As a retailer, this means it’s hard to diversify your offerings and remain competitive. If you want to diversify the smart way, you need to understand your customers and your brand.
Humans are creatures of habit. We tend to stick with what we know. We like the products and services that make us “happy enough” and we’re often hesitant to go out on a limb and try something new.
Customers shop for specific reasons. Don’t offer them something they don’t want. If they love your low-cost products then don’t try to sell them a high-priced luxury item.
Your customers’ reasons for shopping with you are part of your brand. Always take the time to step back and question whether your idea for a new offering matches your brand. If you fail to do so, your new offering could flop. Worse still, you could alienate your current customer.
A diversification campaign is much more likely to succeed when you understand why your customers buy what they do. Get to know them, and you’ll start to understand what keeps them coming back.
Edo Japan, a healthier alternative quick service restaurant, needed to really look at who their customers were and what they wanted. Edo’s traditional sushi dishes weren’t selling. To diversify the offering, we worked with Edo’s Marketing team and used the Ball ReShift Process to understand why people weren’t buying traditional sushi offerings.
We found that Edo’s customers were looking for familiar alternatives to the Teppan meals that they enjoyed at the restaurant. As a result, Edo created a delicious, healthy, non-traditional sushi meal, containing absolutely no raw fish. We helped name it the Easi Platter and executed advertising to resonate with the typical Edo customer.
People loved it. It was the platter that Edo’s customers didn’t know they always wanted. Sales exceeded expectations with an increase of 82% over the benchmark. Franchisees are selling ‘their’ kind of sushi, and the Easi Platter has become the #1 selling platter at Edo.
Learn more about how our ReShift process can help you achieve results like these.