HOWARD SCHULTZ: If You Don’t Understand The Power Of Relevancy, You’ll Be Left Behind

Howard Schultz

[credit provider=”AP”]

Starbucks CEO Howard Schultz spoke with Fast Company for its fantastic “Lessons For 2013” series, which highlights what businesspeople learned this year and their advice for the future.Schultz, who has built a global coffee empire around a gigantic consumer brand, shared his thoughts about what one of those brands must do to succeed in today’s world.

“Any consumer brand today — whether Starbucks or a product like Tide — it is incumbent upon the company to create relevancy in all aspects of your customers’ lives,” he told Fast Company.

Schultz elaborated:

“The price of admission is not good enough if your relevancy and market position is only where the product is sold. We said to ourselves that we have to be as relevant socially and digitally as we are when the customer is inside our four walls as when they’re outside — and we want to thread the equity of the brand and the Starbucks experience to multiple platforms — digital, social, mobile — that encompass all aspects of customers’ lives. This is a big thing we’ve learned for 2012, and I think companies that don’t understand it are going to left behind.”