Entering the Give First Economy

We have entered into a new phase of business.  It is just the beginning of this phase.  It is what I called the "Give First Economy."

This is good news if you are the customer.  We know this because we have lived through the "Automation Economy."  This stage was (and in some cases still is) when companies do everything they can to automate everything from the phone systems, to customer service and everything in between.  This phase left the customer frustrated and annoyed much of the time.

This is also good news if you are a company that has always focused on service.  You want to provide a great customer experience all the way through.  This is great news for you because you are already ahead of the curve.

This is bad news for "the automators."  The large companies that are clearly more focused on the customer's dollar than the customer will struggle.  These companies are not only not concerned with the customer's experience, they seem annoyed the customer has an opinion about it at all!

This is happening because of the shift to the "Give First Economy."  Social Media has truly given power back to the Customer.  And it has just begun.  Customers have more information than ever before at their fingertips.  They have more options.  And because of that third group, customers have more cynicism. 

So as a business, we need to (you guessed it) Give First.  We need to provide value to the customer.  We need to show integrity, credibility, honesty, personality.

Here's the funny thing: this has been brought about by newer technology but this is old fashioned business.  Get back to shaking a customer's hand and looking them in the eye.  Provide THEM a referral before you ask for one.  Share an article that helps them.  Send a thank you or a birthday card.  Be sincere.

Give First.  You will be thrilled with what happens next.