Issue #4: Two Words and Tourism

May 20, 2008

Hello again,

I hope that you have been well the last couple of weeks.
Since we last got together the price of gas has gone through the roof, fermenting vegetables will apparently be the next new fuel. And for some unknown reason to most, the price of rice of all things is the next to sky rocket.

I was in my neighbourhood grocery store the other day and there was a sign at the cash that said…”Due to the impending and anticipated price increase of rice we have had no choice but to reflect it in our pricing.” The first thought I had was.. ”we are beating the rush and raising the price now”.

Thank you to so many of you who sent an email to me in regards to TED. I appreciate the feedback. More than a few are spending time with TED.

1.) www.trendwatching.com

M$M: This is a great site from the US. I was introduced to it from a friend of mine, Doug Anderson, of Hippo Media www.hippomedia.net It is a site that follows and predicts upcoming consumer trends based on research that they have conducted.
I visit it often. Spend a little time with it. It will give you a sense of what we might expect in the future.
As they say… “In business, adapt or die.”

2.) Tourism
Gas prices, the Canadian dollar, air fare prices, etc, whatever the reason, the tourist industry in your part of the country is bracing for a tough year. People are more than likely to stay close to home this year. What can you do?
M$M: Create a promotion or cross promotion with tourist attractions in your area,. You can use the local tourist attractions to your advantage. A Hometown Holiday. For example, Could you give a gift with purchase? Discount coupons? Free admission coupons?
Most tourist smaller attractions in your area can’t afford a strong marketing campaign so any publicity or promotion would probably be welcome.
My guess is that if you put enough thought into it, you could create a week long holiday for four, a different attraction everyday that would be as enjoyable for winners as if they had traveled out of your trading area. Just a thought.
Bottom-line : If consumers are worrying about higher costs of staple products, chances are they are not thinking about you. Ease the stress. They will thank you for it.

3.) Two Words

Think of a current problem or difficult situation you may be having with an employee, there are only two possibilities of why you aren’t getting desired actions or performance.

M$M: They CAN”T do what you have asked or they WON’T do it. Think of the specific issue and simply ask yourself, which one is it?
Your answer is usually there.

Now if you will excuse me, I will be tearing up my entire backyard and planting corn…and then sell it to Esso.

Brad