7 Secrets to Recession Proofing Your Salon or Spa – Part 7
By henrybakerRecession Busting Secret Number 6
Focus on Niches and Extract the Riches
Geez, we’re getting through a lot!
Quite frankly I hadn’t planned to ’spill the beans’ quite this much. I am stout believer in giving to get but this is getting silly.
Right, two more secrets to go – however, I could sit here and write at least 101 of the flippin’ things. What I’m giving you here are essentials.
Let’s pick up the pace a tad, my fingers are getting tired.
Riches in niches.
Now, imagine I’m a fishing fanatic.
Would I pay more for a 2 week general holiday in Alaska with a lodge and access to outings I could book once I was there?
Or, a specialised Alaskan fishing holiday which included a lodge on the best lake with the best fish, rods in the lodge, bla, bla, bla?
The second one…Obviously…
Right, and therein lies the secret.
Specialisation allows you to charge premium prices vs. more generic competitors. And it affords you a stronger position in the minds of your customers.
And, keep in mind that YOU control to which audience you specialise.
So, should you specialise to under 30s looking for a sun, sand and s*x on a budget of 200 quid or affluent time abundant fishing fanatics over the age of 60 with a net worth of half a million or more?
This is both about WHAT you sell and WHO you sell it to. I insist that the very best recession response strategy is to change WHO you sell to…
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