What should you do when your customers start moving to the competitors?
After 2008 financial crisis, the customers started rejecting #starbucks because its prices were high as compared to the competitors.
As a result, it had to shut the stores and lay off the employees.
However, when Howard D. Schultz returned as company’s CEO, he rolled out “My Starbucks Idea” for the customers.
Through this initiative, the customers could exchange ideas with each other and could give their opinions directly to the company headquarters on everything.
93,000+ ideas were shared by 1.3 million users on social media, where customers around the world connected with each other.
Starbucks implemented over 100 ideas out of the received ideas.
Starbucks successfully implemented a B2C strategy in tough times which positively impacted their sales.
Different but orchestrated B2B and B2C engagement strategy is key for any company specially during challenging times to build and sustain brand awareness.
#Turnaround #Starbucks #BrandBuilding #Customers #transformation #b2c #b2b