Raving Fans & The Single Target Market

expectations, Marketing, service quality, single target market

Raving Fans was a book written by Ken Blanchard and Sheldon Bowles. A printed version is not available easily and I haven’t seen it on Kindle when I was searching for it a few years.

If you are fans of the The One Minute series like The One Minute Manager , The One Minute Sales Person etc. then you will know that Ken Blanchard writes books which are very short- just around 100 pages – but with a deep meaning. They are written in story format which ensures your interest in the book.

I was re-reading the book Raving Fans today. Being a short book, I started it in the morning and had finished it in a few hours. By its name Raving Fans is all about customer service. But if you get down to the underlying concepts that they write about, they are pure marketing.

One of the core concepts that they talk about in the book is about choosing the correct market where you can define the perfect experience and ensure you overdeliver on what you promise.

They also therefore talk about who you should NOT have as your customer because then you cannot make them Raving Fans.

Which brings me to what I keep talking about choosing the Single Target Market, because then you get to know your customer intimately and can give them an out of the world experience. In a B2B setting as I mention you also need to go down to the role, the level etc since there will be multiple people involved in any decision.

If you can get this book the Raving Fans, I would highly recommend you reading it. In today’s world where customers shift loyalty so fast, its a must read book.

Till next time then.

Carpe Diem!!!

Amazing lesson in marketing – Part 2

expectations, service quality

This is a continuation of the post I wrote yesterday.

This is special service related businesses. Since I mostly work with service related businesses this is a critical aspect which I want to highlight.

If you read yesterday’s post, I had written about how this hotel’s hostess and the F&B manager served us so well or rather delighted us,and then nudged us onto sharing our experiences on TripAdvisor.

In any service business, the front end staff are your brand ambassadors. You may stay in the best brand of a hotel, but if your experience with the staff is not good, you don’t go back to that brand. I have personally had this experience with one of the largest hotel brands. It was an aspirational brand for me and my family at one point because it was an American brand.

Indian hospitality is well known, so when I entered this hotel in one of their hotels in India and I was asked to wait in line by an uninterested person, I chose to no longer stay in that brand in the future. Now even when I travel to the US and Canada, I don’t stay with them

In the service business there’s one equation which has got imprinted in my mind. I don’t remember where I read this equation but its a good way to depict what happens in a customer scenario. The equation is

S (Satisfaction) = P (performance)- E (expectations)

In a service business its always critical that you manage the expectations of the customers rather than the performance. The higher the expectations, like I had with the US hotel brand in India, the bigger is the challenge for the personnel to satisfy me.

If you’re in the services business, its important that you remember this equation to ensure that you are clearly managing expectations, otherwise you will have disgruntled customers like I had become.

Till next time then.

Carpe Diem!!!