KNOWLEDGE

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How good are you at manufacturing customers?

Nike, the world’s market leader in sports shoes, doesn’t own one single shoe factory. But they own 33% of the customers (the nearest competitor owns 16%).

Techtronic pays around US$700 million dollars for Milwaukee Electric Tools and AEG, as reported in the beginning of September. But what did they really buy? More factories? Or more electrical tool customers?

One Hong Kong company owner told us he produced electronic goods for several brand leaders. But in the stores, his price tag was sometimes one third of the price tags of the others – even though the products were virtually exactly the same.

So, obviously you can do well without a product-manufacturing department – as long as you have a professional customer-manufacturing department.

Why does Toyota pay $2,000 per customer, when the others pay the double?
Spending a bit of effort in manufacturing customers is often very profitable.

You may know that Toyota is the third largest car manufacturer in the world. But did you know they are by far the most profitable one? Last year their profits were larger than the Big Three’s combined!

And even more impressive – Toyota pays around $2,000 per sold car in promotions and marketing, whereas the others pay $3,500-5,000.

So, not only is Toyota more skilful in manufacturing cars, but apparently they manufacture customers more efficiently as well. Now, how about your company? How efficient is your Customer Manufacturing Department?

Here are a few hints on how to go further.

1. Customer manufacturing blueprint.
A customer doesn’t care where you have manufactured your product, as long as he trusts your brand.

Before he trusts you, he has to have a positive attitude towards your brand. And before having the right attitude, he needs to know about you.

Awareness –> knowledge –> attitude –> trust –> preference –> purchase.

This simple development chain is true for every business. So, have you given your market a chance to prefer you? Do they like your brand? How many know you? How many are even aware you exist?

2. Nobody needs your product.
There is no shortage of products any longer. Whatever a buyer wants to have, he can easily find more providers than he cares to deal with.

The truth is nobody needs you, your products or your company, except you yourself.

So, you have to make your products and services needed. Or, put in other words, make your customers aware about your brand’s benefits.

Again, look at the simple chain above. Don’t you think you would have more customers if more people knew more about you? Isn’t the truth that you have to chase customers, instead of them chasing you, like with the more well-known brands in your business?

So, since you are saying it yourself – why don’t you start building your brand more efficiently yourself?

3. Next step – cost-effective customer manufacturing.
The Tomorrow Group are specialists in customer manufacturing, and we are particularly useful for companies producing complex products or professional services – hi-tech, telecom, industrial, finance and other professional services. We work with American Airlines, Bacou-Dalloz, Du Pont, Finnair, Floaties and Uniross. We work with Western companies going into Asia, and with Hong Kong companies wanting to go to the West. Their products are never the issue, but manufacturing of customers is, and that is where working with us helps.

Now we want to work with you. Contact us for a first, free discussion.