How can your company stay Evergreen?

In the winter, most flowers wither and die, yet some, despite deep snow and severe winds, stay green all year. In many ways, it’s the same with businesses. Some companies appear to have a formula for keeping current. What is their formula for success?

Great content, an active customer community, and ensuring that people understand what your company is all about are all crucial for any company that wants to grow over time, as Noah Fleming’s book Evergreen: Cultivate the Enduring Customer Loyalty That Keeps Your Business Thriving illustrates these methods, when paired with a strong focus on your client relationship, will assist you in creating a really evergreen firm.

Bringing a Christmas tree home in the midst of winter is a great experience. Outside, most of the trees are bare, but you can smell strong green pine in your living room. A sense of renewal and new vigour is also necessary in business. Isn’t it possible to make your company as enduring as that Christmas tree?

To establish an evergreen business, remember the three Cs: The Character, which is the company’s cornerstone, sustains the Community, a group that benefits from the firm’s Content. Character, the first C, denotes the brand’s uniqueness and personality. This isn’t only about the company’s background. When we say “narrative,” we’re referring to something like this. Do you remember the people who started building computers out of their garage? Steve was the name of their company, and they were both named Steve. Apple.

You might have also heard of a student who was bitten by a spider on a field trip. The next morning, he awoke with exceptional climbing ability. What was that person’s name again? Spiderman. That is the essence of character.

Community is the third C, and it’s all about leveraging people’s inherent need to connect with one another. People who share our interests, perspectives, and values are naturally drawn to us. As a result, firms should help to establish or nurture brand-aligned communities. Take the software giant Adobe, for example, which has a number of online forums where thousands of customers may discuss and learn about the software.

How about the final C? The content of the organization’s products and services is referred to as content. Customers receive this as the major advantage in exchange for their money, but there is much more. Customer service, marketing, and logistics are all intangibles that help a company succeed.

Now that we’ve sketched out an outline, let’s look at how the three Cs concept works. Someone should be able to explain your business to you as if you were a friend. As a result, you must establish the company’s personality in a direct and vivid manner. Make your company as transparent as possible, since this will help your customers trust and feel loyal to you.

Don’t just strive to express what you do to begin building the personality of your organization. Instead, think about why you do what you do. This is something Apple excels at. Apple’s famous “think different” commercial, which featured Gandhi and other heroes, was essential in communicating the company’s spirit, and Apple’s character is all about thinking and behaving differently. And that is precisely what purchasers receive when they purchase an iPad.

To begin building your company’s identity, don’t only strive to express what you do. Think about why you do what you do instead of what you don’t. This is something that Apple excels at. Apple’s infamous “think different” commercial, which featured Gandhi and other heroes, helped the company communicate its personality, and Apple’s personality is all about thinking and behaving differently. When you buy an iPad, you get just that.

As you can see, displaying the personality of a firm is critical. But this isn’t about creating a caricature of your business; you need to portray something authentic and honest. Zappos, a shoe retailer, does this by making product trailers to go along with item descriptions. These videos include real employees of the company, not models, displaying every detail of the shoes, including the odd objects at the ends of the laces.

These videos show Zappos in two ways: as a company that is 1) enthusiastic about its products and 2) employs people who are committed to providing outstanding service. (Zappos also has a stellar customer service reputation.) The character of a corporation serves as the foundation for all it does. It helps companies make better decisions by directing consumer connections.

When you get out with your best friends, you’re bonding on a deep level. When you go to the store, you’re making regular mercantile transactions, like exchanging money for a pound of coffee. The difference is that you and your friends are a group.

In fact, businesses should strive for this as well, because word of mouth can help a business create its brand. For example, CrossFit has a considerable following. Every day, thousands of people go to CrossFit.com to see the Workout of the Day (WOD). Anyone may do the WOD at home and compare their performance by publishing them online. In addition, this process is entirely free!

The CrossFit brand has been bolstered by this type of community building, which has helped it reach new heights. The fitness business began with only one facility. In 2006, there were 18 gyms in the city. There are currently over 8,500 CrossFit gyms around the world. In just eight years, that’s a 47,122 percent rise.

Community not only helps firms recognize and handle client demands, but it also helps them support their brand. By holding public events, Harley-Davidson has developed a strong community. Employees – and the organization as a whole – now have a direct channel to its motorcycle-obsessed clients.

Harley-commitment Davidson’s to community began in the 1980s, when the company was going through a difficult period. But embracing its customers paid off: now, Harley-Davidson is the world’s largest motorcycle firm, with consolidated revenue of more than $6 billion in 2014.

