Signaling the opposite of what we were known for increased our overall sales, but why?
Would you rather be 1 of 5 businesses in your category, or 1 of 10,000? The answer surprised Joe and revealed a way to hack deep-seated customer psychology that transformed a key segment of his start-up business and expanded our total addressable market. Not only did the change drive sales and enable the business to scale, but it reduced staff anxiety, energized the customer experience, and established a partnership with a would-be competitor.
Key Questions and Take-Aways:
- Is your market differentiator too isolating? Your unique identity, may be too unique for the market you need to grow your business.
- What good is acting inclusive if you're signaling service to only a small customer base? Do more good by being relevant to more people.
- How can solving operational issues to scale your business also mature your brand's identity as the business grows? Treat customer awareness like an inventory resource.
- What happens when you see other businesses in your space like your customers do: not as competitors but as complements? (Hint: growth in new markets.)
