Video 2: Firing Customers and Finding Franks
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Video 2: a short extract from our Webinar where Ed Capaldi interviews Selim Bassoul on "Reinventing Customer Journeys".
In this part of the interview, Selim Bassoul discusses the importance of understanding and valuing loyal customers. He shares a story from the late 90s when his company was selling to celebrity chefs who were on the rise but didn't value the service provided. Bassoul made a bold decision to fire most of these celebrity chefs, choosing instead to focus on customers who truly appreciated their products and services. This strategic shift emphasized the significance of doing business with customers who respect and value the company's offerings.
3 Takeaways:
1. Understand & Value Your Loyal Customers: Prioritize customers who appreciate and respect your products and services.
2. Strategically Fire Unprofitable Customers: It's essential to let go of customers who don't value your business, even if they seem prestigious.
3. Focus on Building Valuable Relationships: Doing business with customers who don't value you offers no profit and undermines your dignity and respect.
Keeping It Simple