If you want to succeed as a business everything you do must depend on your boss; the customer. This concept is from a quote by Wal-Mart creator Sam Walton, and has been tried and tried again, and proven correct, over and over again in today’s ever changing market.
What is it about this customer centric style of marketing and management though?
I recently read an article from what I believe was the New York Times about “Build-a-Bear” and it’s creator and how they market themselves and their products. I don’t know if you know about Build-a-Bear, but if you have heard of them think: where? Television–Probably not. Magazine Ads–unlikely. Build-a-Bear’s founder Maxine Clark depends on the power of word of mouth advertising from her customers. A non-traditional style of advertising that most would assume isn’t very effective; however the $100 million plus dollar figure in the profits category of Build-a-Bears Financial Statements begs to differ with this assumption.
Advertising and marketing is about and idea. But not just that, it’s about an idea that you stick with and execute the crap out of, molding it to better fit your demographic and the needs of your customers. If your customers like cars, find a way to get your ads in and around cars. If your customers don’t like e-mail, but like getting personally addressed letters from you or your company–get those interns crack’n and give those mail clerks a run for their money. Marketing and Advertising are only as good as you are at giving your customers what they want–an experience.
American’s are what this blog is focused on, so if you are reading this in Russia or elsewhere, this might not work for you. But for Capital increases, just think about what you like. Don’t you like it when someone pays attention to you as an advertiser? Well guess what, you’re customers the same way. They enjoy, love, and adore being noticed but more so being listened to.
Listen to your number one boss. Because without them; there’s no need for you.
hey, a nice post! the power of the word of the mouth is really understated these days. to think only of the fact that all the people I know read online reviews and forums before they make a buy. they search for negative and positive feedback…the virtual word-of-the-mouth has its say, too!