Herd
One of my favorite books is Different: Escaping the Competitive Herd. Youngme Moon, a professor at Harvard Business School, explores how some companies break through the noise of competition.
The photo above is an exercise from her class where students came up with ideas for a new loyalty program. Loyalty programs are drowning in competition. What company doesn’t have one? I have hundreds of plastic cards collecting from everywhere. And I don’t think a single one has made me more loyal to anything.
What you’ll notice in the image is a constant theme of the book. Companies that escape the herd often do the opposite of whatever everyone else expects.
By definition, for most of us, a loyalty program makes it harder for a customer to quit. But what happens if you throw away the basic premise of a loyalty card and try the opposite. Make it easier for customers to walk away.
Isn’t...