Labov and Beyond, a Fort Wayne based agency posted this on their blog this week.
Consider how it applies to your business:
Customization wins
Looking back at 2010, I’ve read several stories about how cable television is losing ground to high-speed internet services. People kept their cable tv, even in a recession, until recently. Now, people will keep their internet service, and let the cable go. Others, who can afford cable, just don’t have it anymore.
For me, I no longer have cable tv. I love Mad Men, so I buy the episodes on iTunes and watch them on my iPhone. I watch 30 Rock on Hulu. I watch Nova and American Masters on PBS.org. I listen to Sirius radio and listen to terrestrial radio shows I like on podcasts when I have time. I don’t have a landline phone at my house because everyone in the family has a cell phone.
What does this mean to us in the sales channel? It means customization is king. People aren’t buying cable because they have to pay for a lot of channels they don’t watch. People buy satellite radio when they could get regular radio for free because they can choose the types of music they like and almost act like their own program director. People don’t have a landline phone because people can call individuals directly with cell phones and aren’t limited to when they are at home.
No matter what business you are in, consider what your customers can customize. Consider what your distribution channel can control. Don’t make big packages available that throw in a bunch of things you can’t sell on their own. It’s not value added if the customer doesn’t see, or want, the value. Offer choices and let people customize as much as they can. If you really can’t move something unless it’s included with something else, then why have it at all?
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