3 Companies Consumers Love and Why
Some companies just seem to get it right on so many levels. They may not be to everyone's taste, but consumers in general flock to them like moths to a flame.
Let's take a look at three companies consumers seem to love.
Netflix - talk to three people at random and it's highly likely that two of the three are subscribers to this streaming video service. Netflix is closing in on an amazing 100 million subscribers and have 3,500 employees, so they must be doing something right.
In a nutshell, they offer a massive range of video entertainment at an incredibly low price. People complain when they raise their prices by a buck or two, but just a few years ago we were driving to a video store, remember Blockbuster, to rent a single video or DVD for the price of a month's subscription to Netflix.
Their high-quality original programming gives them a unique selling proposition and builds loyalty. Add to this the ability to watch where you may be, from your living room, to a hotel bed and the value proposition is hard to deny.
Lesson: Offer low-price entry, quality products and service, something unique to build loyalty and easy purchasing and signing up.
Starbucks - love them or hate them, their drive-thru's have long line ups and their coffee shops are busy from when they open, often at 5 a.m., right through the day.
What's their magic formula? Great service in every store - a consistent product - massive choice. According to Huffington Post, there are 80,000 different ways to enjoy a Starbuck beverage!
With over 27,000 stores worldwide, Starbucks has nothing left to prove.
Lesson: exceptional customer service and consistent product in today's world are expected, they are the starting point not a customer service goal. Personalization of product, the ability to order and pay via an app, and the feeling you are special when your beverage is free on your birthday all add to Starbuck's cult status.
Uber - Here is another iconic company that people either love or hate. Notice a trend here? No company can win over everyone, but to make people passionate in their like or dislike of you means you are doing something right.
Hailing a cab has never been a fun thing to do. Cab drivers are often not the friendliest of people and the constant fear of being driven around the houses and overcharged weighs heavy.
With Uber, everything is done through a simple app. Once downloaded, it figures out where you are and allows you to enter your destination. It then gives you several service choices and prices depending on your requirements. Within a few seconds it finds the nearest driver to you and shows you on a map where the driver is and how long it will take for them to pick you up. On your smartphone, you watch the driver's progress on a map. You also receive the make of the car, its license plate number and the name of the driver.
On arrival both you and the driver exchange names for better security. Uber has a driver/passenger etiquette which promotes politeness and a pleasant atmosphere. At the end of the ride, both driver and passenger can rate-their-ride.
No money, or credit card changes hands. The app takes care of everything and there is no need to tip.
With seven million drivers and 50 million riders, Uber proves their system is what today's consumer is looking for.
Lesson: Uber makes getting a ride not only easy, quick, efficient and pleasant, but provides the service at a reasonable and fair price. Consumers are looking for simplicity in every transaction. They want excellent customer service, they want it personalized, they want to be in control and they want to pay a fair price.
These three examples demonstrate that consumers are looking for a paradigm shift in the way products and services are offered. What lessons can your business learn from these companies?