Posted by: joannabrandi | November 4, 2009

Watching Your P’s and Q’s

So the afternoon at the NACCM Conference – after a lovely lunch in the sunny courtyard – was spent in the Uber Loyalists track talking about my favorite topic – creating the emotional attachment we call loyalty. Marti Beller of the Affinion Group shared her experience on Customer engagement and its many benefits. She confessed to being a passionate Mac enthusiast and talked about Apple’s ability to create a kind of loyalty most of us can only aspire to. She shared a statistic about banks that says that only 35% of consumers feel engaged with their banks – 56% could be swayed and 9% just downright dislike them. Glad to see there is so much room for improvement.

Marti also took us beyond the traditional 4 P’s of marketing (remember them? Product, Place Promotion and Price?) and added her own take on it. The four p’s of loyalty are Perspective – the Customers. Look at your data and use it to learn more about your customers and why they buy – or don’t. The second P is Purpose – know your brand and how it resonates with your consumers. From their perspective would they see you as best in class, standard in class or below class.

The third P is Proliferation. Customer engagement is an accumulated effect – use every channel you can get to communicate with them. Use every touchpoint to remind them of the benefits. And then, my personal favorite – the fourth P – Praise. Reward your customers for their behavior – say Thank You.

When you do all these’s P’s there is another that will show up and that one is – Profit.

What is it that Ken Blanchard said at a NACCM long ago? Profit is the applause you get from caring about your customers and employees.

And the beat goes on…

Q’s? Start asking some different questions – one that will stimulate the thinking of everyone in your organization. One of my personal faves – How can we create a remarkable experiences worth coming back for and worth telling friends about?

More later.. looking forward for another fun and inspirational day!

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