So as you can see, building strong communities plays an important role in creating the kinds of deep connections – not just transactions – that keep a company going.

When you walk into a restaurant, what is the first thing you notice? It’s most likely not the food. That’s odd, because most restaurants would definitely claim to be in the food service industry. That’s how many businesses operate: we focus too much on what we do — our products and services – rather than how we do it. However, content – the third C – isn’t only about the company’s products; it’s also about the experience.

Chipotle, for example. The informal Tex-Mex chain has always recognized it intended to provide more than just burritos. Customers can customize their orders with fresh ingredients at Chipotle. Customers will enjoy an appealing experience when those distinctive touches are combined with Chipotle’s fantastic locations and dining areas.

And the restaurant’s dedication to high-quality content has paid off handsomely: With a $85,000 loan from his father, Steve Ells launched Chipotle, which now has 1,595 outlets and $3.21 billion in yearly revenue.

Dell also provides a variety of customization choices, allowing consumers to construct a device that suits their specific demands and provides greater value than a standard computer. This is a crucial point: by altering the experience and thus adding value, any product or service can be transformed into amazing content.

In 2009, for example, Uber focused its eyes on revolutionizing the taxi sector. A taxi ride is, at its most basic level, a simple service that transports someone from place A to point B. Uber, on the other hand, provides that service, but it has fundamentally altered the experience. You can order a car and pay automatically through the Uber app instead of hailing a cab and paying with cash. In cities like New York, this has entirely disrupted the taxi sector and transformed the transportation scene. Uber has expanded to 34 countries and over 90 cities in just six years.

What adjectives would you use to characterize your ten closest friends? As 37.3-year-olds with 2.5 kids and 1.2 automobiles? Most likely not. Unfortunately, most businesses regard their clients in this manner. However, segmentation and archetypes are a better means of getting to know your clients than thinking in terms of averages. And the most effective way to do so is to combine demographic and behavioral data, which indicates who your consumers are and what they do. You’re essentially trying to create a customer straw man, as author Keith Eade described it.

Simply ask questions about gender, age, education level, income, interests, spending patterns, and so on to get this information. Of course, you must provide incentives in order for individuals to respond to your inquiries. One of the author’s clients holds a monthly lottery to that end. The lucky winner will receive a month’s worth of free lunches. To enter, you must complete a brief survey.

Of course, you’ll need some sort of database to keep track of everything. That doesn’t imply you have to spend a lot of money on software. Instead, organize comment cards and data from application forms, or create a simple spreadsheet with all of the data.

This database can be used to track RFM (recent business, frequency, and monetary value), which stands for recency (when the customer last did business), frequency (how often they do business), and monetary value (how much they spend). This system gives useful data that you may use to extend promotions to customers who make frequent purchases or reach out to consumers who make infrequent purchases in order to keep their business. At the end of the day, the most important thing is to know who your consumers are and how they behave. So, rather than reducing people to a single excessively generalized caricature, seek out genuine insights.

Your wallet is undoubtedly stuffed with membership cards from a variety of companies. The majority of these are linked to loyalty programs that reward customers for their purchases. Do these types of deals, on the other hand, make customers more loyal? Customers that have the potential to become more loyal are prioritized in the most effective loyalty programs, rather than those who are currently loyal.

Customers collect points in most membership schemes, and there is no distinction between different categories. Companies risk losing both top-tier clients and those who have the potential to become more loyal if there are no progressive incentives in place. Because earning points can make customers feel undervalued in various circumstances. Because of the low worth of the points, the Delta Airlines bonus scheme has been dubbed “sky pesos.”

Starbucks, on the other hand, has a successful loyalty program. Because the company’s primary focus is on borderline-regular clients, these groups receive more special offers than regular customers. Starbucks loyalists still get prizes, but they aren’t as generous. In many situations, users must pay a membership fee to participate in the top loyalty programs. Amazon’s “Prime” service, for example, costs $99 a year and includes free two-day shipping, full access to Amazon’s Kindle library, and other special discounts.

Similarly, Jack’s Gastropub, a sports bar and bistro, provides a reward scheme for beer connoisseurs called The Mug Club. Members receive a brass plaque in the bar, a distinctive beer glass, and an extra four ounces of beer with every order. However, there is a $79 annual cost for that premium level of service.

To summarize, loyalty is a connection that requires both the firm and the client to work together to achieve. However, reconsidering your membership program strategy will help you develop a closer relationship with your clients.

Check out my related post: What is a brand worth?


Interesting reads:

https://www.goodreads.com/book/show/22238499-evergreen

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