Lose the story, lose the sale
Anita Sharpe on Business
Why is anyone surprised that sales of Krispy Kreme doughnuts went stale after they became available almost anywhere, including the local convenience store?
It was never so much the taste of the doughnuts that people craved, but the experience of treking to an out-of-the-way quaint-looking doughnut shop and waiting in line for something that was hard to get. (And, of course, the doughnuts smelled/tasted best when they were warm out of the oven.)
It reminds me of the Coca-Cola Co. in the 1980s when it introduced New Coke and watched its loyal customers abandon the beverage in droves. It didn't really matter if the new drink tasted better, Coke drinkers were buying the story as much as the soda: Coke wasn't just sugar water; it was almost a magical drink with a formula locked away in a bank vault and a top-secret 7x ingredient that no other company could duplicate.
People don't crave convenience; we crave magic, romance and stories.
Why does it seem like business leaders were much better story tellers in years past? Is it because executives these days don't have much time for reflection or real stories --just time enough to squeeze in a little news or reality TV after a long day of sales forecasts, analyst calls and committee meetings?