McDonald’s is doing well in the current economic climate as reported by the WSJ and a lot of credit is given to the leadership of Ralph Averez, President. Readers have a number of reactions to this story including some not so flattering.
However the are a number of principles being followed by Mr. Alverez that are well worth paying attention to. These include:
“I love numbers,” Mr. Alvarez says. “I think data used well really tells a story.” He acts to create a continually improving story. For example, modifying menu offering and prices almost in real time. That is a great lesson.
He uses a baseball cap and sunglasses to disguise himself when visiting stores and testing food and service against the standards. There are two lessons here: one stay close to your customer’s experience and two, for awhile people who wear ballcaps and sunglasses and look like Mr. Alverez in disguise, may get outstanding service. 🙂
You don’t win and maintain customer loyalty by cutting the size of the serving. You eliminate all unnecessary costs and them some and keep focusing on increasing the value of the customer’s experience.
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My comments posted to this article on the site of the WSJ are republished now:
This is an excellent presentation by Janet Adamy. I really appreciate the statement “I love numbers,” Mr. Alvarez says. “I think data used well really tells a story.” He acts to create a continually improving story. That is a great lesson.
There is a huge opportunity for McDonald’s and others in using social media to increase sales and profits. I suspect that the large companies will turn to their marketing executives who will turn to their ad agencies and say let’s invest in social media. I recommend new thinking as social media is new landscape.
One reader suggests McDonald’s has got it all right. I think they are not in step with on line social media treads. This represents a huge opportunity for them.
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