Last Chance!
Final Call!
Do you already feel tense?
Me too.
I talked a little about FOMO in a blog earlier this year
But you have to be careful in marketing using Fear alone.
Let’s get back to basics, why do you own/run/or work in a business?
(A-1 Make money… I get it) but why THIS business? And WHY does the business still exist?
Examples:
Because… you solve a problem.
Thirsty=Root Beer (comment your favorite brand BTW, I’m all for Barqs or A&W)
Hungry=Red Robin (talk trigger, bottomless fries, good to the last crumb)
Cold=Patagonia (differentiator – sustainability)
Tired=Serta
Athletic Status=Nike
Desire for popularity=Air Jordan
Clutter=3M Paper clips
Transportation=Hyundai (my first car, got me where I needed to go and lasted for 10 years)
Carry Heavy Loads=Ford (Tough)
I’m Bored=Milton Bradley Board Games
Build a Tribe:
You don’t just sell ‘stuff’. You sell a solution that people are willing to pay for. So why do people use tactics like FOMO to clear the shelves?
I pin that to two things:
- Excuse for a sale to attract the ‘budget buyer’
- Excuse for attention and impulse for the ‘gotta have it’ buyer
The need for a problem to solve isn’t there. Just our innate greed for STUFF. Eventually, that has a limit and a diminishing return.
Whereas Nike, they aren’t solving a barefoot issue. Tons of knock-off brands do that. They solve the need for a TRIBE as Seth Godin puts it.
To belong with a group that says “I am one of those”. And a tribe doesn’t move just because there is a deal. A tribe will move when you offer another thing, regardless of the price or deal. That sounds like a lasting business model to me.
Why?
Why does this matter? Because I’ve been talking about your plans, marketing strategy, and laying out goals for 2022. Too often we fall back into thinking our business will crank like a machine and is not affected by the world. The only thing we have influence over, are those that have bought into our company’s vision, beliefs, values, and mission.
Look at the sports world. Dedicated ‘hard core’ fans will go to sporting events win or lose, rain or shine, day or night. Painted and in the colors of the team forever. If you operate your business to win FANATICS for your products/service/mission that will last, you can become a thriving healthy company.
But with great influence comes great responsibility.
And often a greater target from your competition.
Chick-fil-a seemed to do a good job despite waiting until the mid-’90s to advertise traditionally. (50 years after the business was conceived) It’s what they call RAVING FANS, and their customer service is a huge draw of influence to create that appeal. You can’t scale taking care of one person at a time, except by hiring great people and treating them well.
Suddenly in the last 5-10 years, every other chicken joint needs to make a replica of the same sandwich. But I know Chick-fil-a isn’t worried. Because even if there is a better sandwich (for about the same price) when you leave the restaurant, they need to make the same lasting connection with the customer. Otherwise, it’s a lost cause and marketing effort.
Summary
In closing, there is a lot you can do to temporarily spike sales numbers.
But what are you doing today that will LAST years and years to come?
Here are a few of my favorite books, if you haven’t read them, please consider at least trying one of them. We invest tens of thousands of dollars into our education for a few years, and think that’s it. I believe the greatest ability, it to constantly grow, learn and adapt as the world continues to change around us.
A few things that have not changed though are the spirit and grit you build within your organization. And how that translates to a long term growth strategy.
The best time to plant an oak tree was 20 years ago. The second best time… is today. ~ Old Chinese Proverb
