We’ve talked a bit about Frugal Fatigue, or that pent up demand that consumers will be looking to release once the sun and the moon align. Recent solar events indicate that the time is near for that demand to be released.
When it hits, will you be ready on every front?
Things to consider before the next boom
Your entire approach to business should map to consumers’ buying habits. And, over time, these habits change. They change with technology. They change with new information. But most importantly, they change via an innovator; one who dares disrupt the paradigm of thought around a business that makes us unable to view that business the same way ever again.
Remodelers and kitchen and bath dealers need to think differently. Innovation will come to our industry and our choice is simple: Lead, follow, or get the hell out of the way.
If there is one thing that we’ve learned over the past six agonizing years, it’s that selective elimination is at play in business, as well as life. Manage change now, before you fall back on the “I’m too busy” excuse.
Here are some of the things we need to consider from a different approach:
1. Consumers want to be educated before they buy.
- They don’t understand our business
- Our products are too complex
- They don’t even know where to start
Education is not about barraging them with details on every bell and whistle in a cabinet, or every component of how you will accomplish their build out.
Education is just what they need to know to help them make the right decision. This is your opportunity to take complexity out, become the trusted advisor and remove some price sensitivity.
2. Consumers want answers in a reasonable time frame
- They don’t have time to prioritize this project
- They want to remove any guess work
- They don’t want to make the wrong choice
If you are taking two weeks to get back to a consumer and presenting only one plan choice, you will likely lose in today’s market.
3. Once their choices are finalized, they want a smooth, coordinated project
- Your systems need to create visibility for all involved in your business
- You should provide everyone with an assistant. This “electronic employee” allows you to keep your business out of individuals’ heads and into successful, repeatable processes.
If you’re still schlepping job folders and white boards, you likely consider your fax machine “new” technology. One system, with full visibility is what it takes to elevate you above your competition.
The Peaks and Valleys
Think about the roller coaster ride of supply and demand in our industry. Your job trend tends to lend itself to seasonal peaks and reactionary tendencies. Your hiring trend always tends to lag; we hire late and cutback late. In other words, we’re reactionary.
If you were to use software as an assistant, you could smooth out the curve, handle your volume and not face lay-offs or other un-pleasantries. And, since it costs so much to hire, train and keep your employees, you’ll realize even more savings over the long haul.
Find out more about how Equilibrium can help you scale your business.
“It is not the strongest or the most intelligent who will survive but those who can best manage change.” Charles Darwin
