When Apple’s value is growing, more and more people discuss how long its success will last. I think that, to analyse and value Apple, it’s necessary to consider the strong relationship Apple has with its customers. As usual, I read an interesting analysis at the Asymco blog, but I think that one of the comments (signature ”davesmall”) hits the nail:
”Computers have about a five-year life cycle, smartphones maybe two years. With 95% customer satisfaction, a couple of hundred million customers are going to be upgrading their devices every two years. They’re not going to switch to Android or Windows Phone. This means the base business is renewable. Apple is not just a factory producing hits. The customers are repeat customers.”
Well, there are always some people who nag and complain, and there will always be some people with a bad consumer experience, but 95% customer satisfaction… Hey! That’s a whole lot of satisfaction!
If you scratch the surface of that satisfaction, there are a lot of clever people who also understand that there are good reasons why they like their Apple devices. The devices are the result of good teams working at Apple, with clear goals and a desire to make a difference. I think that from the moment a person adds that understanding to the customer experience, stable trust in Apple as a company follows.
A lot has been written about Apple and Steve Jobs, and there are reasons for that: Apple is an amazing company, and the greatness seems to be consistent almost all the way from the surface to its inner core. I write ”almost” because there is a question mark about the working conditions in some of the factories. Though I love and trust Apple, I also trust that they will find a way to solve those problems.
Since 1988, when I discovered the beauty of Apple, I have been frustrated by people who do NOT understand what Apple is about. That question mark has now changed to a happy smile. We are a large number of Apple customers worldwide, and 95% of us are satisfied with Apple’s products. I think Apple is totally worth it, but at the same time, it’s like a fairy tale.
