Interesting interview with Seth Farbman, the new chief marketing officer of Gap, in a recent edition of Marketing News.
A key performance indicator (KPI) for product success is employee purchases.
When a new product comes out in the store, the Gap can know quickly if it will be a runaway hit based on whether or not the employees are buying it.
Gap employees are representative of their target audience. They are passionate about the product, about the brand, about how to help customers, about how they educate people on what’s new and what’s interesting.
They believe in the company, as such, they are a great early indicator of whether a new product will be a hit or not. If the employees get excited, the customers will get excited too.
Would you benefit from sharing your new product development efforts with your employees?
Might doing so help get your customers more excited about your new product offerings?