you owe me $439 worth or else
consumers have changed. blame it on the recession. the people we serve are now more money conscious than ever. they know exactly how much money they have and exactly how far those dollars should go. and wasting money, not an option. they want what they want at the best price (value), and brands are responding. take walmart’s price matching policy for example; they guarantee consumers won’t overspend when they shop at walmart because they will match any competitors’ prices. and consumers love it. they work too hard for their money and want to see value in every expenditure. actually, that’s an understatement. the new consumer doesn’t just want to see value (in general), but they want to see their expectations of value delivered at every interaction. and this desire, or perhaps we should call it demand, now extends way beyond $2 toothpaste.
to understand just how deeply rooted this shift is, check out the story of tony seminary. tony attended his alma mater’s college football season opener and requested his money back when his team not only lost the game but also lost one of their players who was suspended for disorderly conduct (he sucker punched an opponent after the loss). tony sent the head coach of his team an email and an invoice for $439 to cover reimbursement for his travel expenses (interestingly enough, the coach refunded his money but that’s an entirely different post right there).
if college coaches are refunding money for poor performance (and mind you, performances that don’t meet expectations have been a constant theme in sports and entertainment since their origins), what do you think your consumers are expecting of you? the new reality is clear: deliver, overdeliver (aka surprise and delight), or give me my money back. what category does your brand fall into?
p.s. for those who believe this post was a waste of time, please calculate the time it took you to read it, multiply that by your current wage and i will refund you for your wasted time. sike. but, what would happen if, before any blogger posted anything, they imagined they would have to refund their unsatisfied readers? i bet the explosion in blog content would diminish. that’s why i am posting less: deliver, overdeliver, or give them their money back.
- by detavio
- posted at 8:37 pm
- September 23, 2009
