“The world has changed. Our customers have changed. We have to change, too,” — Jim Cantalupo, McDonalds
It almost goes without saying that all of our worlds have changed lately and they continue to do so. If you feel that change is unwelcome or is only ever for the worse, consider instead that destruction is just one part of regeneration.
It should nudge us to throw out the stuff that no longer works and replace it with that which DOES work today.
Take the recent news that McDonalds has decided that their offering no longer fits today’s market and, that the company plan to provide more healthy food and higher quality burgers made with more wholesome meat.
And you have to applaud them for trying.
Changing when the world and market changes, is the right thing to do and, definitely the right conclusion to draw after seeing sales fall for 12 consecutive months.
Apart from responding to their own negative press, we can also conclude from this that everyone else’s marketing and education campaigns, promoting healthier lifestyle choices, are working. This surely has to be change for the better and, which McDonalds is rightly moving along with.
I will make the point here that we are talking about permanent change in the market’s needs and expectations, detected over a considerable length of time. Temporary peaks and troughs are normal in any business, may just be seasonal and, should NOT be considered grounds for drastic actions.
But change is a constant in life. On the Internet it is even more noticeable: technology’s fast developing pace ensures this and, as I’ve always said, being flexible and moving with that development is the ONLY way to survive online. And because diversification has always been one of the keys to any business’ success. Right now it’s even more important because of economic pressures, email filtering, etc.
Different products, different target markets, different methods of bringing those offerings to the market. All these things add up to ways of “recession proofing” your earnings.
Another method being used to meet today’s online market needs is by delivering physical products. Consumers more often want something tangible. Gone are the days of excess thoughtless spending on “hot air”. Purchasers are going back to making buying decisions based on VALUE.
This is a positive effect of feeling the economic pinch.
It also opens up the online market to those of us who will provide solid information to help people make wise buying decisions. The honest who are prepared to WORK at it.
If sales are slow, stage payments or up bonuses to increase value, before you take fright and just cut prices.
People may be taking longer to make decisions, but those with money to spend (particularly the well-heeled) will research first and they will “spend well”.
“Do you want fries with that?”
… is something McDonalds shouldn’t change.
This is a good example of a way in which to make the most of the customers you already have — saving on advertising and acquisition costs — by increasing the size of their orders.
Copyright 2003 Pamela Heywood
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Copyright 2003 Pamela Heywood
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