I was watching the Olympics and saw the ad, that is currently playing on BMW’s website. It gives away the secret to their success. If only other businesses would listen.
The narrator in the ad says:
We realized a long time ago that what you make people feel is just as important as what you make…
That is value proposition. Many businesses and products that had what seemed like good products failed because they didn’t realize this.
I remember once, a long time ago as a young engineer in my first job working with an older engineer that was hooked on Corvettes. He had bought many over the years. He was trying to call GM to get some spare parts and was having a terrible time with the customer service department in getting anyone who not only knew something, but would actually treat him with respect. Here’s a loyal customer for goodness sake. This gentlemen was nearly in tears as he described to me the experience and explained that had ended his love affair with the Corvette.
Here Chevy had a hit product and loyal customer. Yet, they still managed to make him feel bad enough to cause him to reconsider being a customer.
That’s not how you want to make your customers feel.
BMW’s commercial ends with:
…and at BMW, we make joy.
Listen up CEOs. How do you make your customers feel? With a good many companies they make me feel just slightly enough better than the competition to keep me coming back which leaves the door wide open for competitors.
How you make your customers feel can be an intangible, and high value, competitive advantage.