coffee summit master slides (2)
DESCRIPTION
The New Economic LevelTRANSCRIPT
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Sales Simplified©
“It’s all about the experience.”
Rick Leffke; R.C. Leffke & Associates, Inc.
Let’s Not Complicate a Good Thing
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There is a fundamental change going on in the very fabric of our modern economy...
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You are what you charge for... And if you’re competing solely on price, then you’ve been commoditized, offering little or no true differentiation. What would your customers really value? Better yet, for what would they pay a premium? Experiences. - Tom Peters
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Immediately upon arriving in Venice, Italy, a friend asked where he and his wife could go to enjoy the city’s best. Without hesitation they were directed to the Café Florian in St. Mark’s Square. The two of them were soon at the café in the crisp morning air, sipping cups of steaming coffee, fully immersed in the sights and sounds of the most remarkable of the Old World cities. More than an hour later, our friend received the bill and discovered the experience had cost more than $15 a cup. Was the coffee worth it, we asked? “Absolutely”, he replied.
- Excerpt from “The Experience Economy” Joseph Pine and James H. Gilmore
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...there have been different levels of economic value throughout time...
The economic value defines the way people buy
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There were commodities
Extracted from the ground and sold on the open market.
It was the basis of an agrarian economy for over a millennium
CoffeeWheatMineralsCorn
Commodities
Extract
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Commodities
Goods
Commodities were turned into goods
Commoditized
The Industrial Revolution -
Price PricePrice
Customized
Extract
Make
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A customized good
Delivered on demand
Commodities
Goods
ServiceCustomized
Commoditized
The Service Era -
CommoditizedExtract
Make
Deliver
Customized
Price PricePrice
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Commodities
Goods
Service
Experience
It goes beyond goods and services
Customized
Customized
Commoditized
Commoditized
New level of economic value...
Make
Extract
Deliver
Stage
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Authenticity
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Commodities
Goods
Service
Experience
Supply Availability
Economic Output Business Imperative Consumer Sensibility
Control Cost
Improve Quality
Render Authenticity
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William Shakespeare
This above all: to thine own self be true,And it must follow, as the night the day, Thou canst not then be false to any man. - William Shakespeare
Polonius to his son Laertes
Hamlet
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Is true to itself
Is what it says it is
Is NOT true itself
Is NOT what it says it is
Real RealReal Fake
Fake Fake Fake Real
Two Dimensions of Authenticity for Businesses
Universal City Walk
Disney
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The Coffee Bean
Commodities
Goods
Service
Experience
Make
Deliver
Stage
Extract
Worth = .02-.04 cents/cup
Roast it, grind it, package =.50 -.83 cents/cup
Service a customer by brewing = $1.00 - $1.50
Surround it with the ambiance/experience = $3.50 - $5.00/cup
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Starbucks
• Starbucks is really selling “your coffee, your way.”
• They are very dependent on their employees’ ability to connect with customers, listen to their needs, and then customize the product and service to meet these needs.
• They attentively craft the coffee to your particular specifications, and then “voila” - they write your name on the cup and call your name.
• The experience is all yours.
• When you want to experience it.
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It’s the value that the experience holds for the individual that determines the worth of the offering and the work of the business.- Tom Peters
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For Business...
• Don’t say your authentic unless you are authentic.
• Easier to be authentic if you don’t say you are authentic.
• If you say you are authentic you better be authentic.
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For the consumer...
• What will make us happy is spending our time and our money satisfying the desire for authenticity.
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There is a fundamental change going on in the very fabric of our modern economy...
The way we sell is changing...
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Selling/Educating
• Your business and results change when you stop worrying about what your doing in the sales process and focus on who your being.
• People buy for their reasons on their time-line, not yours.
• The more you focus on your customer’s experience, the more likely you are to meet you own needs and wants.
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5 Keys to Ensure the Experience
• Design and deliver the intended experience.• Train people to build value and loyalty• Design support systems for nimble service
experience.• Continually re-visit your buying experience.• Measure experience on loyalty and
profitability.
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Sales Simplified©
“It’s all about the experience.”
Rick Leffke; R.C. Leffke & Associates, Inc. www.rcleffke.com 469.222.7677