Thursday, December 23, 2010

Fishing for Loyalty

Oh drat! It's not on the shelves. Sigh. Walked up and down the rows at my usual store but my fave brand of seasoning for a meanly mouth-watering fish dish was not in stock. They had the same flavors in other brands but not the one I've been using.

So, what's the big deal? Maybe someone else does it just as well hmmmm? One never knows till its tried out anyway, right? On that adventurous note I picked out 2 other brands with similar ingredients - how different can they turn out to be? Established brands, same ingredients - had I perhaps been too fussy about Brand Loyalty?

Yes, I tried both the brands and oh me oh my! You guessed it - the tastes were palatable, but really not as good as my favorite one. Even though the ingredients were the same, the proportions of them might have been different and the processing was certainly different since the textures of the sauces were just not as pleasing. That's it; experiment over - it was going to be may fave brand from now on even if it means driving over to another store to get it, so there!

Hey! Have you noticed something similar happens among teams too? Other people may come along with great credentials/personalities, but when you know how to relate to the old faithful ones, it cuts down timing and the results are more along the lines of what you would like, aren't they?

Both products and people have unique attributes that suit them for particular market segments. Often that has strong correlations with the cultural fit of the consumer with the product or service. What does that mean for YOUR business goals?

Well if you have a great product or service but are not attracting the type of customer you really really want, think about conducting an exercise in market segmentation. Why? Because your promotions and operations may need to be better aligned with what is unique about what you are good at. When they do become aligned that's when bingo! you get customer loyalty and repeat business that allows you to focus on expansion and getting new business :)

How's that for a strategy to increase your business in the next few months eh? I'd consider it an honor to segment your market(s) for you, and toss around some ideas for Brand Promotions & Delivery too so just call me at 6-03-2169774?

BRING ME THE BRAND, I'LL INCREASE ITS PROFITS!

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