potential to increase the lifetime value of the customer. Usually marketing departments assume that the lifetime value of a customer is fixed when do… - Tony Hsieh
" "potential to increase the lifetime value of the customer. Usually marketing departments assume that the lifetime value of a customer is fixed when doing their ROI calculations. We view the lifetime value of a customer to be a moving target that can increase if we can create more and more positive emotional associations with our brand through every interaction that a person has with us. Another common trap that many marketers fall into is focusing too much on trying to figure out how to generate a lot of buzz, when really they should be focused on building engagement and trust. I can tell you that my mom has zero buzz, but when she says something, I listen. To that end, most of our efforts on the customer service and customer experience side actually happen after we’ve already made the sale and taken a customer’s credit card number.
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Additional quotes by Tony Hsieh
"The typical industry approach is [retailers] to treat vendors like the enemy... If vendors can't make a profit then they don't have money to invest in research and development, which in turn means that the products they bring to the market will be less inspiring to customers, which in turn detriments the retailer's business because customers aren't inspired to buy. People want to cut costs and negotiate aggressively because there's a limited amount of profit to be shared by both sides. As a result of this "death spiral", most retailers fail."
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For example, for most of our loyal repeat customers, we do surprise upgrades to overnight shipping, even though we only promise them standard ground shipping when they choose the free shipping option. In conjunction with that, we run our warehouse 24/7, which actually isn’t the most efficient way to run a warehouse. The most efficient way to run a warehouse is to let the orders pile up, so that when a warehouse worker needs to walk around the warehouse to pick the orders, the picking density is higher, so the picker has less of a distance to walk. But we’re not trying to maximize for picking efficiency. We’re trying to maximize the customer experience, which in the e-commerce business is defined in part by getting orders out to our customers as quickly as possible. The combination of a 24/7 warehouse, surprise upgrades to overnight shipping, and having our warehouse located just fifteen
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