Over the past week, I have come across many articles looking at Blockbuster and how the company has fallen off. Did Blockbuster listen to its clients? What did clients want? Blockbuster is in the process of closing all of its retail outlets and moving to live streaming with Dish TV.
In Omaha, there are still some places that rent out dvd’s and last I looked RedBox still has lines near grocery store outlets. How do these places survive?
I also recently read about McDonald’s and how it has experienced slow growth with some items and dealing with longer waiting lines. Is McDonald’s listenting to its clients? Have you ever been in a McDonald’s Restaurant and been asked for your opinion on their services?
These are just two examples of companies who are looking at customer behavior and continuing to look at ways to meet client demands.
I think the takeaway here is, client demand is changing because of many factors. New technologies continue to give clients real-time, fast service and products. People make a number of impulse decisions and do not like to wait to purchase items.
People want to be in control of the purchasing process. I really think this is the key. Companies tend to throw new products and services at people, but if the demand is not there, those items can fail quickly. How many people purchased the Microsoft Surface Tablet? Are you looking to buy one or would you rather have an Apple iPad?
In this case, it is about the customer experience. Apple retail stores are staffed with people who get the product directly into the client’s hands, The client can see, feel and touch the product. Does Microsoft have their own stores that create this same experience?
Not only must companies provide a product or service, but they need to start providing more. That “more” item is the experience. This particular item hit home for me yesterday when I was sharing with a group of clients some new services we would be offering in 2014. I was expecting a big reaction and needless to say I did not get the reaction I was looking for. After thinking about it, I realized that I had not sold the experience that went along with this new service. Needless to say, I have taken some notes and my next pitch will be 100 times better.
Back to my original quesiton, “Do you know what your customer’s want?” Sometimes, we focus so much on the product or experience that we forget about creating a new experience. Maybe our new quesiton should be, “Do you know what type of experience your clients are looking for?” Wow – If we answered that question along with their wants, we might be on to something “big”
What do you think?