Roy's Blog

October 29, 2012

Why do successful people offer chocolate and vanilla?


Can you imagine if an ice cream shop only offered vanilla flavor? Or just chocolate? Vanilla and chocolate lovers might be satisfied for a while but the business would likely not succeed.

Different consumer tastes require different flavors..

Do you know the tastes of the people who do business with you? The people who care about what you do and buy from you regularly? Your fans expect you to create Value that is SPECIAL to THEM.

Can you provide too many flavors? I think so. To me it suggests shotgun thinking. Provide 50 flavors and you’re bound to appeal to some, but it’s a waste of resources due to the misses. In addition, I find too much choice frustrating and annoying.

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Give me 3 flavors in my ‘relevance circle’ (the main flavors I select more than others) and I am happy to pick one that fits my mood at that moment.

A sprawling product line is expensive. We all know the result of excess inventory. Discount clearance pricing and bang! you’re a commodity supplier.

Too few flavors on the other hand limits business; additional sales are missed by not having a robust enough product line.

But a thoughtful selection of flavors based on fan purchase behavior grows business and customer loyalty.

— Select flavors that are coveted by your ten most valuable customers that provide you with a disproportionate amount of your revenue.

— If you can’t name your top ten, look at product sales. Pick the ten best selling flavors over a 12-month period. Focus on them.

Conduct feelings research around your top ten fans or flavors. Why do people like the flavors? What FEELINGS do they create when they consume them?

— What other flavors, that you currently don’t offer, would interest them and why?

Know your fans. Know what makes them feel special.

Treat each of them differently.

Cheers,
Roy

Check out my BE DiFFERENT or be dead Book Series

  • Posted 10.29.12 at 10:08 am by Roy Osing
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