Weekly Business Idea

October 26, 2018 – Is Coffee Better in a Mug or a Yeti?

Posted on | October 26, 2018 | No Comments

Main Idea:

Are your sales process efficient and oriented towards completing the transaction?  Do you know what your customers are experiencing when they buy your products or services?  Should your customers feel something or is giving them a good product in exchange for money enough? What do you want them to experience?

Expansion of the Idea:

A few years ago, my brother gave me a Yeti for my birthday.  Yeti’s are amazing.  They will keep coffee hot or drinks cold for a long time.  I don’t know how they do what they do but it is phenomenal.  However, the other day I was reminded of something that I miss when I am using the Yeti.  If you like coffee, the smell is probably part of the experience.  It may not be the main thing but it is something that I like.

This led me to think about our small businesses.  Too often, we focus on efficiencies and metrics, and we miss the little extras. These extras could be something as simple as the smell in your office.  I know real estate agents will frequently advise home sellers to bake bread prior to having an open house.  The freshly baked bread smell helps create positive impressions of the house.  Sometimes, extras could be a giveaway.  Insurance agents frequently give away calendars and travel guides.  This might seem stupid in today’s environment of everything being on our phone, but some people like those extras.  In my case, I do one thing with tax returns that I believe has helped with client retention.  If a client owes money and it is unexpected, I call them to explain what happened.  This helps them get control of the situation.  I know I am not perfect in providing service.  The act of calling clients shows them that I do care and I am trying to help them.

Customers buy from us for a lot of different reasons.  In today’s environment of having to compete with businesses across the globe, it is too easy to focus on cutting costs and improving efficiencies.  Obviously, we need to be as efficient as possible.  However, this is one of the areas that we can differentiate ourselves from our competitors.  Our customers have a lot of choices for where they can get the products and services we sell.  Adding a smile to the interaction or doing something to personalize the experience may not cost much, if anything, but can mean all the difference.  And if you doubt that, consider how far Southwest Airlines has gone with their primary differentiator being the friendliness of their people.  As much as the other airlines try, they don’t seem to be able to match that.

Creating shared experiences can help cement relationships.  If you provide that little extra, it is cheaper than trying to get new customers and you can have a lot more fun in your business.  The question for you is:

What is your extra?

 Questions to Ponder

  1. Have you been running your business efficiently?
  2. Do you manage your business by metrics?
  3. Do customers get a good feeling when they deal with you?
  4. Do you have a high retention rate?
  5. Is there something that you can add to the service that would be valued by the customer and won’t cost you a lot of money?

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  • About

    These weekly ideas are brought to you by FitzGerald & FitzGerald P.C. For more information about how to use these ideas with your small business contact Tim FitzGerald at trfitz@fitz-net.com.