Ever wonder why you do business the way you do? Is there a better way?
A few years ago I met a guy who used to work in the marketing wing for Pepsi except his job was not to create crafty ads and commercials. He had a bit of a different job and this is how he explained it to me.
Consumers always want the new and improved version of a product. So his job (his team’s job) was to create new and exciting cans and packaging that would boost sales.
As it turns out when they created the fridge pack sales of the product went through the roof. In fact sales were so good that Coke took the idea of the fridge pack and ran with it and now all soft drink manufacturers use this packaging.
But they’re always on the hunt for the next big thing because “new and improved” means more sales.
Here’s another great example of a business or industry reinventing themselves and taking the market by storm.
How many times have you gone to a restaurant or event that offered valet parking? Have you thought twice about how valet parking works or did you just hand them the keys to your car?
Here’s how a valet business works. The restaurant will outsource the car parking service to a valet company. Typically the valet company that charges the least gets the job. (This explains the thin profit margins that these valet companies have.)
But one company did something different. They reinvested the business and today they are on pace for $14 Million in annual revenue. Not bad considering the best valet companies out there make a couple million a year.
They’re called Valet Girls. Yep you heard right and they’re contracted with many of the top swanky restaurant and hot spots in LA, San Diego, and San Francisco.
Here’s how they reinvested the industry. The owner of the company thought it would be a good idea to have hot models and actresses working as a valet service. As it turns out she was right.
Today, while other valet services try to under bid one another just to get the job. Valet Girls is getting paid top dollar by restaurants and night clubs because they actually ATTRACT more customers to the venue.
An otherwise mundane and boring industry like valet parking was reinvented by a brilliant woman into a multi- million dollar business with high demand.
New and improved always works.
Makes you want to take another look at how you run your personal training business, eh?
Curves reinvented circuit training – and we all remember the curves boom. Starbucks reinvested the coffee shop and look at their success.
What about you?
Are you just another personal trainer, fitness studio, or bootcamp? What’s so special about you? What’s new and improved with your business?
Think Valet Girls and let your creative juices flow.