How to choose your market:

How to choose your market:

I see this every day; window covering retailers who are on the verge of collapse, because they are riding a one-pedal unicycle with a flat tire.

I’m sure you’ve heard of the Pareto Principal of the 80/20 rule. Did you know this applies to your window covering business? Think about this…Starbucks sells everything from a $2 cup of coffee to a $2900 coffee maker. Why? Because they know there are people who need $2900 coffee makers, and they are usually Starbucks customers. They also know that an even larger percentage will buy a $300 coffee maker, so they sell both units right next to one another.

Your product mix is vital to your success. If you’re marketing to the masses and selling commodity products, then you’re doomed. Starbucks doesn’t attract the 50-cent cup-o-coffee crowd. There will always be a cheaper cup of coffee. You don’t want to be that guy. The wiser thing to do is offer the premium cup of coffee, and add on products which a certain group of customers can afford. Now apply this to your business.

When you target your audience, they will find you. Customers looking for draperies will search for information on draperies, and customers looking for shutters will search for information on shutters. The key to success in the next 3 years is to be the content provider for these customers, so you can be the one to educate and inform them. It’s no longer as simple as paying a Yellow Page bill each month. It takes hard work and knowledge to attract the next generation of customers.