Give Said the Little Stream

Why service and experience matter in downstream marketing strategies

BUZZWORD ALERT!

Downstream strategy. It’s a term that’s gaining quite a bit of traction, and deservingly so! With the rise of technology we have watched a commoditization of products and services. Customers now desire and seek after authenticity and unique experiences. Businesses are faced with deterioration of the competitive advantage that their internal assets once held. Assets like patents, products, future product iterations no longer pose a significant barrier to entry, because they’re now easily duplicatable. So downstream strategy has become about what your business is and is about outside the building. How do customers and potential customers immediately perceive your brand? I’m not talking about logos and identity, I’m talking about the personality of your company. This impression is everything to you and your business.

A product is a kickstand, a brand is a ladder

One of my favorite examples of understanding authenticity within your brand came from one of my business professors who had previously built and sold a very successful medical equipment rental company. He would always ask me, “Take away your product and who are you to your customers?”. That’s a difficult question to answer! A lot of businesses strategy are encapsulated within their products. Take away their products and what’s left? Because of the changing dynamic in today’s markets, it’s imperative that brand— an authentic personality is built around your company. A product is a kickstand, a brand is a ladder. Build a ladder, not a kickstand.

Here’s an example

If there’s one company in this world that truly understands this principle, then I would say it’s Zappos. Tony Hsieh has built a company that is laser focused on delivering a positive experience to every one of their customers. If you took away the shoes, boots, and clothing from their company and inserted a relevant product, it would not change what Zappos is. People continually buy from Zappos not because they have the very best prices, or contracts with Nike for exclusive sneakers that no one else has— they loyally purchase from Zappos because they’re fanatically pleased by the experience. What a beautiful thing! (Tony you and your team are my heroes)

Experience is not expendable, it snowballs

I truly believe that a company’s most valuable assets are their brand and customer experience. With that mind, if you can create an authentic experience around your brand, it’s an asset that isn’t expendable. Once a positive experience is had, it can be built off of. It’s imperative that companies begin focusing on providing exceptional circumstances and service to their customers. Each positive experience is a step in the ladder towards intrinsic customer loyalty.