What A Company Must Excel At To Thrive Today

By Author: Mingki Tsui
Total Articles: 1
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We're All Customer Service People Now
In September 2008, the Forbes 400 List of the richest Americans saw Warren Buffett and his bridge partner Bill Gates swap the number 1 and 2 spots again. But there are two new additions to the top 5, a couple of Sam Walton's boys, S. Robson and Jim.
There are two other Walton sub-clans: Alice Walton, and the apparent familial holding company, Christy Walton & family. That is how it always appears, almost as if the ® sign were accidentally left off. At any rate, if Sam were still alive, with his fortune in one piece and his young'n's still waiting for their inheritances, he would be as rich as Gates and Buffett combined.
The fact is, 2007 was the first year since 1989 that not a single Walton placed in the Top 10. Now they are almost 50% wealthier than a year ago while so many other gazillionaires are being downgraded to plain old zillionaires and the economy is tanking. It sends a clear message: When the going gets tough, the tough go to Wal-Mart.
Customer as king
Wal-Mart's down home success, occurring at the same time that those New York sophisticates ...
... Stearns and Lehman are getting bailed out or going broke, is a ringing endorsement of several working class principles. The first, of course, is having the low price, always. But close on its heels is, Customer is king.
While Buffett lost $12 billion and Gates took a beating, the Walton family surged ahead on the strength of, to put it simply, being a little bit country and a little bit rock-and-roll. Hip enough to bring in teens' all-important entertainment-related brands (from iPods to fashion), the store took early stands against certain magazines and gangsta rappers, earning them points from parents.
But the thing that put Wal-Mart over the top? The greeters. Believe it or not, the greeters at the door are second only to low price, and way ahead of quality, in the internal customer polls conducted by the company for four decades. A key marketing insight gleaned from the polls was that people don't do business with companies. They do business with other people. Commerce is really quite personal.
Service at every step
We believe in the customer service model. After the great eruption of advertising sophistication (some would say manipulation) in the postwar era, and the rise of The Salesman, many companies took on a new mantra of sorts. We're all sales people now, they would intone. Every clerk, every janitor, every accountant was expected to sing the company's praises and cultivate business with their relatives, neighbors and PTA-mates.
As they say, that was then and this is now.
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After all, we're all customer service people now.

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