Starbucks is one of today’s top thriving coffee shop chains after being able to spike back up into success after the 2008 global financial crisis. A lot of businesses had to close down because of the crash, and it was even claimed to be as bad as the Great Depression in the 1930s. However, co-founder Howard Schultz, his partners, and their team managed to strategize their way back up, despite the losses that plunged them by 97%.
Starbucks is one of the biggest models for brand image, marketing, and organizational culture even before digital marketing became prominent in the modern age. They are one of the first companies that realized the importance of building customer relationships and providing experiences rather than just offering a cup of joe when it comes to effective marketing.
How can you apply their principles and impact change in the course of your own business marketing strategy?
#1 Reward Customers
Starbucks started their customer reward system when they established their first Starbucks Rewards card. However, this isn’t the only path your business can take to successfully establish a relationship with your customers via rewards. With the availability of online platforms, you can reward your customers by hosting giveaways through social media. The best times to host these giveaways are during the holidays, company anniversaries, and seasons when people are technically wired to buy more.
#2 Social Media Marketing
If you don’t have a platform where your products are visible to the online community, then you’re missing a large percentage of sales that you could be getting if you got your business into social media. Being present on social media platforms is a highly effective way of providing value through accessibility, service, and product awareness.
#3 Accept Feedback and New Ideas
Accepting feedback gracefully is a tried and tested way of improving your service and relationships with customers. Starbucks valued new ideas and feedback as much as any good company did, so they created a platform solely for their customers to share their ideas and feedback. Ideas.starbucks.com was born out of that mission — making it one of the reasons why they are able to successfully adapt to change despite the tightness of the competition.
Starbucks has always made sure to show how much they believe in their market, making their customers accustomed to believe in their brand. As long as the company showed their appreciation to their customers, they will always have a bright spot in the market. This ability to build an incredibly loyal customer base has evidently helped their company shine through challenges thrown their way.
Digital marketing is one of the best ways to show that appreciation to your customers today. As a local outsourcing company in Davao, we aim to create the same emotional connection with the customers of our local and international business clients. Let us help you create that connection. Contact us today.