Here’s a list of some things big businesses do – actually it’s the people in them – and what to avoid when you’re starting your company:
Use employees like toilet paper – don’t get involved with them and turn them over regularly – this gives the company/you a horrible reputation, and disincentives employees – disgruntled employees make “mistakes” and work gets sloppy. I was at an ad agency once where one client’s logo found its way onto another client’s ad.
Tell your employees how great the company is doing while underpaying them – the bosses get all the bonuses and the employees struggle. Results: see disgruntled employees above.
Purposely cut lines of communication within the company or illegally raising capital. Management, board members, and investors and sometimes law firms are left out of an important communications loop. Sooner or later the culprits get caught. Ultimately it’s at the company’s expense. See “A tale of how successfully raising capital leads to bankruptcy” below.
When in doubt here’s a simple rule to follow: The Golden Rule. Sounds trite but when you treat your employees how you would like to be treated, then you develop a great team. When I have consultants working on projects with me, I pay them before they bill me. This instills appreciation and loyalty and guess what? When I have a project, there’s never a wait or conflict – they are there for me every time. And they turn out their best work for me and my clients.
Small Town and City Retailing that rewards the community, retailers, and customers…
Specialty stores could be better designed to present new customer experiences (CX) and unique shopping rewards for all shoppers and for loyal program customers. Some communities are now supporting specialty retailers who have been challenged by incoming and ongoing mega-retail, but are rebounding with more nimble, creative and unique thinking.
This can be managed by encouraging people with shopping strategies that offer the customer unusual incentives for rewards for their purchases. For example, strategies we have recently seen could be to design customized: t-shirts, gift cards, items of artwork by local artists and artisans.
In tandem with, and actually preceding the shopping reward could be a Rewardtailer’s complementary multi-media strategy of rewardadvertising.
Also a Rewardtailer’s advertising should not only offer purchase rewards and overall discounts, the consumer is inundated with a plethora of offers and the followup survey — so the question should be: What will make YOUR offers/rewards different and more desired by your customers?
Could you envision offering purchase rewards that provide Knowledge and Value of the town’s or retailer’s history — developing a special intriguing persona? The Reward strategy is part of the customer’s Decision-making process. As we have written before, Knowledge, Value, and Decision is a KVD strategy that can build a mutually valuable relationship. People and companies desire a community that is involved in the happiness of their residents and success of their businesses.
Before the razzle dazzle of our fascination with technology gets us all excited… Let’s remember that “there is nothing as powerful as a good idea whose idea has come.” (Thank you Victor Hugo — even then and all the way to now.) At the core of our new strategies must be something that will carry the day… This is the excitement of retailing through the centuries — if you want a historical view, watch PBS’s Masterpiece retail stories: “Mr. Selfridge” and “The Paradise.”
What will we, “our time,” be known for in our future years?
Perhaps — ADVERTISING? Interactive print newspapers in 4D?
For more on the use, value and research on Loyalty Programs: