DOING THE ‘RIGHT THING’ BY YOUR CUSTOMERS HAS NEVER BEEN MORE IMPORTANT
Coronavirus will change the world as we know it – but “how” it changes the future of business, is up to us.
Today, businesses must stand for something to create consumer loyalty, trust, and be successful. The future of business – postCOVID-19 when the need for brand trust will be at an all-time high – lies with consumers. However, brands often overlook the importance of ‘doing the right thing’ to cut costs. The flaw in profit-only thinking is that customers come second, and in turn, trust is lost.
At Retro Fitness our brand position revolves around our customer, both in and out of the gym. In each market we serve, Retro Fitness is franchised by small business owners; an owner who is proud of the community they serve.
COVID-19 provides businesses the opportunity to create a culture rooted in care and trust. Putting people before profits is a practice I introduced my first day at Retro Fitness, and one we maintain today. Retro Fitness froze memberships due to mandated club closures, acknowledging that for our members every dollar matters. To meet the needs of our franchisees, we waived club royalty fees. These weren’t easy financial decisions, but undoubtedly the right decisions for our customers.
Despite these trying times, I invite CEOs to “do the right thing” – because while people should always come before profits, what businesses do/don’t do, will define brands for years to come.