Ten Lessons For Startups By Domino’s
In today’s fast-paced digital era, staying relevant is the key. You might have enjoyed great deals on Domino’s. But, before it became a phenomenon, it was a startup. However, Dominos perfectly synthesized and incorporated this into their business model and has emerged as a global market leader in the pizza delivery segment. Dominos made relentless efforts to revamp their customer buying experience. As a result, it out-performed its competitors by digitally transforming its mechanism. In addition, it beautifully leverages technology to enhance its marketing mix. Listed below are some key takeaways for small businesses.
10 Lessons to Learn from Dominos
1. Face Your Critics
- Dominos conducted meticulous market research during its initial stages to gauge what the customers thought about its offerings.
- Taking constructive criticism with a positive outlook is extremely important. For example, after getting to know that the customers were not happy with the taste of Domino’s pizza, they reinvented their pizza.
- Dominos ran adverts where people said: “it tastes like cardboard.” Yet, they took proactive and timely steps to level up their game and emerged victoriously. Customer feedback is quintessential.
2. Innovate And Grow With The Technology
- Taking a fresh look at technology can be a game-changer for upcoming companies.
- Dominos is leading its competitors in the technology domain as it brilliantly manages its in-store orders. It is the first pizza chain to launch voice ordering on its mobile app. Its “Anywhere Program” allows one to order pizza through Alexa. They also came up with “tweet to order” pizzas. The deals on dominos are unmatched, and hence, it sells up to one million pizzas every day in the USA.
- These elements work in tandem and enhance overall customer satisfaction.
3. Rethink The Product You Are Offering
- By changing directions and diversifying the menu, one can truly innovate. It shows that the company cares about its customers, but it also shoots up the profit margin in the long run.
- Dominos extended their offerings and excited their sandwiches, pasta, and other side dishes. Various deals on dominos also lure customers frequently.
4. Value Customer Data Over Gains
- In the initial phases, churning should not be the ulterior motive of businesses.
- Prioritizing profitability mostly comes at the cost of access to valuable customer data. Retaining customers is any day more effective than attracting a new audience. Hence, having detailed customer information is a long-term incentive with several benefits with QR code scanner.
5. Give Your Business Some Time. Do Not Quit Early.
- Businesses are not a short time thing. Therefore, one must be ready to commit to it wholeheartedly for a more extended period.
- Rewards are massive over the due course of time.
6. Keeping Simple Offerings
- Before diversifying, one must perfect their initial offerings. Often simplicity results in top-tier quality products; hence, an effective business model. When offerings are uncomplicated and smooth in the early stages, it is convenient for customers to purchase the product.
- For almost 30 years, Dominos offered two standard pizza sizes with 11 toppings.
7. Top-Tier Services And The Promise To Retain It
- Making challenging yet doable promises is the key to success.
- Delivery within 30 minutes after placing the order was a brilliant idea. Such deals on Dominos act as an incentive for the actual customers as they would get the pizza for free if not delivered within the stipulated time.
8. Hassle-Free Process For Customers
- Businesses must always think of ways to appreciate and retain their loyal customers. Saving your audience’s precious time is always a cherry on the top. Hence, always tend to go back again as it is their preferred choice.
- With Dominos Zero-Click app, customers could automatically place their previous order if they were unable to decide within 30 seconds. A simple yet, a compelling idea can make an immense impact.
9. Have Unrequited Faith In Yourself And Your Team
- Dominos used to be a no-place-to-sit restaurant. The majority of the people did not like them. People even compared their pizza to cardboards. But with their sheer will, commitment, and unwavering dedication, it is now a multi-billion dollar company present in every nook and corner of the city.
10. Going Digital
- One must keep up with modern-day changes and incorporate them into their business. Today, everything is available at the click of a button, and this convenience enhances the customers’ overall experience.
- One can benefit significantly from the right technology, apps, and software.
As the old saying goes, the customer is the king. Once businesses understand and implement this saying, the sky is the limit. Therefore, along with grabbing great deals on Dominos, small businesses must take inspiration and ideas from them to take their startups to greater heights.