Feb 24, 2006

I’ve been urged to switch banks recently and it seems pretty attractive. Not because I can get a .00001% higher interest rate on my savings account but because I can go to the bank from 7 to 7. I’m buying into convenience.

Everyone said Wal-Mart really took off when it started putting a Wal-Mart on every city block. But putting one on every city block wasn’t what made them the largest retail store in the world. Wal-Mart understood the importance of convenience. That’s why there is a Wal-Mart in every city. A lot of people interpreted this as, “if you put one in every city, you will be successful… Just like Wal-Mart”. But Wal-Mart did this to add convenience. They understood that 24-hour support meant a whole lot. And that allowing their customers to go to one place for every need was valuable. They also understood that by offering convenience, their customers would reward them with loyalty.

Would you like to be rich or just have happy customers/users/etc.? Find something to make your users/customers life more convenient. Find something that allows them to spend less time doing the services you provide and more time to do what THEY WANT.

Good luck and let me know if you have good ideas.