How would you like to have raving fans, who'll drive hundreds of miles to your stores to pay higher prices than your competitors charge?
REI has stores like that and I love to buy from them. They have great gear and knowledgeable staff (who actually use the gear). But they don't always have the lowest prices. In spite of that I go out of my way to buy from them rather than their competition.
Why?
Here's why:
That's right. A 100% satisfaction guarantee, no questions asked, for as long as you own the product.
I have a friend who went into an REI store with a tent he'd purchased over a decade ago. He wanted to order a replacement pole for one that he'd lost. They told him they couldn't get one exactly the right size. So they gave him a brand new (and better) tent.
Did they lose money on that transaction? Absolutely. But, they understand the lifetime value of a customer. And they understand that outdoor lovers talk.
The cost of a tent was a small price to pay for the number of people who've heard that story since it happened. REI's customers think they'd be crazy to take the risk of buying from someone else.
What's the story your customers are telling themselves?
