When Buying Becomes a Habit - N Reasons Why Customers Can't Live Without You

Author: Joe Karbo (USA) / Country: Mainland China
Publisher:
Publish Date: 2006-07-01
Features: In fierce market competition, products and services become easily replaceable, and price becomes the decisive factor for customers' choices. Unless you can offer something that can't be bought anywhere else, they won't be lured by low prices from others. Therefore, the focus of business should go beyond the product itself, creating customer loyalty beyond price. In this book, renowned business consultant Joe Karbo uses real-world business cases to show companies how to break the price trap and enhance long-term competitiveness. Becoming an indispensable company, making consumers unable to live without you, and transforming products and services from replaceable goods into necessities are the goals pursued by businesses of all sizes and industries. The author summarizes and elaborates on five drivers that are enough to help companies quickly find direction and enter a sustainable, positive cycle of development. The book includes numerous case studies, field interviews, and more effective business ideas and creativity—these are exactly what visionary business professionals need to read today...
Monotonous Success
When I talk to extremely successful company executives who own a large group of loyal customers, they all mention the same topic. This topic is well-known, even to the point of being tedious to discuss. What's a bit surprising is that if you don't take this topic seriously, their words can even sound like clichés. "It's not difficult," "It's about managing people," "It's just about handling relationships," "We treat our employees well." Indeed, modern business operations are highly complex, far beyond what outdated maxims can summarize, right? As a consultant and observer for some of the world's top companies, over 25 years, I've reached some undeniable, reasonable, and whether you like it or not, undeniable conclusions: Among the companies that succeed in the market, about 90% possess what I call the "Five Drivers." There are indeed factors that can elevate a company's achievements—they are the factors that distinguish the high performers from the rest, the ones that create market winners. They are the factors that make you indispensable, helping you become an indispensable part of customers' lives. Please note: I mean that the Five Drivers work for 90% of companies. The factors I'm referring to go far beyond the primary, basic requirements of running a business. Of course, you need a high-quality product; your product's price must be competitive; you must provide excellent service. But this is not what this book is about. I'm not saying they aren't important. They are important. They are just minimal requirements, just the basics. Additionally, if you have a better or unique product, you'll stand out and the market will be yours; or if your pricing is low, giving you a competitive edge, you'll be highly profitable; or if you excel in service, offering something no other company can, your business will undoubtedly thrive. However, the fact is that for 99% of companies, competitors do indeed offer quite good products, prices, and services. So, if we want to win in the competition and become an indispensable company to customers, we must go beyond our competitors.
No Template
At this point, I suspect some of you might dismiss it, saying, "Hey, stop beating around the bush. You want a template you can follow to run your company, hold endless blind meetings to develop business strategies. You know what the result is? You'll get stuck, because there is no template. There are the Five Drivers. Every successful company I've seen has reached the pinnacle of success using the Five Drivers, and there is no other way. Whether you run a customer-facing retail business or a business-to-business company, the Five Drivers are equally effective. Whether you're in the insurance industry, the food and beverage industry (I own a restaurant), manufacturing, healthcare, consulting (I'm in that field), airlines, or sales or manufacturing cars, running an accounting firm, baking bread, or making candlesticks, the Five Drivers will work. If you want to break free from your, at some point, you need to stop and start creating the Five Drivers. Let's get started! Remember, this isn't my idea. The successful companies mentioned in this book, from Target to Oprah—this woman didn't just create huge numbers, but glorious numbers. From Oprah's example, you can learn something incredible. What's your version? One of the recurring questions in this book is that you need the ability to learn from others, not just from other companies in your industry. P12-13