Stanley

  • Stanley posted a new activity comment 3 years, 8 months ago

    There is potential that this will have a positive impact upon the business, but that impact is marginal compared to other methods that can be used. For the banking industry, it may be more worthwhile to invest in talent, personnel, and services. However, a traditional remodel can be effective, it just may have limited success.

  • Stanley posted a new activity comment 3 years, 8 months ago

    As I replied to Ray Andrew’s comment, this is a system that works best for those with smaller markets and loyal followers. The present users will see this as a boon that can save money, but more importantly new consumers will have the opportunity to adopt the program and become new sources of revenue, albeit at much smaller profit margins.

  • Stanley posted a new activity comment 3 years, 8 months ago

    I believe that the companies that will adopt this model will be aiming to undercut the stronger competition. Most businesses using this model seem to be niche markets who are fighting for each individual customer or sale, so it makes sense that their revenue is not as dependent upon the greater sum of available consumers purchasing their goods.…[Read more]

  • Stanley posted a new activity comment 3 years, 8 months ago

    Essentially, you are allowing the customer to experience each of the pieces individually rather than together. While it is the same parts, the end result is that you are able to thoroughly enjoy each component and identify which are unnecessary or off-putting. For businesses, I would say that this is the opportunity to allow customers to choose…[Read more]

  • I believe we are entering a business environment where the business itself is more heavily reliant upon its personal branding than the offering itself. A common case-in-point is that businesses are currently being scrutinized the instant that a customer sees their presence, whether it is physical or digital. The first impression, after all, is…[Read more]

    • Let’s not discount how well a business operates though! Can’t judge a book by it’s cover after all 😉 Yep, we see people making more decisions from the get go than before, but still lots of people who try to test the services before making a choice you know 😀

  • Stanley posted a new activity comment 3 years, 10 months ago

    Social media is proving itself to be quite the formidable foe in regards to stalwarts traditional marketing. I myself have witnessed social media have a profound impact upon businesses and their reputation around the world. One such example is Turing Pharmaceuticals and the backlash they faced following the increase of drug prices. While, yes,…[Read more]

  • Stanley posted a new activity comment 3 years, 10 months ago

    While I do agree that this is a novel way to attract customers, I must concur with James and point out that this is a strategy that has a great deal of upfront investment that may not generate a sufficient return. Physical presence for a business, while an important representation of the culture and face of the company, is an aspect of traditional…[Read more]

    • So are you saying that it wouldn’t ever work for businesses to grow by making their stores more attractive? I was thinking it would be the same as a regular remodel.

      • There is potential that this will have a positive impact upon the business, but that impact is marginal compared to other methods that can be used. For the banking industry, it may be more worthwhile to invest in talent, personnel, and services. However, a traditional remodel can be effective, it just may have limited success.

  • I have recently had several conversations with my peers discussing an item that is a fledgling trend in food: deconstruction. The concept is simple – meals are divided into their primary components and allowed to share space on the plate – but has a profound impact upon the senses and the patron. Individually each item can be enjoyed and savored…[Read more]

    • That makes no sense at all. The point of packages are to encourage customers to spend more money and drive revenue. Separating them makes it easier for customers to avoid additional costs and fees. What would happen if instead of getting a suite of services for X amount, they are getting a single product for half the cost? They would obviously be…[Read more]

      • While I agree that package programs will typically have a higher price tag and bring in steady revenue, it also has the potential to alienate those who only want one or two parts of the package. You have to consider that those on the fence will be much more willing to adopt new services if they are able to select only what they actually want to…[Read more]

        • The risk there doesn’t make it better. You can get some people who want to pick their services, but lose the increased sales from bigger packages. What business would risk their secure sales for the chance, just the chance, at more customers? It bankrupts companies and that’s why they fail to grow. Ideas like this just make things worse

          • As I replied to Ray Andrew’s comment, this is a system that works best for those with smaller markets and loyal followers. The present users will see this as a boon that can save money, but more importantly new consumers will have the opportunity to adopt the program and become new sources of revenue, albeit at much smaller profit margins.

    • To add to the conversation, I have seen this type of business model adopted by places such as restaurants and service providers (think of cable services). In both cases, I have found that it is a very hit-or-miss type of approach for the businesses involved. For the restaurants, you can clearly see that they are making much more money by being…[Read more]

      • I believe that the companies that will adopt this model will be aiming to undercut the stronger competition. Most businesses using this model seem to be niche markets who are fighting for each individual customer or sale, so it makes sense that their revenue is not as dependent upon the greater sum of available consumers purchasing their goods.…[Read more]

    • But how is that any different than regular food? I’m not understanding it too well. You just took food and gave them the chance to order separate items and options. For businesses, I don’t see how you can make more money by letting them purchase stuff in smaller batches.

      • Essentially, you are allowing the customer to experience each of the pieces individually rather than together. While it is the same parts, the end result is that you are able to thoroughly enjoy each component and identify which are unnecessary or off-putting. For businesses, I would say that this is the opportunity to allow customers to choose…[Read more]

  • Stanley posted a new activity comment 4 years, 10 months ago

    Proper training is key to ensuring a smooth and consistent form of service. While you will have breakdowns, the best way to standardize the process is to provide consistent, effective training that will stick with the employees. It is more expensive and it does take time, but it does produce results.

  • Stanley posted a new activity comment 4 years, 10 months ago

    I do believe that restaurants fall outside the realm of a standard business. Their operations, while customer centric, emphasize products as heavily as their service. Essentially, they are a hybrid between the two, and it is difficult for them to specialize in one or the other to such an extent that they will be known solely for it. As I see it,…[Read more]

  • Stanley posted a new activity comment 4 years, 10 months ago

    I do not believe that this is a phase of business that can be so easily commoditized for the simple fact that it is a change that is vastly expensive in terms of both money and human resources. It is difficult to overhaul a business to be more relationship centric, so many companies will opt to avoid this option of improving operations. There will…[Read more]

  • Stanley posted a new activity comment 4 years, 11 months ago

    This is a question as to whether or not the technology will truly improve the ability of the bank to fully meet their customers’ needs. I personally doubt that this new form of technology will revolutionize banking, simply because I cannot imagine that it would bring any new improvements. Personally, I see this as a simple progression towards a…[Read more]

    • There’s some ways to make it work though. Touchscreens and model homes for mortgages and stuff. Things to make it tangible. That’s big for me when I go to choose a place to work with. I like results, and if you can touch things you can see what’s going on.

  • Stanley posted an update in the group Group logo of Relationship Centricity Relationship Centricity 5 years ago

    I have to say that I have had a recent experience with a rental car company that was surprising to say the least. Many companies interject saying that they prioritize the customer and the experience that they create for them. Additionally, most will state that they aim to establish a relationship with their customers, yet simply regulate that duty…[Read more]

    • You are right in saying that the issue is the lack of followthrough on behalf of the company. Many are content to simply train their employees and trust that the job is being done appropriately. What must occur is consistent monitoring of the matter and improvement of the process. Rather that simply training, companies need to employ a system…[Read more]

    • So how do we do that? Have someone dedicated to making sure it all flows smoothly like you want? It sounds really expensive and doesn’t sound like something a business should do if they have lots of branches to watch over

      • Proper training is key to ensuring a smooth and consistent form of service. While you will have breakdowns, the best way to standardize the process is to provide consistent, effective training that will stick with the employees. It is more expensive and it does take time, but it does produce results.

    • I don’t think you’ll get perfection. That’s just the way it is. You train people, you leave, you come back and see them cutting corners. It happens. I’d say that if you train them and get them to at least do it a good chunk of the time then it all pays off. Just make sure to check up every once in a while to make sure it’s going the way you want.

    • People screw up. I don’t see why you think this is something new or a real problem. People are lazy, they screw up, they slack off and cut corners. Normal business issues that we can’t really get rid of. Deal with it because we won’t see it go away anytime soon.

  • Stanley posted a new activity comment 5 years, 1 month ago

    An environment that I fondly remember is reminiscent of a museum – constantly changing but consistently flawless in presentation. There was a real estate office that I used when I purchased my first home that captured the idea of an experiential customer environment. It was similar to an Ikea in the way that their areas were furnished, but these…[Read more]

  • Stanley posted a new activity comment 5 years, 1 month ago

    The experiential side of this commercial does not directly influence viewers. The primarily aim of this advertisement is simply to appeal to those who have a passion for the sport. As I see it, it invokes the “why” surrounding people and their daily activities; they love soccer and incorporate it into their everyday lives. This rings true with…[Read more]

  • Stanley posted a new activity comment 5 years, 1 month ago

    I believe that we are doing things differently, just it is on a very gradual progression so we are not seeing the sort of dynamic innovation that has come in the past. Everything has been moving so quickly with the new technology and trends, but now that things are beginning to settle we are seeing less change and more businesses simply adapting…[Read more]

  • I typically do not have a great deal of praise for company cultures, for most are simply lacking in terms of emphasizing a customer experience mentality. However, I have noticed that many smaller operations, in this most recent case a local gym in my city, tend to practice a much more relationship centric method of doing things. In my most recent…[Read more]

    • Gyms are a great source of inspiration in my opinion, especially in terms of creating culture or innovation. I had said that my gym offered these “scenario” classes where they put you in different situations, such as a river rescue or obstacle course. I saw that as a new experience outside the standard gym routine. I didn’t see anything like you…[Read more]

    • So how does this apply to banks? I can’t see where you can cross over the ideas. It’s not like a bank will ask everyone how they want to bank since everyone will have a different opinion.

    • My belly may be evidence to show that I haven’t been to the gym in a while, but I really like this idea. 🙂 To answer our good friend Deano, it’s about getting people into spending time and working with the bank. They got people at the gym to stay and talk about what they want, so they wanna come back since they want to see their ideas come to…[Read more]

    • See, this is where I think it makes sense. There are people actually there to do things, so why not make it something they can be connected to? People are attached to money, sure, but they aren’t going out of their way to make it something special. No one wants to go to deal with their money because it is stressful. So I’m not sure how this goes…[Read more]

  • Stanley posted a new activity comment 5 years, 2 months ago

    This video has a lot of potential to become something great, but I do not believe it will have the outcome that Coca Cola is striving for. Yes, the product’s new cap is experiential because it goads individuals into working together, but I do not think that this will work as an experiential foray due to the fact that this seems like an isolated…[Read more]

  • Stanley posted a new activity comment 5 years, 2 months ago

    This is a wonderful find that supports the idea that experiential communications do not necessarily have to constantly highlight the brand that is being promoted. From the video you can clearly see that they are trying to capture the essence of what it means to be a fan, showing that it permeates even into everyday life.

  • Stanley posted a new activity comment 5 years, 2 months ago

    If you read the above comment I made in response to Aaron you will see that we still can create an experience while meeting expectations. From my work, I have seen that it is the delivery to the customer that creates the most lasting experience. While there are products that must be worked to create an experience, my work has shown that we…[Read more]

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