Synopsis of an article from Knowledge@Wharton by Peter Fader published 27th July 2020
This article adapted from an updated book ‘Customer Centricity’ by Peter Frader, which was first published in 2011 and the book has recently been updated.
In 2011 Fader wrote about Starbucks that they made no effort to learn about their customers or to understand their buying habits. This year he has updated the book to look how they have transformed to become data driven on customer centricity.
Fader refers to how Starbucks built a Facebook community, not for their product but for ‘Leaf Rakers’. The Leaf Raker’s society a secret or private group that purports to be obsessed with autumn, which is also when Starbucks puts its popular pumpkin spice latte on the menu each year.
“Facebook, as we know for better and worse, is a treasure trove of personal data — but also, and perhaps more importantly, some perspective about how and why a group of people who are passionate about, of all things, a season are also passionate about pumpkin spice lattes. From a marketing perspective, it’s a masterstroke.”Peter Fader, Customer Centricity, 2020
Its an interesting twist in how an organisation continues its innovation journey. Starbuck continues to obsess about the customer, to learn, grow and change in line with the market.
Read the full article here: https://knowledge.wharton.upenn.edu/article/starbucks-came-long-way-customer-centricity/
Or buy the book on Amazon