Make It Work for You

Fewer people who used to do it, are doing your thing.

Fewer people go away on luxury vacations.

Fewer people eat at four-star restaurants.

Fewer people eat at midpriced restaurants.

Fewer people cook like Julia Child at home.

Fewer people buy brand-names at the grocery store.

Where are all these people? You might guess…

The folks who used to go on luxury vacations splurge with a dinner at a four-star restaurant now and then.

The folks who used to eat at four-star restaurants discover mid-priced restaurants are a fine trade-off.

The people who used to eat at midpriced restaurants buy a couple of new kitchen gadgets and start cooking restaurant(ish) food at home, just like they’d always planned to learn.

Those who used to buy the brand-names are fueling a boom in private label (“no-name” or store brand) sales.

Okay, we all feel bad for the luxury vacation folks (until you consider that some of the people who used to have a summer house now just take a glorious week on the Rhine instead…) and everyone else who’s at the top of the food chain. But if you’re someplace a bit lower on that food chain, there’s a trade-off being made right now that could help your business.

Sure, fewer people who used to do it, are doing your thing. I hear that all the time.

Except that fewer people who used to do something else, are doing that. Why not embrace and encourage that trade-off, and find a way to speak to a market you might never have gotten near when we were living high?

If it’s time for you to go against the grain and embrace trade-offs, this might be a great day to try:

Selling to bigger businesses than you used to (they’re thinking they can’t afford their old high-priced, full-service provider of XYZs anymore)

Breaking into a wealthier market that’s not usually interested in small fry (show ‘em your Customer Experience kicks a** compared to the fat lazy company they used to deal with, of course!)

Speaking, writing, and teaching on your subject to reach larger audiences than individual products or services can (sort of like mass-production of your ideas)

As long as you’re not at the top of the food chain, recognize that you have a great chance right now to graze higher up than you ever could before. Take advantage of trade-offs—and you can help your new customers benefit from realizing that they’ve found a hidden gem in you.

 

Grow and be well,

Kelly Erickson

 

P.S. If you do think you’re at the top of the food chain, redefine the food chain. Someone is making a trade-off that your company should be in on, right now.

P.P.S. People make trade-offs in any economy. Worth noting.