A colleague recently posed an intriguing question, “Do you really need to differentiate your company?” The answer may surprise you: No, under certain circumstances. Thousands, if not millions, of look-alike companies are making decent returns, with some even experiencing impressive growth. Various factors contribute to their success. Sometimes supply and demand favors them, sometimes they…
Cognitive dissonance is a psychological phenomenon that occurs when a person holds two contradictory beliefs at the same time Think you have a competitive advantage? think again! A competitive advantage is not what you think you are good at, unless the customer values it. I have asked thousands of business leaders and salespeople to tell me…
I recently decided to try a new gym that uses AI-enabled equipment. I was enthralled with the idea of AI machines telling me how to work out and how well I was doing. So, I set up an appointment after an offer of two free sessions came in the mail. I told the owner of…
There is an increase in the number of companies touting company numbers especially from large multinational firms. This is an encouraging development, in that organizations are relying a little less on clichéd content and are making efforts to distinguish their businesses with real numbers. However, the use of company statistics to convey value is often…
As we begin a new year, so too do the strategic plan implementations for most organizations. The question is how long will the teams remain committed to the goals and objectives spelled out? With the daily pressure of customer gains/losses, the stress of making sales quotas, operational issues and product/service issues, strategic plans risk fading…
Marketing and sales messaging is not about filling up white space but about getting a hook in with a compelling answer to “why do business with us?” If you and competitors have essentially the same messages, then you have painted yourself into commodity corner. Here is a real example of a recent client’s message: “We…
For the past couple of years the biggest issue within supply chains has been product availability. Those issues are ebbing somewhat (depending on the supply chain), and now many supply chains are being exposed for deficiencies in other factors such as product quality, lagging technology, and supplier legitimacy. Supplier legitimacy is an issue that recently…
Surely you have experienced the changes taking place in retail businesses. From self-checkout at grocery stores to kiosk ordering everywhere from restaurants to hotels, the pace of implementation is amazing. But it leads to this question – do these investments improve customer service, or are they efficiency efforts aimed at reducing costs at the expense…
When manufacturing started leaving America en masse for China, Vietnam, India, – offshore – in the 1990s, America lost more than the occasional manufacturing plant, they lost control of entire supply chains. Many companies have spent the last few years realigning their supply chains to be less reliant upon offshore manufacturers. The decision for US…
The 4th annual Most Trusted Brands report was recently issued by Morning Consult, with Band-Aid earning the top spot (again) as the most trusted brand. Brand trust, as defined by Morning Consult, is based on customer responses to one question, “how much do you trust this brand to do what is right?” As the report…
