NewsIn the past, the pace of life was slower, which gave us more time to experience the joy of life. Taking a train from Beijing to Xinjiang took three days, and along the way, we could meet friends and learn about other people's lifestyles. Nowadays, with high-speed rail, airplanes, and telephones in people's lives, the pace of life and work has become faster. However, strangely enough, people have less and less time at their disposal. An hour long journey still involves working with a computer, and communication between colleagues relies solely on text messages and emails. The stickiness of friends has also decreased.
Recently, some entrepreneurs such as Lei Jun, Li Bin, and Zhou Hongyi have been competing to become internet celebrities, and the song of "grassroots internet celebrity" Guo Youcai has also made Heze South Station popular. In the Internet era, it seems that traffic is far more important than viscosity, and finding traffic is the key to success. But the Tiktok of iron and the top flow of flowing water may bring about and fade away quickly. What will the Heze South Station look like next year?
Business is also pursuing traffic, using various concepts, stories, and fashion to attract new customers and traffic. Enterprises attract new customers with the most favorable prices, the latest products, and the best payment terms. Even data statistics that ensure timely service and customer satisfaction are only targeted at new customers, which seems to be "punishing" those old customers. "Who makes you not a new customer?" After all, old customers don't buy equipment every year and give up viscosity in pursuit of traffic. Will they get retribution?
Sure enough, as we enter the stock market from the incremental market, the flow of new customers gradually disappears. Who will be the next "internet celebrity"? Many companies feel confused and begin to feel at a loss. When companies coincidentally think of the post service market, they find that the traffic of old customers has long disappeared. There are no repeat customers, even if there is a aftermarket, it is just meat in someone else's plate.
During the fundraising process at Vanderbilt University, Mr. Bain, the founder of Bain Consulting, learned a lesson: "It's always easier to take money from someone who once signed a check for you than from someone who never signed a check for you." After founding Bain Consulting, he formed the "Loyalty" research project, which is the only large consulting firm in the world that puts loyalty issues in its core business.
Based on these studies, loyalty economics tells us that repeat purchases from existing customers, increasing wallet share, spreading word-of-mouth, and recommending friends can greatly increase a company's revenue and profits. Bain's research results show that companies that lead the industry in net recommendation value NPS rankings for three years or more are loyalty leaders, with their revenue growth rate approximately 2.5 times that of their peers and achieving shareholder returns 2 to 5 times that of their peers in the next 10 years.
On the contrary, Chinese enterprises have been constantly chasing new traffic (new customers) in the past 20 years. It seems that customer loyalty is an antique of the last century and has long been out of date. In the Internet era, traffic is the most fashionable growth trend. Old customers have been packed into luggage boxes by many enterprises, or even left the train as a burden. In the eyes of some companies, only new traffic can bring about complete machine sales, and most of the old customers are troublemakers.
As you sow, you reap what you sow. How a company treats its old customers, and how old customers will also treat them, customer loss is an inevitable result. Changing cognition is the only way to continue moving forward, and when you know the path, it is difficult to get lost. To enter the stock market from an incremental market, the thinking mode must also shift from flow thinking to viscosity thinking, from chasing new customer flow to pursuing viscosity of old customers, in order to ensure the sustainable profit growth of the enterprise.
The development of business relies on driving force, and in today's business environment, the last thing that enterprises and individuals cannot afford is the driving force to move forward. Unfortunately, due to vicious competition, pursuit of traffic, and abandonment of stickiness, a large number of old customers have been lost, and the driving force of industry development is gradually disappearing. This is precisely the reason why many enterprises feel confused today, and it has also made many enterprises and individuals choose to lie flat.
Has "loyalty" in the 21st century really come to an end? Of course not! Don't forget your original intention and return to the essence of business. The growth code of the stock market may not really be flow, but viscosity.
