Coffee may be for closers, but that’s about all the rewarding we should do. The relentless focus on transactions, conversion rates and closing statistics is well past its expiration date.
Sure you could get married on a first date, but I’ll wager that’s not the best idea.
Today the shift must be toward building relationships–and that starts with earning attention and establishing trust, not making a quick deal.
In a new model of retail KPIs we start first with awareness, which is mostly about breaking through the noise and achieving share of attention. We then focus on engagement that is intensely relevant and remarkable in the truest sense of that word. And we accept that one transaction doesn’t count for much, particularly if it’s achieved through uneconomic and unsustainable discounting. What does matter is continued engagement and interaction that, overtime, leads to loyalty (not mere frequency) and brand advocacy.
Brands that adopt this mindset and plan of action will be far better positioned for a digital-first, customer-in-charge world.
For everyone else, well, enjoy the steak knives.