Recently I purchased my first Apple computer. It’s rapidly becoming my best inanimate companion. I expected that, because Apple is renowned for making top-quality products and they have a loyal and vocal consumer base, some of whom are my friends.
What I didn’t expect was this: when I wrote about my purchase on Facebook, people were so excited that they commented on my post at some length, and more than one friend called to congratulate me.
That got me thinking. How many people post on Facebook that they have just signed on with the Best Firm Ever? How often do people call to congratulate one another on their choice of lawyer, CPA, or consultant? Rarely. Probably never.
The important question, then, is what are we doing to become the Apple among our competitors? A few thoughts:
Price to value, not to cost. Apple buyers are confident that they are buying the market leader in quality, design, and innovation. They know before they walk into the store or click “buy” on the website that they’re paying top dollar. Apple does nothing in their advertising and marketing to disabuse consumers of that notion. Professional knowledge workers, on the other hand, generally can’t tell buyers the price of their services until after the fact. They often discount their prices before the buyer ever begins to negotiate. Why? (For more in pricing to value, visit the visionaries at VeraSage Institute, www.verasage.com).
Do what you promise. Along with innovation, design, and quality of product, Apple promises great service after the sale. They deliver. Team members are knowledgeable, helpful, and polite. My services were completed exactly when I was told they would be. Apple was always there when I needed help. In contrast, clients of professional knowledge workers complain regularly that their service providers charge high rates for inexperienced people and fail to do something as simple as return phone calls promptly.
Make it easy to buy your services. Walk into an Apple store and you will see product samples beautifully displayed, ready to be test-driven. Sales people know every product inside and out. In the rare instance that they don’t, they have immediate access to a more experienced sales team member. Many clients (and perhaps employees) of professional knowledge firms don’t even know what services their firms provide. Listing your services on your website is not enough. Be sure all of your team members are educated about every service so they can discuss them with clients. In-depth knowledge is not crucial, but certainly the ability to introduce a client to another professional in the firm is vital to growth.
Operate as a team. If there was competitiveness among Apple employees, I did not notice it, and I worked with several in the process of making my purchase. All team members had ready access to my information, which was entered into their database as I stood there. Every team member knew the history of my purchase and the service received to date. Equally important, they were openly helpful, friendly, and courteous -- not just to me, but to each other. They genuinely seemed happy to be working with each other and with Apple.
Set up your customers for their next purchase from you. The only way to do this is by following the advice above. Nobody at Apple suggested that I buy an iPad, but there is no question that there’s one in my future. Why? Because Apple is Apple, and they do all the things noted here as a matter of course. So it’s perfectly logical that it’s a matter of when, not if, I buy a second product.
Invest in thinking about the future, not just reacting to the present. Apple is the market leader in innovation and creativity because they spend time, money, and intellectual effort on it. Step away from your billable hour mindset and study your firm. Are your work processes working? Is your firm creating value for clients? Are you building long-term relationships, internally and externally? Are you preparing for tomorrow’s challenges and opportunities? You can bet Apple is.
Great post which beautifully illustrates the difference between a business and a brand. The core essence of Apple's brand is "creative and cool" and right now they practically own those words. When Apple announced they were bringing out a phone their loyal followers signed on and bought in long before the phones hit the shelf. Not because Apple were were known for being a great phone company but because their brand owns those two words. Harley Davidson = Freedom (with a bit of rebellious on the side). Coca Cola = Happiness. You never hear Coca Cola talk how superior their drinks taste when compared to the competition. Everything about the Coca Cola brand plays on our happy childhood memories of sucking down an ice-cold Coke on a hot summer's day. And who doesn’t have at least one of those? Obviously the products and the experience have to live up to all of this but then, it’s not proper branding if they don’t.
ReplyDeleteThe first question any company must ask itself is, can we define what our brand stands for?
Well said, Len. I feel much more creative just owning an Apple. And younger. And taller.
ReplyDeleteToo many organizations view a brand as only a logo or clever tagline. As you and your company demonstrate, a brand a far more meaningful than just those things.
This is great stuff, Melinda! I've also been helped by multiple Apple employees for one purchase. I wonder if Apple makes them share commissions of the whole team, so that if everyone works together, they all make money. Not sure.
ReplyDeleteBut it is interesting to explore for the team in a firm. For example: we all set a goal for a certain number of clients or profit, and tell everyone the extra profit will be split by every team member. I wonder if everyone would pitch in that much harder?
I'm not sure they would. Our team seems content with doing an awesome job because they love what they do. They've told me multiple times they love their job. That's cool. It seems like I don't need to push them towards higher profits because they aren't interested.
They just love serving in their capacity. I know I'm off on some hair-brained tangent (I know you're not surprised), but should I push everyone further towards more bonuses and higher pay, or just let them do their jobs content because they love it?
Jason, you raise such an important question. Of course, opinions are like elbows -- everybody has a couple -- but I do have some thoughts on bonuses, profit sharing and such. The short answer is YES, share the rewards with your team. The amount of money is secondary to the act of sharing. It removes the common complaint employees air about "working hard to line the partners' pockets." It also validates their role in creating profit, thereby acknowledging the value of their daily work. My old managing partner always paid us enough salary to remove money as an issue of contention (very smart move). Sometimes the bonuses were tiny, like the $100 he handed out at Christmas. But the point is, he actually handed it out. In cash. Told us not to spend it on anyone but ourselves. Very, very touching and cool. But I digress. Offering team members a share of the profits -- when you announce that decision in advance of making those profits -- gives them a very tangible goal to reach for. CPAs tend to be goal-driven people. So it's more about having a goal than the money itself. Profit-sharing is just one component of creating a cohesive, motivated team, and it can be very useful. But never let it substitute for challenging work and great clients.
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