I Didn’t Expect That Business Model:

February 16, 2012 in Branding, MAGAZINE, Network Marketing Tips

    Embrace it or else your business will fail within the next 6 to 18 months.Ever heard of the company Zappos and how it was bought out by Amazon for a cool $1B. You might say yeah, Zappos is that online shoe store that sells shoes like everyone else. That’s where you might get this wrong because everyone else sells shoes, but Zappos has one secret that blows their competition out of the water.

    Let me ask you a question, have you ever picked up someone from the airport and asked them how was their flight? Has anyone given you this answer, “We didn’t crash and burn so it was great” You never hear someone say that because that’s what is expected when you take a flight. You don’t talk about the service you pay for and expect. All we are going to talk about are the extras, the bonuses, the free prizes, and the part of the service that’s over the top for no good reason. You can either build this into your business on purpose or you can hope to get lucky, but more often than not, your luck will run out.

    Zappos built this into their business on purpose. CEO of Zappos Tony Hsieh took a lot of the marketing budget to bribe and train his team to spend hours on the phone, in chat rooms, with angry customers. He realized that if he could overwhelm people who took the time to call Zappos, that people would talk about it. One of his stories from the early days was about a woman, who would always buy a $300 pair of shoes every Monday, wear it Tuesday through Thursday, and send them back for a full refund on Friday to take advantage of their return policy. In most businesses, if someone was stealing from you at this level you would flag their account and never sell them shoes again. But Zappos kept letting this happen. If this woman was busy bragging about how she was ripping off Zappos every day, most people are honest enough not to-do it. But they would be amazed how generous Zappos ‘ return policy is.
    That’s what people would talk about.

    Your turn:

    What do you think of this didn’t expect that business model. How do you think it could work for you? What bonuses or extras do you have in your business that people can start talking about. Do you think it could work in your industry? I’m anxious to hear from you, so leave me your comments in the comment section below. Don’t forget to share the post as well.

    Talk soon, EKL.

      Like what you read? Sign up for updates...FREE!
      Share | Tweet | Comment Tweet Comment