To continue to innovate and dominate your niche business, you must know your dream customer's business and what will help them succeed.
Ultimately, your dream customer's success is your success. Understanding what they need to be successful allows you to continue to maintain leadership in your niche. Lesson: Putting your customer's best interest ahead of your own will help you dominate your niche. Leaning on the outcome of focus groups, our buyers knew that 50% of their customers wanted healthy food. Marketing with that knowledge, they loaded their shelves with salads and low-calorie items. Studying the research, we knew that the focus groups also revealed that a much larger audience (100%) wanted flavor and taste. Understanding this was valuable to our buyers and to us. So, we developed products that focused on flavor and taste. We also worked to help our customers be successful with these products. We provided menus, experts to coach them, suggested menu pricing and offerings, training seminars, and of course, all the products they needed! Lesson: Helping your customers succeed in selling your products makes you both successful. What are the products we developed? Fried chicken, fried potato wedges, and Stouffer's Macaroni and Cheese! While others buy Stouffer's Macaroni and Cheese by the pallet, we buy it by the semi-truckload! Let me tell you, when you buy Stouffer's Macaroni by the truckload; you can buy it much cheaper. Both you and the customer benefit from this savings. Lesson: Focusing on your niche business affords you buying power that benefits you and your customer. Focusing on our niche business allows us to buy chicken by the truckload. Buying in bulk affords us significant savings that we share with the customer. Focusing on our niche business allows us to buy potato wedges by the truckload. Buying in bulk affords us significant savings that we share with the customer. Lesson: Focusing on your niche allows you to have more buying power, which explodes your profit, blesses your community, and advances your purpose. Does this challenge you? How can understanding your customer's business expand your niche business? Connect with me and let me know. You can message me on LinkedIn or email me harryt@cultivatingimpact.biz. Harry T. Jones P.S. Maybe someone forwarded this post to you but you can receive my latest ideas in your inbox by signing up here: HERE.
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