Smart companies compete for emotion
Hi All,
In today’s tough economic competition, we often hear companies with the mantra of competing for “share of wallet” of your customers. Some on the other side of the aisle feels that’s this is not the right way to compete. Share of wallet concept often leads to a price war and short term engagement with your customers. Connect with your customers’ head and your product or services may be seen as a commodity. The new paradigm and perhaps a more endearing one is to compete for share of your customers’ hearts.
People buy with their emotions. This applies to even the wet market in Singapore, where you would patronize a particular stall because the stall owner would recommend you the freshest and best catch for the day, and who will throw in a few shrimp if you buy a big grouper from the stall. The stall owner makes you feel special. Great businesses don’t have customers who like them. They have customers who love them. And that’s what allows them to endure. We can list companies like Apple, Hyatt hotel and FedEx who have over delivered the customer promise and get them to keep coming back for more.
The Hewlett Packard Alumni is perhaps such as organization. We try our best to connect with our members’ heart and do our utmost to show our care and warmth. We get together regularly to bond and reminisce good times; share fond memories of our days with the company and stay in touch. Our annual gala dinner is just round the corner, Nov 6th. Do mark your calendar, it’s another great opportunity to catch up with friends and rekindle comradeship.
I look forward to seeing you at the event.
~~ Eugene Lee, HP Alumni’s Vice President ~~
