Subscribe
If it’s right for the customer, it’s probably right for your business
Author: Bill Cusick
July 13, 2004
We all know it’s essential to keep an eye on the numbers to keep a business afloat. Income is good, cost is bad. But when looking at your customer experience equation, the solution that benefits the customer is almost always going to be a positive for you, even if it looks like a short-term negative financially.
For instance, Jeff Bezos, in this month’s Fast Company, (sorry, it might be limited access) tells of when Amazon looked at the idea of free shipping for purchases over $25. “You can do the math 15 different ways, and every time the math tells you that you shouldn’t lower prices ’cause you’re gonna make less money.” So, they did it anyway, because - while “it’s probably true in the current quarter, the current year…it’s probably not true over a 10-year period, when the benefit is going to increase the frequency with which your customers shop with you…” By the way, this year Amazon is on its way to $400 million in earnings on $7 billion in sales this year.
So maybe this guy is onto something…
No Comments »
No comments yet.
RSS feed for comments on this post.
