So what does sticky mean?
Sticky brands offer some specific value that inspires customers to ‘stick’ with them. That value can be a variety of things - reliability, convenience, quality, or shared experience.
Sticky workplaces are created by employers who listen to employees, address their concerns, and foster a sense of community.
The biggest challenge every organisation has been having in the past few years is ‘attraction and retention of talent’. It’s so oft-repeated it has become a cliche. We have enjoyed a long period of low interest rates which, combined with plenty of Quantitative Easing sloshing around in the global economy and post-pandemic pent-up demand, has resulted in an overheated jobs market - more jobs than people to fill them. It has become imperative that organisations think carefully about how to get and keep the best people.
But the downturn though?
Yup, we are definitely experiencing a correction, but as in all downturns, there will still be opportunities, new sectors to target, money to be made. And most importantly there will be time to strategically focus and retain the staff and clients you already have and optimise the relationships that led you to where you are now.
Is your organisation internally sticky?
Key to being in a position to avail of these opportunities is stickiness. The word sticky makes us think of honey or syrup - a good comparison because sticky companies are pretty sweet. They have higher profits, lower stress, better customer service, stronger relationships between leaders and their teams, more time to focus on operations, and reduced costs going towards recruitment and training.
How’s your customer stickiness?
Customer stickiness is a marketing term describing the tendency to gain repeat business. Stickiness determines the likelihood of a customer “sticking” to your brand by making a purchase more than once.
Many factors go into your brand’s stickiness, including relationships, trust, quality, and user experience. It’s important to understand how sticky your business is if you want to gain insight into why a customer is repurchasing your products or continuing to use your services.
Sometimes things that appear complex are actually quite simple: the key to stickiness is communication. If you want to double down on your communication and ramp up your stickiness drop me a note.