Customer Psychology: Using Surprise and Delight In-Store | Seth Marks
Seth Marks shares his background in family businesses and the importance of energy, customer advocacy, and partnerships in business. He discusses the power of trust and collaboration in drop shipping and revenue sharing, emphasizing the significance of finding the right value together instead of haggling over prices.
Marks also highlights the importance of new and novel items in brick-and-mortar retail, encouraging retailers to attend trade shows and build trusting relationships with vendors.
Marks shares his experiences in the retail industry, emphasizing the importance of obsessing over the customer and creating value, as well as the challenges of dealing with inventory and pricing. He encourages entrepreneurs to seek out like-minded individuals and find the right partners for a successful business.
Key Insights
0:36: Exploring the impact of family businesses over corporations, emphasizing personal connections and history at a trade show.
5:23: The power of partnerships in business is crucial for success and growth.
10:03: Value-driven collaboration in business leads to success and sustainability.
13:34: Importance of quality over quantity in partnerships, and the transformative impact of finding the right ones.
17:50: Unlocking opportunities through reverse logistics deals with customer returns and end-of-life inventory.
22:38: Maximizing sales by strategically timing when to engage customers and make purchases.
26:37: Importance of involving all disciplines in a deal to avoid logistical challenges and ensure profitability.