Think Customers: The 1to1 Blog

"The most important thing you can do to drive growth: Get in the game and play to win. That's how you create value for your company. If you're only playing not to lose, you're sucking value out of your company."

--Stephen C. Jones, CEO, Brand Ignition Group

+ + + + + + + + + +

"Marketing as a discipline in woefully suboptimized in the digital age."

--Richard S. Braddock, Chairman and CEO, FreshDirect

Braddock went on to say that although that it's critically important to get close to customers today, few companies are marketing and managing with the intensity possible because they can't adapt to today's pace--largely due to cultural obstacles within their organizations. Companies need to completely revamp their approach, he said, and harness the real-time customer knowledge and opportunities for action that the Internet allows today.

+ + + + + + + + + +

"Companies always have to look at, 'what is the brand permission you have from your customers? Does it allow you to grow and prosper? If not, why not?'"

--Michael J. Critelli, Chairman, Dossia Service Corporation

Most companies only have brand permission to move into adjacent spaces, he added, suggesting that it's usually best to stick to your core business.

+ + + + + + + + + +

"Word of mouth is increasing in every industry we measure."

--Richard Owen, CEO, Satmetrix Systems

Owen noted that although social networks and online communities are contributing to the increase in word of mouth, a main driver is the advertising and marketing overload consumers feel today. People are so overwhelmed by advertising and marketing that they're falling back on referrals, he said. Additionally, people enjoying promoting brands and products that are promotable (e.g. the iPhone). The more promoters a company has, the more likely they are to talk about that company, creating a virtuous cycle.

+ + + + + + + + + +

"The power of the customer in brand equity is huge."

--Bruce J. Himelstein, Senior Vice President, Sales and Marketing, The Ritz-Carlton Hotel Company LLC

The power is so immense, he said, that a company can become a prisoner of its own brand equity. Not surprisingly, Himelstein cited Ritz-Carlton as an example, noting that the Ritz-Carlton is a brand promise, and guests understand exactly what that promise is. So, when guests enter its hotels, they have high expectations and don't allow much wiggle room.

+ + + + + + + + + +

"The whole essence of economics is turning scarcity into abundance."

--Steve Forbes, Chairman and CEO, Forbes Inc.

Forbes cited as one example cell phones, which used to be huge and expensive and now are palm-sized and ubiquitous.

+ + + + + + + + + +

"Every individual is now a business."

--Steve Patrizi, Vice President, Advertising Sales and Operations, LinkedIn

Patrizi explained that several trends are creating this new environment. They include a decline in job tenure, the increase in global competition, greater access to information, and people's loyalty to their own skills versus to their employers. Today, he said, your name and reputation are your brand; your salary is your revenue; your skills and experience are your advertising; your profile is your business listing; and your network is your R&D, sales, and marketing departments.

+ + + + + + + + + +

"When you think differently, that's when magic happens."

--Andy Cohen, Author, Follow the Other Hand

Cohen shared six rules for creating engagement:

Break a sweat: Let customers see you struggle; it helps to form a bond. Cohen cited Avis Rent A Car's "We try harder" slogan as an example.
Create a challenge: This will heighten the engagement. Chevy's "May the best car win" campaign is an example of this, he said.
Generate a sustainable experience: It's easy to create a one-time experience, but when experience is sustainable--as it is with Ritz-Carlton and FreshDirect--it becomes the brand.
Provide transparency: Build confidence by letting people see what's going on. ING Direct does this well, Cohen said.
Be human: You may have to do something uncomfortable or reveal something personal to make a connection. Cohen cited Charles Schwab as a company that has done this well.
Deliver on the promise: The fastest way to build loyalty is to deliver on the promises you make, he said, citing Google and Rolls-Royce as experts in delivering on their promises.