When you’re trying to expand your customer base, you may have found yourself spinning your wheels in a rut. Don’t make people yawn when they think of what you have to offer, give the audience something that will make them sit up and take notice. Even in a bad economy, it’s easy to satisfy your old customers while attracting new ones, if you have a basic understanding of human nature.
Today, life is more about throwing it out and replacing it than fixing it. Toyota’s voluntary retirement was an exemplary move, but people are much smarter and harder to please than they used to be. Brand loyalty doesn’t extend much beyond your first bad experience, making it very difficult to recover. My wife once saw a cockroach, at one location in a large fast food chain, and now she is not willing to eat at any of their many stores, anywhere. For her, though it only happened once, seeing the brand’s logo triggers visions of the cockroach, and a mistake is a powerful revulsion in the food industry.
Recently, a major pizza chain has been counteracting lagging sales due to a preponderance of customers dissatisfied with their overall product. They’re doing it by airing an aggressive campaign that counteracts the negatives with straightforward solutions backed by positive customer testimonials and hard-to-beat offers. This is exactly what I am talking about. They didn’t sit back and complain, they knew exactly what they had to do to stop their decline, and they knew their competition was waiting for them to panic on themselves. They knew what was wrong with their product based on the feedback and did something about it.
In another example, my brother-in-law, who owns several places in a popular fast food chain, increased his breakfast crowd at all of them simultaneously, far beyond accepted corporate norms, by giving away his coffee for two full weeks. He was not required to make a purchase and could still select the size he normally drank. In fact, the coffee maker, immediately recognizing this as a winning promotion, decided to make a donation of the coffee. This was a win-win scenario for everyone involved; my brother-in-law increased his number in all four stores and the coffee maker increased his sales.
I’m not going to try to speculate on what each and every failed business model must offer to stay afloat, because if you’re in that particular business, you can calculate it quite accurately on your own. It’s not just about adding another product or service to your list, it’s about turning things around and giving the public what they want. It’s about presenting yourself in a way that makes people believe that you are totally different from the rest, offering them a way to save their money, giving them something they normally wouldn’t get anywhere else, alleviating their fears, assuring them of your humanity. showing them why you are the best alternative, giving them a reason to give you a chance.
Ever wonder how each and every insurance company can save you over $ 300 on your auto insurance by switching to them? How is it possible that all the gold buying companies give you the most money for your junk gold? Why would someone sign up for a free credit check when you can get it for free on your own? All of this is possible because a company presents itself in a different way than its competition, offering people a variation on something they can’t get anywhere else. It’s not just about offering the practicalities of a product, it’s about surrounding that offering with a message that separates the relevant from the boring. It’s about giving your current and potential customers a reason to avoid others and come directly to you. It all comes down to giving your business a unique position in the market and making it work by being consistent with your message.
As I have said before, this is the time to do it. Advertising is cheaper, especially television, people spend more time at home, become more demanding as to where to spend their money, and generally seek entertainment in these depressing times. So if you’re interested in making your business not only bounce back during tough times, but really thrive once it’s over, now is the perfect time to make it happen.
If you’re a lawyer, dentist, or doctor, you can revitalize a boring practice by offering a new, more relevant and sought-after specialty, offering free consultations, showing empathy for people’s fears and concerns. If you are a real estate agent, you can specialize in finding homes for seniors who want to reduce their responsibilities, telling them what you can do to make it a more pleasant experience, assuring them that you will be by their side at every step. off the road. You can help first-time buyers who want to take advantage of the lower-cost housing market, let them know how far you’d be willing to go to make it a more exciting experience, how you understand their need to keep things as affordable as possible, and how you can provide the exact listings they are looking for. If you’re a mortgage company, you may want to take advantage of all the bad press surrounding your business by fighting back with a feel-good campaign targeting the average buyer, while offering them a glimpse of everything you’ll do to get there. a less fearful and stressful company.
There is no better time than the present. I cannot emphasize enough that today’s economy provides you with ample opportunities to make your business stronger than ever. Rates for printing, newspaper advertising, television advertising, and direct mail have been drastically reduced. Create a name for yourself, revitalize a failing business, or add to your already successful business. Whatever your motive, or whatever you choose to do, now is the time. Opportunity is knocking at your door.
