I saw this at the 3M Leadership conference and it was great to be able to find it again on YouTube:
http://www.youtube.com/watch?v=pMcfrLYDm2U
Friday, April 4, 2008
Monday, March 31, 2008
RSS
I love the personalization of RSS feeds - now if I could just get some of the organizations I interact with to get onboard. My daughter's school still sends a huge newsletter each week - and I really only need about 10 percent of the information. The same is true for my healthclub and the animal shelter where we volunteer.
My favorite nugget I just picked up is:
Mouthonomics
By Jackie Huba
A new study from Satmetrix provides some new numbers on how customer evangelists can help grow your business. And how customer vigilantes can hurt it.
The study examined customers in the computer hardware industry and found, using the Net Promoter methodology, that "promoters" would spend about $1,818 of their own money and refer an additional $816 of revenue from friends and associates.
http://www.churchofthecustomer.com/photos/uncategorized/2008/03/27/picture_6.pnghttp://www.churchofthecustomer.com/photos/uncategorized/2008/03/27/picture_6.png
That means a customer evangelist helped inspire sales that was nearly equal to 50% of what she'd purchased.
Some quick math shows the potential of customer evangelists more dramatically: Let's say a business has 1,000 evangelists whose average purchase during a period of time is $1,818. That means the group will have spent $1.8 million of their own money and referred $816,000 of business for a total of $2.6 million. Very quickly the cost of goods sold begins to decline while gross margins go up.
Satmetrix found that detractors (or customer vigilantes, as we like to call 'em here) spend a little less, but their bad buzz caused lost sales amounting to $1352 per detractor, nearly negating any of their actual value as a customer.
The bottom line with evidence like this: diligent listening is key. It's imperative to know whether customers are referring you or bad-mouthing you.
The talkative ones are the leading indicators of your future.
My favorite nugget I just picked up is:
Mouthonomics
By Jackie Huba
A new study from Satmetrix provides some new numbers on how customer evangelists can help grow your business. And how customer vigilantes can hurt it.
The study examined customers in the computer hardware industry and found, using the Net Promoter methodology, that "promoters" would spend about $1,818 of their own money and refer an additional $816 of revenue from friends and associates.
http://www.churchofthecustomer.com/photos/uncategorized/2008/03/27/picture_6.pnghttp://www.churchofthecustomer.com/photos/uncategorized/2008/03/27/picture_6.png
That means a customer evangelist helped inspire sales that was nearly equal to 50% of what she'd purchased.
Some quick math shows the potential of customer evangelists more dramatically: Let's say a business has 1,000 evangelists whose average purchase during a period of time is $1,818. That means the group will have spent $1.8 million of their own money and referred $816,000 of business for a total of $2.6 million. Very quickly the cost of goods sold begins to decline while gross margins go up.
Satmetrix found that detractors (or customer vigilantes, as we like to call 'em here) spend a little less, but their bad buzz caused lost sales amounting to $1352 per detractor, nearly negating any of their actual value as a customer.
The bottom line with evidence like this: diligent listening is key. It's imperative to know whether customers are referring you or bad-mouthing you.
The talkative ones are the leading indicators of your future.
Monday, March 3, 2008
New Favorite Hobby - Geocaching
My kids and I discovered this two weeks ago and have been on the hunt for Scottsdale Caches. So far we've found five and hidden two. What amazes us that in such a short period of time, thirteen people have found our caches and added to them - the items ranged from a cool pirate coin to a rubber chicken. We're still trying to determine what our signature "treasure" will be.
More info at http://www.geocaching.com/
Wednesday, February 6, 2008
Furniture Frenzy
Friday, February 1, 2008
Every Monday Matters
I was on vacation in New Mexico and saw an EVERY MONDAY MATTERS poster. Weekends are wonderful - but this has given me a whole new way to look at the start of a week:
Monday used to be the least favorite day of the week. Monday was the day that ended the weekend; the day you had to go back to work; and the day you started a diet or decided to start exercising again. Not anymore! Authors Matthew Emerzian and Kelly Bozza do a total makeover on the bad image of Mondays and make that day mean something amazing, something incredible, something unbelievable. Every Monday Matters does this by taking 52 Mondays, providing 52 creative but doable activities, giving 52 down-to-earth ways to make a difference, one for each Monday of the year. It's a perfect way to have a positive impact, get others involved, and make a difference in your life and the lives of others.
2 Mondays, 52 Activities, 52 Ways to Make a Life-Enhancing Difference.
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