Roy's Blog: June 2014

June 30, 2014

Why is buying customers a really bad growth strategy?

When companies develop their growth plan, they are very tempted to consider an acquisition as a fast and easy option. After all, if you want to grow revenues by $10 million over the next 24 months, why not buy a customer base that would yield that amount?

“Buying” customers may appear like low hanging fruit to achieve your growth intentions but it isn’t.

On paper, a merger might look like it was made in heaven but it rarely is.

The synergies cited and the common denominator between the two organizations often understate or mask the real challenges facing the marriage.

Integrating a new organization into an exiting one is NOT easy. Culture, operations, policy, systems and procedures differences make the combination anything but seamless and the acquired customers are often affected.

The difficulties in merging the entities are visible to them; their service is impacted and their loyalty wanes. There is no guarantee they will remain after the dust from the merge settles.

The intended growth plan is NOT realized.

There is no low hanging fruit when it comes to growing your customer base.

Nurture and expand your Tribe; those current customers who are with you because they know you and CARE about what you do.

Provide them with more personal solutions; packages of value that will excite them and motivate them to spread your word to others.

Build your strategic game plan around organic growth.

It is a more certain future for you.

Cheers,
Roy

BE DiFFERENT or be dead Book Series

  • Posted 6.30.14 at 03:24 am by Roy Osing
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June 19, 2014

10 proven things great leaders do to influence

Influence others: that’s what leaders do.

With every word they speak; with every move they make.

Here are 10 acts of influence for leaders. They will leave an indelible impression on everyone you touch.

1. Think before you speak. Words are like feathers in the wind. You can’t get them back.

2. Act on your words. Do what you say. People need to get that you follow up with action and are more that a bag of hot air.

3. Honor your frontline.

4. Honor +++++ your frontline supervisors.

5. Cancel internal meetings to be with a customer.

6. Celebrate anything and everything.

7. Laugh a lot.

8. Recognize quirky.

9. Encourage failing fast.

10. Celebrate imperfection.

Cheers,
Roy

BE DiFFERENT or be dead Book Series

  • Posted 6.19.14 at 03:55 am by Roy Osing
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June 16, 2014

Why do the little things kill you?

Like eliminating the free coffee and making people pay $1.50 a cup or chase the coffee cart to get a complementary cup (cause they’re trying to recoup costs).

Like charging for renting an umbrella for the day when inclement weather hits during your vacation (cause they don’t trust that you will return it).

Like having to present a credit card to be served at an outside lounge location (cause they think you will leave without paying the bill).

Little things

Like charging seniors for a wheelchair (cause they want to balance their budget).

Like refusing a mother to board a Ferry because she was 10 cents short of the fare (cause it’s a STUPID Rule).

Like refusing to sell a T-Shirt on display (cause they don’t want to deplete their display inventory).

Like having no idea who you are even though you have done business with them for 10 years (cause they don’t care about YOU).

When will businesses realize that delighted PEOPLE control their destiny?

Take a look at the “little” things you are doing for efficiency, cost and control reasons.

You may be penny wise but pound foolish.

Cheers,
Roy

BE DiFFERENT or be dead Book Series

  • Posted 6.16.14 at 03:46 am by Roy Osing
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June 9, 2014

This is what happens when you create amazing experiences

Most organizations are product and service focused.

They push what they produce or supply at you. They claim their stuff is the best value at the cheapest price.

Research has proven conclusively that people get more long term gratification when they spend money on EXPERIENCES.

A family vacation. A Zip-line ride. Fishing off the beach with the grandchildren. A 4-hour snorkelling adventure? A movie with someone you love.

Sure, a new SUV is exciting at first but it doesn’t take long before it becomes a used car.

With customer gratification comes loyalty, which means that organizations must focus on experience creation if they want to stand-out from the competition and thrive.

A number of companies are waking up to the importance of experiences to their overall marketing program by appointing a Chief Experience Officer (CXO) to be accountable for the creation of “memorable moments” for their customers.

Marriott is one example. Their “EVP, Chief Resort Experience Officer Marriott Vacation Club International” sets the tone for what’s important to Marriott and what customer success looks like.

The CXO works across the organization to ensure that all functions work synergistically to provide a seamless dazzling experience for the customer. Not an easy task to be sure but one that is critically important to move the focus away from flogging products and services.

Dip your toe in the experience pool.

Declare that EXPERIENCES are your end game.

Establish accountability at the most senior level in your organization.

Do it NOW!

Cheers,
Roy

BE DiFFERENT or be dead Book Series

  • Posted 6.9.14 at 03:01 am by Roy Osing
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