be remarkable, not replaceable.

I excitedly opened the link from Marketing Charts sharing the details on the top ten retailers for 2009.  It’s always a treat and can be a great source of new trends or strategies.

Imagine my disappointment (not really, I shop at 3 of them) when the top 5 and 7 of the 10 were online, television or catalog retailers.  Really weird too that Kohl’s and Nordstrom were tied for 10th, so I guess there are eleven top ten retailers.  Kohl’s and Nordstrom — opposite ends of the demographic socio-economic target spectrum.  Though I do know some people that will browse Nordstrom and then cruise over to Kohl’s to buy.

It got me thinking as I cruised each site that even though members enter my facility 3 or 4 days a week, are they also expecting a digital experience?  Will a digital experience engage them even more?  Could a digital experience grow our business?  Could it grow our retention?  What should that digital experience look like?

geek Pictures, Images and Photos

Stay tuned as I wrestle with determining how to enhance a member’s physical experience with a digital one.  And any advice or thoughts would be greatly appreciated — I can pay in coffee, lunch or adoration.

Be remarkable, not replaceable.