So, you’ve positioned yourself as a premium product or service provider. Now, you have the daunting task of "keeping it fresh."
Last week, I was reminded of this reality while visiting with a gift store owner in a neighboring community. Her store began with a spot on strategy. At start-up, she was not at all confused about her offering, the price range, and or customer’s needs. Today, the store is several years old. Some of the product lines have been maintained throughout the store’s history. In the gift industry, lines come and go – three years is a very long life-span. This business owner needed to keep it fresh instead of waiting until the product quit selling. She needed to beat her customers to their boredom by offering replacement products that were even better and more interesting than their predecessor. Thus it is in all of business.
First, we must stay true to mission and experience: that which the customer loves about our business. Simultaneously, we, as business owners, must keep the flame alive. Variety is the spice of life, and customers demand spice. In a retail setting, you must cycle product lines and spend marketing energy educating existing customers about the story and profile of the new products. In a service or manufacturing environment, you must add complimentary and/or expanded products or services. Regardless of business type, this process prevents one-time shopping by creating added interest (and spending) that unfolds over a long relationship.
