I’ve been an avid Slack user for well over five years now.
Given the company’s rise to prominence and IPO last year, Microsoft has launched Teams and other competitors will soon follow.
Subscriptions begot loyalty, which is one of the reasons so many companies in entertainment, fitness, and other on-demand industries have shifted toward this business model. Once you’re paying monthly, you’re not as likely to experiment with another platform.
However, reading How Brands Grow last year, taught me how disloyal customers actually are. So how else can loyalty be created by a brand?
Well, for one, a brand can care for their customer and create moments that show it.
Last week, Slack emailed to let me know they were refunding me ~$50 because a member of my team (an intern) had been inactive on Slack for three months.
I didn’t let them know about the intern’s inactivity. In fact, I didn’t even realize I was paying for his account or that it had been inactive.
In order for this email to send automatically, Slack had to spend the resources to decide this was a good product feature and build the functionality in their product, even if it meant less money for them in the short term. The result is a happy customer – not only am I grateful for their generosity, but now I’m sharing it with you.
This is just good business and one of the reasons I’m long on Slack. Because they care.
From the artist perspective, what can be done to create a fans first mentality? A moment (or several) where the fans know the artist is listening and that they truly care.