Sunday, December 11, 2011

8 Business Lessons from Santa!

Have you ever wondered what business lessons we can learn from Santa, and his enterprise (Christmas Inc.)?  I have been thinking about this and here are some lessons that I have learned.
  • Clear mission and clear primary target market:  This guy has been bringing joy to millions of  children year after year for eons.  And so clear is his mission that pretty much everyone, from young to old, knows it.
  • Strong brand: Red suite, white beard, memorable jingles.  So simple, so powerful.  Even Steve Jobs would be envious.  Think about it, lining up for iPhone is nothing compared to the number of people who line up year after year to see Santa.
  • Multiple offerings for his target market:  Lighting products, forest products, candies, clothing, toys, music, decorations, souvenirs, TV shows, movies, to name just a few. He is clearly after share of your wallet.
  • Reoccurring revenue:  Have you ever heard of Christmas being cancelled?  Regardless of weather or economic conditions, business goes on.  In addition, as population grows, so does his customer base.
  • Strong customer retention:  Not only are his customers very loyal, they even actively promote his business.  I bet Santa doesn't spend a dime out of his pocket on marketing, sales and advertising.  Even Southwest Airlines I bet, no matter how great their service, doesn't enjoy such loyalty.
  • No turnover:  Have you ever heard of one of his elves jump ship to another holiday?  Ain't happening.  So imagine, no recruitment costs, no retraining costs, no unemployment insurance to buy. And happy elves I am sure also means much lower health insurance premiums. 
  • Strong team work:  Clearly his team enjoys what they do and feel appreciated.  Just imagine, as in Santa's workshop, what would your place be like if your people sang happy songs while working together side by side, day after day, year after year? 
  • Clear roles and responsibilities:  No confusion here.  The Mrs. is in charge of operations, Rudolph and his team run the delivery vehicles, elves make the stuff.  As for Santa, he does the delivery and is the face of the business.  The allows him to interact first hand with his customers which allows him to gain first hand information on what's happening in his market. 
Gosh, come to think of it, if he can run such a successful enterprise that truly is Built to Last, I wonder if he can get our economy and businesses back on track.  Do any of you know if he provides business consulting?  Would any of you happen to have his email address?

1 comment:

Tom Lemanski said...

In the seasonal spirit of sharing lessons from Santa, Allow me to share "Social Marketing Insight from Kris Kringle"