If Burger King’s profit soars through the roof, how would that make you feel?

As an executive and a decision maker at a medium to large retailer, hospitality or restaurant company, it should make you very envious.

What do they know that you don’t?

Consumer spending is like fishing with the tide. The tide of dollars is either flowing your way or it is not. Do you know which way the revenue tide is flowing? In addition, a wise fisherman will be where the fish are.

How do you catch more of the tide… and more fish?

1) You need to know more about the currents in your market and the timing of those market currents.
2) You need to know more about the fish, what attracts them, and how you can catch more of them.

Wouldn’t it be nice if you could get the fish to “jump into your net” with just the right knowledge of their habits, likes, and dislikes?

You can bet that Burger King and other successful retailers know a lot more about the currents and the fish than you do.

Are you going to fish or cut bait? Does Starbucks (sales were down 8% in the last quarter) know the tides? Or have they lost track of what really matters?

It is important to know your customers intimately, but you must know a lot more. Burger King knows its potential customers, and its competitors’ customers, very well. That is where the growth is coming from.

Do you know who is eating your lunch? Do you know how to eat instead of being eaten? As the economy tightens in the coming year, you had better be able to answer these questions. The days of easy growth are closing fast. Your competitors will be looking to grow their market share, and it may come from your hide.

If you can acquire a deep knowledge of your market and potential market with strong, actionable, interactive relationships, you can harness that knowledge to grow your business.

Here is an example: A retailer we work with discovered, as we engaged with tens of thousands of their customers and browsers, that a larger portion of the traffic in the stores was much older than the retailer’s younger demographic.

Why?


Martin Hoffmitz
VP, Client Partnering
BehaviorWorx Inc.
Tel: 416.251.0111 x250
Mobile : 647.287.4491
Fax: 416.251.9489
Email: martin@bwxi.com
Web: www.bwxi.com