Patagonia and the Power of Purpose (7-8min)
To quote the founder of Patagonia clothing company Yvon Chouinard, “When I die and go to hell the devil is going to make me marketing director for a cola company. I’ll be in charge of trying to sell a product that no one needs, is identical to its competitors and can’t be sold on its merits.” This article in The Drum explains how Patagonia’s well defined sense of purpose has allowed it to connect with customers in authentic, meaningful and often unorthodox ways for over 40 years.
Investors Track Customer Satisfaction (2-3min)
Are happy customers an accurate predictor of a company’s future stock performance? According to Phil Bak, CEO of US fund manager ACSI Funds, the answer is yes. As outlined in this article for the Wall Street Journal, ACSI has recently launched a new exchange traded fund (ETF) which takes raw data from the American Customer Satisfaction Index and uses this to track company performance and inform investment decisions.
Customer Interaction Inspires Employee Performance (3-4min)
Leveraging opportunities for customer interaction could well be the key to improving employee performance. Referencing field studies across a range of sectors including banking, food processing and fundraising, Francesco Gino, Professor of Business Administration at Harvard Business School finds the common thread in employee motivation is connecting employees to the beneficiaries of their work, both inside and outside the organisation.
Starbucks’ Challenge (2-3min)
According to BuzzFeed, Starbucks will be pushing every one of their US cafes to bring in an extra 20 customers per day in 2017. Whilst the company will be implementing tech and mobile ordering changes to help ease the pressure, the question remains, will the drive for growth come at a cost to customer?
Share this Post