Michael J. Silverstein Quotes

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• Companies that get in trouble have a failure to see two realities: market trends and competitor attacks.

  Michael J. Silverstein

  Reality, Two, Trends

  Interview with Bob Morris, bobmorris.biz. November 28, 2015.

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• All companies have many opportunities. Strategy is about allocation of resources and priorities.

  Michael J. Silverstein

  Opportunity, Priorities, Strategy

  Interview with Bob Morris, bobmorris.biz. November 28, 2015.

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• Completely understand the customer by seeking an intense, complete and empathetic understanding.

  Michael J. Silverstein

  Understanding, Intense, Empathetic

  Source: bobmorris.biz

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• Don't ask your customers what they want. This rule is based on the view that they probably don't know. You have to fully understand them, the context for their needs and their major dissatisfactions.

  Michael J. Silverstein

  Views, Needs, Want

  Source: bobmorris.biz

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• Consumers cannot think in abstractions. They cannot envision a new concept. They cannot predict their behavior. They can only compare against their current frame of reference. So you need to make the big leap for them. You need to provide them with a reason to buy, a reason to brag to their friends. Expect new-to-the-world ideas to fall on deaf ears. Consumers will, however, change their tune when they can see, touch, and explore.

  Michael J. Silverstein

  Fall, Thinking, Ideas

  Source: bobmorris.biz

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• Consumers are time constrained, budget restricted and less loved than they would like. Give them a wonderful experience and they will share it. Capture their soul and win big time.

  Michael J. Silverstein

  Winning, Giving, Soul

  Source: bobmorris.biz

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• Looks do count. Deliver visually stunning merchandising. Engage at the point of sale. Help consumers shop with their eyes.

  Michael J. Silverstein

  Eye, Looks, Helping

  Source: bobmorris.biz

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• Get out of the office. Roam the frontline. Be observant. Hold your people accountable for creating the new narrative, a new story, in which your customers are the most important "characters". Because, you know, they really are.

  Michael J. Silverstein

  Character, Creating, Office

  Interview with Bob Morris, bobmorris.biz. November 28, 2015.

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• Always welcome your customer's scorn. This rule says read the complaint letters. Categorize them. Decide how you are going to wipe them out.

  Michael J. Silverstein

  Wipe, Letters, Welcome

  Source: bobmorris.biz

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• Functional goods sold en masse earn a good return but breakthrough profits come from satisfying emotional needs.

  Michael J. Silverstein

  Emotional, Needs, Return

  Michael J. Silverstein, Dylan Bolden, Rune Jacobsen, Rohan Sajdeh (2015). “Rocket: Eight Lessons to Secure Infinite Growth”, p.6, McGraw Hill Professional

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• The starting point is to create a qualitative understanding of market drivers. You need to get into the head of the consumer and be able to tell her story. It is both art and science. The purpose of the market map is to define dissatisfactions, hopes, dreams and fears. Winning solutions respond to the distinct and specific needs of a group of consumers.

  Michael J. Silverstein

  Dream, Art, Winning

  Source: bobmorris.biz

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• The truth is that business is simple: create great products, merchandise them at the point of sale, continuously innovate and surprise, reward and achieve a position of loyalty with your front line, and seek new truth from the market. Deliver the goods at a competitive cost. Price to earn a decent but not competitively inviting return. Not much else matters.

  Michael J. Silverstein

  Loyalty, Simple, Lines

  Interview With Bob Morris, bobmorris.biz. November 28, 2015.

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• Truth is so difficult to hear about. It must be experienced.

  Michael J. Silverstein

  Truth Is, Difficult

  Interview with Bob Morris, bobmorris.biz. November 28, 2015.

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• Better ramp up your virtual relationships. Companies think omni channel is the correct answer. This is not enough. The information explosion for consumers makes 24/7 and full and complete engagement possible.

  Michael J. Silverstein

  Thinking, Engagement, Answers

  Source: bobmorris.biz

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• The Golden Rule works. It really does. Treat people the way you want to be treated. Kindness begets kindness.

  Michael J. Silverstein

  Kindness, People, Doe

  Source: bobmorris.biz

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• Epidemics of "bad" voice can kill your reputation overnight.

  Michael J. Silverstein

  Epidemics, Voice, Reputation

  Source: bobmorris.biz

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• You make money when you get visitors to go through the entrance at capacity.

  Michael J. Silverstein

  Visitors, Making Money, Entrances

  Source: bobmorris.biz

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• Too many companies are happy to have workers to dread working. They have the wrong attitude because they have the wrong leadership.

  Michael J. Silverstein

  Attitude, Dread, Company

  Source: bobmorris.biz

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• People underestimate the power of the Internet. For some consumers, it is the source of all information. Younger adults are on their phones more than they watch television. They don't read newspapers. It is their real world. It is not a set of virtual lenses.

  Michael J. Silverstein

  Real, Phones, People

  Source: bobmorris.biz

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• Woo your biggest fans. This rule says concentrate your efforts at understanding on the 2 percent of consumers that personally drive 20 percent of sales and invite their friends and colleagues to enjoy you.

  Michael J. Silverstein

  Effort, Understanding, Fans

  Source: bobmorris.biz

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• Transform your employees into passionate disciples. Teach. Create apostles. Give people a calling, not a job.

  Michael J. Silverstein

  Jobs, People, Giving

  Source: bobmorris.biz

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• Own one idea. Complete it. Map the current model of purchase and usage. Change how it is done so at least some part of the market uses only your product. Extend from that core user to a much broader universe. Describe your concept in a very short, "six-word story" - a la Ernest Hemingway: "For sale: baby shoes, never worn."

  Michael J. Silverstein

  Baby, Shoes, Ideas

  Source: bobmorris.biz

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• Define a winning proposition that is consumer right and delivers margin accretion.

  Michael J. Silverstein

  Winning, Consumers, Margins

  Source: bobmorris.biz

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• Take giant leaps. Too many companies are into incremental innovation. The only thing that moves markets is violent turns. Major differences. Don't get caught in the trap of small steps.

  Michael J. Silverstein

  Moving, Differences, Innovation

  Source: bobmorris.biz

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• Find out what schismogenesis means. Schismogenesis is anthropology. It says relationships between people are not stable. They are either moving up or moving down. The same is true for brands. You need to understand where you are.

  Michael J. Silverstein

  Moving, Mean, People

  Source: bobmorris.biz

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