I was at a party where they were serving mini burgers, party pies and cupcakes, and it got me thinking about proportions. While their larger brothers and sisters (burgers, pies and cakes) are equally delicious, there is something about the ratio of ingredients, fillings and icing etc. that makes mini versions of some things extra special.
I also saw a poster for Smashmouth (most famous for ‘All Star’, ‘Walkin’ On the Sun’ and ‘I’m a Believer’ on the Shrek soundtrack), who are touring soon, and I wondered whether they would be able to fill a venue anymore. I was thinking if I were the band’s management or a promoter I would be getting them in as an opening act, rather than trying to sustain a solo tour. (As it happens the Rooty Hill RSL has them booked in Sydney!). It goes against the widely held belief that business should always be growing, but I would argue that knowing one’s limits and being aware of proportion could help marketers of some products and services. Being a support act could be less profitable than being a headline act, but it may also have a lot less stress and and provide access to a new, broad audience. I’ll never forget going to a concert with one of my friends where he was much more excited about the opening act that the main act.
Niche marketing works for many luxury products and services as they can be tailored, high mark up offerings, but what about other industries? How do you improve without growing the number of outlets, customers or products? For services, perhaps it lies in improving services, lowering costs and overheads, and increasing efficiency. Increasing quality of service will potentially allow for a price premium in place of increasing the number of customers but decreasing the quality of service.
A friend of a friend sells shaving accessories (blades and brushes in particular) and we were discussing his mission for his company. I thought it was unique that he had a venture that he didn’t necessarily want to be as big as Shaver Shop or Gillette, he just wanted to stick to his passion and have a loyal following of customers. What is the best ratio for your marketing offering?