Nice.
My only issue with your summary is this: choosing new customers OVER existing customers is also folly. The strategically sound option is to choose both. Otherwise you don’t get back the people to whom you have already sold, which is hypothetically your easiest sale!
As one example, right now the wife and I are re-doing our kitchen. New decor, New schemes. All the existing appliances are many years old. Sooo… there’s Samsung, with their line of ‘smart’ appliances.
Guess what I’m not buying?
SAMSUNG.
Guess why?
LOUSY SERVICE OF EXISTING CUSTOMERS.
This because of the SmartThings experience somewhat, but moreso because that was compounded by the crappy smartwatch and its crappy customer service, and the crappy customer service on my wife’s phone when it had issues, and the rampant stories of an abundance of other crappy products and customer service.
So because they failed to make good products, and then failed to stand behind those products adequately, they are losing what could have been thousand$ in sales on kitchen appliances.
There’s no way I’m handing over that much money to them and get the same shoddiness from them.
And that’s just me. There are hundreds of thousands more people like me out there.
Eventually, the “new customer pipeline” slows to a trickle… and it does that more quickly when the existing customer base has bad experiences, and telegraphs those experiences to the general population. No doubt Samsung sees billions of folks out there who’ve never had a bad experience, because they’ve had no experience. And I guess they can afford this path.
But I’m not coming along for the ride. SmartThings is my last Samsung purchase.
My appliance dollars, which are much more than my smarthome hobby dollars, will be going to other companies.
All that said, the ST staff is between a rock and a hard place in supporting this system right now. And I commend them for managing it as best they can.