Last night before going to bed one thought would not leave me alone. I kept thinking that if I go out of business will I be missed? Will my customers miss me for my goods of services that I contribute or will they simply go to the next supplier and be equally happy using them without feeling the pinch of me no longer being available for them to call upon.
As simple this thought seems to be, it is indeed quite an important one in my humble opinion. Important enough to distinguish between a successful and sustainable business to a one that is a losing battle and a waste of space and energy. We all see too many businesses trying to succeed and often they simply don’t have this key ingredient of success; the addiction factor.
Some questions you can ask yourself as a business owner to know how addictive you are:
- Do your customers line up in front of your store every time you launch a new product or do they not notice or care about you at all?
- Do your customers talk and rave about your brand to all their friends or do they feel sorry that they did business with you in the first place?
- Do your customers call upon you at least once a month or do they only come to you only once and never again once they experience the average product or service you are offering?
- Is your business’s products, service and experience leaps and bounds ahead of the next alternative?
- Do your customers come to you because you have built a deep bond with them over the years you have been servicing them or do they simply come to you because they happened to just stumble upon you or have been attracted by your heavy marketing investments and most likely won’t even remember your name one year down the track?
- Does your business make passionate love to your costumers in your every interaction with them? Do you make your customers feel very special by providing them am amazing product experience or service?
I feel that one of the secret to success in business in today’s day and age is to have enough gap in the value you provide to your customers, that they simply cannot live without a dose of you once in a while.
Some examples of remarkable vs average businesses in some popular industries:
Apple - Every time Apple has a product launch, customers line up in front of their store from the day before and stay up all night in the excitement of being one of the first to purchase and experience the new product. Samsung just launched 7 new categories of laptops, I bet you didn’t hear about that or simply don’t care.
Google or Facebook – Just imagine Google or Facebook shuts down over night. You can’t, can you? Do you think they will be missed?
Mercedes-Benz – Is there really an alternative to a Mercedes Benz? Many have tried and keep trying, but there is simply no alternative to perfection. 86% of Mercedes Benz owners never go back to any other car once experienced it, now that’s addiction.
Disney – Imagine if Disney shuts down, will all the kids of the world miss them? Cry for them? Want them back?
Coke – Walking through the food court yesterday afternoon, I saw at least 20% of the people sipping on coke. My guess is that they have been sipping on it for many many years and they will continue to do so for many more years. With over 500 choices in soft drinks available, it’s amazing to see Coke still being the market leader.
I believe that the Addiction Factor doesn’t only apply for big businesses, but even small businesses. May it be your local take away store, coffee shop, grocery shop, tailor, bank, broker, car dealer, taxi driver, bakery, doctor, personal trainer, gardener, computer shop, jeweller or juice shop.
Today, I am going to think about my business and plan all the necessary changes so that I too can be proud of building a business which customers are totally addicted to, can’t live without and talk about me to all their friends; and I encourage you to do the same.
John Singh.
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