A while back, I watched a really interesting programme on yoghurt. (Honestly…it WAS interesting!).
Yoghurt is an industry which didn’t exist 40 years ago, but now sells billions and billions of pounds/dollars/anything you like worth.
40 years ago, nobody liked the stuff. It was sour and tasted horrible. So Ski came along and added fruit and sugar and made it taste nice. Then the ad guys took over and created an ad to persuade a generation to start eating it?and we haven’t looked back since!
Go into any supermarket and you will see a wide range of yoghurts. We have diet yoghurts, full fat yoghurts, zero fat yoghurts, yoghurts for kids, yoghurts for babies, yoghurts for grown ups, luxury yoghurts, pro-biotic yoghurts, yoghurts for our digestive system, yoghurts to drink, Greek yoghurt, and good ol’ plain yoghurt.
Yoghurt in big pots, family sized pots, little pots, duo pots, bottles and tubes.
And, yes, I’ve probably missed a few out!
The thing is, it’s all just basically the same thing: yoghurt. Dressed up in different ways, and with different flavours?but it’s still just yoghurt.
So, my question to you is?how many ways could you package up what you sell?
It doesn’t matter whether you sell a product or a service, by packaging what you sell in different ways can result in you reaching a whole different group of people than you already reach, or attract more of your current target market, or have your current customers spend more with you, and so you increase the reach of your product/service to many more people and increase your income at the same time.
It also means that you’re not reliant on just one income stream: for example you could offer your one on one long term consultancy service, plus the “Surgery Package”, plus the bi-monthly workshop, plus the home study course you’ve created, plus the book?and so on.
The limit is only in your imagination?and what your target market wants?..
?.on that note I shall end on a word of caution: the yoghurt ad men (for some reason it was always men back then!) had BIG budgets to spend to literally create a market that didn’t exist before. If you have millions of pounds/dollars/etc and a talented creative team at your disposal – you can do that. I’m guessing you don’t, so research your market first and find out what they want and what their problems are, and that way you can package your product or service up in the ways that they want.
My very basic definition (based on the official version) of marketing is “Find out what your customers want, and then give it to them, whilst making a profit”.
It really is that simple. Keep that in mind whilst you’re planning your business. Ask the right questions of your customers, and come up with new ways to package up your wares.
And, if all else fails, yoghurt is a growing industry?so you could always go sell that!
Have a great week,
Dedicated to your success,