Welcome to DORO – Pull Up a Chair
I admit it. I got sucked in, intrigued by the possibility of finding my name on a can of Coca-Cola™. I didn’t hunt through the Wegman’s checkout line refrigerators. Instead I visited Coke’s dedicated website to type my name into that search box. Figuring out why I cared led me to discover more about loyalty economics.
Of the 250 names the soft drink company chose, Mia didn’t make the cut as one of the most popular names among millenials and teens, the specific target of the brilliant campaign. Never fret if your name is Zoe or Jadeveon, Coca-Cola lets you design a virtual can to share with friends. Immediately, you’re a brand ambassador.
While the specific can strategy is unique, the campaign itself is based on the age-old principle of solid customer relationships. Bain & Company discussed the importance of loyalty economics in What it takes to win with customer experience, an extensive article published in its July 2011 INSIGHTS.
“…but the goal of change has to be the creation of promoters. They are the customers who produce the economic benefits for your business. Everything else is simply a means to that end.”
The happy customer is always the best brand promoter. Recognition is one of the most effective ways to make a customer happy. Coca-Cola continues to find ways to engage the next generation of buyers. Facebook and Twitter users have become instant promoters for Coke, posting selfies after locating themselves on the soft drink shelf. This is one of the many times over the century that Coca-Cola has invented a way to make new consumers take ownership of the brand. Remember singing, “I’d like to teach the world to sing … I’d like to buy the world a coke and keep it company?” Rather than leaving it in the hands of any single generation, the company adapts.
No business stands still. It is either gaining on its competitors or it is falling behind. Companies that deliver the best customer experience advance against the competition because they begin with their target customers’ wants and expectations. They adapt themselves to those customers’ needs, and they provide an experience that customers simply can’t get anywhere else. [Springer, Azzarello and Melton, INSIGHTS]
Small business owners can create their own version of the #shareacoke in simple, cost-conscious ways. Here are three options: