Wednesday, February 29, 2012

The Dr. Phil of 7-11..Part 2

"My mother used to tell me when I was young. "Boy, money don't solve all of your problems, but it will take care of about 98.5 percent of them."

Robert Joseph Astle

About 4 months ago, I returned to Las Vegas (I was in Texas working on a website for six months). The truth of the matter? I was a fish out of water in Texas, but it needed to happen. You know how people say? "You need to leave the environment to really get an idea of how things work. Be the guy on the outside looking in." Turns out, I don't know jack squat about South Texas. On the other hand, I can tell you a ton about SW Las Vegas.

How many people are familiar with the Collective Buying Power process? Sites like Groupon and LivingSocial are the best examples. The CBP process works like this- A service or product is discounted in return for a certain amount of guaranteed purchasers'. The benefit for the consumer is simple-they save money..The business benefits as well. Increased traffic, no up-front marketing costs, buyer retention..etc..etc..Well, the process has been super successful the past few years. (2011 revenue 2.5 billion--2015 revenue projection 8-10 billion). Remember, I've been studying and trying to implement this process for a few years, without much success. I could blame money as my main obstacle, but that's not really it. The truth of the matter? I've been thinking about where things are going to much, and not enough about how to get there. I'm going to change that!

The most valuable thing about 7-11 and other places like it? People. Organic Growth strategies are all the rage nowadays. If your going to have a successful OG strategy, you had better be able to get through to enough people. Basically, your trying to get an idea to resonate throughout a defined target market-but you need people- That's what 7-11 provides! People..

In earlier posts, I mentioned how a regular at 7-11 reminds me of Wonder Women..A today's version of Wonder Women..Well, she came back into the store again. I figured 'what the hell.' She was giving me a good vibe, and you never know unless you ask, so I decided to ask her if she wanted to get a drink some time. She looks at me, smiles, and says.."Honey, not in this lifetime." After she left, I started thinking to myself..AGAIN.."You sure strike out a lot, but don't let it deter you. Reggie Jackson struck out a lot, and he's in the Hall of Fame."

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