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Turletti leads sustainable efficiency and profitability across the organization through innovation, management and marketing @ ROI Marketing Institute
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6:10 a.m. It was a very cool November morning in Sedona, and Danny picked me up in the middle of a pitch black, starry night. He and I are about to embark on his one of the most enjoyable flights possible. Watching the sunrise from a hot air balloon.
On the way to the field, we had a casual chat about how everything from gas to meat to diapers has become so expensive in America these days. I felt like I noticed a decline in service quality and value on top of rising costs. You only get it now if you pay for it.
Talking to Danny that morning in Sedona wasn’t the first conversation I had with anyone who felt this way about the current state of service. It is clear that consumers feel that management is not prioritizing efficiency, quality and accountability.
Having done business in several countries, I couldn’t help but think how peculiar to Americans is this tendency to just endure these changes. Millions of international travelers don’t want to pay the bare minimum fares. In 2019, international visitors spent her $233.5 billion, supporting an industry that generated $1.9 trillion and her 9.5 million jobs. Inadequate value generation puts its bottom line and some industries at risk. This is even more pressing as international and local travelers alike recognize that there are many other travel options available.
3 things companies forget
As inflation rises, businesses need to realize how customer behavior relates to their own business shortcomings.
1. Collective impact of consumers on brand perception: Sometimes we forget how individual actions and interactions add up over time. He who openly complains about bad services or products may look like one person falling into a pond, but millions of drops can create a pond.
2. You can choose to stop engaging: Warren Buffett once said, “Price is what you pay, value is what you get.” If the price seems too high compared to the value consumers receive, they can move on to something better. Unless companies start to recognize this reality and actively work to combat it, they will lose their customer base.
3. The importance of excellent service cannot be overemphasized. In the world of management, I feel that excellence has become a “nice-to-have” goal when it should be an operating standard. Aiming for excellence is not enough. It must be produced and delivered. If excellence becomes the mantra of our production models, we deliver it. If we strive for it, it simply means we don’t have it.
If management keeps looking only at the income statement, one day they wake up and find that most of their services are done abroad, most of their travel is in foreign lands, and about $500 million per day is gone. I understand this. It’s time to remember that profitability in business is not just about making money. It’s about how you make it and how it impacts your business, your clients, and society. Most importantly, it creates value for everyone.
Embark on an American values ​​crusade. we deserve it!
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