Is Expertise no Longer a Competitive Advantage?
An article appearing in the Harvard Business Review, titled, The End of Expertise, talks about how expertise is losing the respect that for years had earned premiums in any market where complex knowledge is valued. Talk to people in such professional service industries as private banking, auditing, consulting, even engineering, and you begin to hear concerns about the commoditization of professional knowledge. So much of what Customers would have called an expert for in the past, can be found online in a few minutes today.
If genuine expertise is no longer commanding its traditional premium in the marketplace, how can professionals differentiate themselves? It comes back to relationships; building strong, solid relationships, based on emotional connection, trust, and empathy. It is back to the future, where technology has taken us 360 degrees by knowing your client as a person and genuinely being interested in not only him/her as a Customer, but as a person, with a family and dreams.
Brand Loyalty on the Decline
Research shows that loyalty is on the decline. Consumers are considering more brands and switching providers more frequently than ever before. In fact three-quarters of major brand categories have declined in loyalty status. Loyalty has changed and businesses need to know it isn’t just about more coupons, points and promotions. Ask yourself if your Company’s loyalty program is truly to reward your top Customers or more of a marketing ploy to get them to spend more. A gift for your VIP Customers should be that, a gift. It should not be a promotion that only allows them to purchase a product or service that they are not interested in, with a paragraph of restrictions that apply. A great way to think about recognizing and rewarding your best Customers is through gratitude. When someone shows gratitude, it genuinely shows appreciation, with zero intention of benefitting from the act of gratitude.
Superior Education has Never Been Easier
By delivering top talent via two-way video, Geniecast makes education and professional development more affordable, and allows companies to access subject matter experts and expose their teams to higher education. As the world’s first and largest marketplace of thought leaders, Geniecast marketplace has thousands of programs led by “Genies” who are experts in a variety of topics, ranging from Customer Service and business best practices, to leadership and other trending industry topics. The DiJulius Group is thrilled to have Geniecast as a partner at this year’s Secret Service Summit September 29th – 30th.
The Secret Service Summit is SOLD OUT!!!!