Scott – Big Banana

PS – might as well be known for something GREAT!

The following came from Frank’s blog and he gave me written permission to share it:

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Grounds for Divorce
by Frank Lane

What will Starbuck’s do next to weaken one of the truly great Killer Brands to emerge in recent years?

First, they established the brand with strong, full bodied, European styled coffee for a different and more compelling expectation. That lured enough coffee drinkers to make them a big time brand.

Then because they didn’t appeal to everyone, they introduced lite-note coffees virtually indistinguishable from ordinary coffee. (I do not know for sure this fact, but I have been told by Starbuck’s managers that lite-note coffees which have been pushed in units for over five years have never reached 10% of beverage sales). Lesson, weaken the brand for very little gain.

Then they licensed the brand to others in other categories, e.g., ice cream. Then they franchised the brand to airports and such where people ordered Starbuck’s not from trained baristas but from fast food grade employees.

Then last week they hinted at the introduction of cheaper coffee. Today they confirm that they are introducing “instant” coffee at $1.00 per cup.

I admit they have taken a hammering from the economic situation and news shows everywhere showing people how to save money in tough times by foregoing their $5 coffee drinks. BUT STARBUCK’S SHOULD BE STRENGTHENING THEIR BRAND RIGHT NOW, NOT WEAKENING IT (NO PUN INTENDED).

Frank Lane’s Website

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While it’s true that Starbucks is a very different product than carpet cleaning, there are several parallels. Off the top of my head it is definitely time to explore and re-explore the value we provide to customers to ensure they fully understand our competitive differences and that their perception of our value is extreme.

The Starbucks parallel also gives us an idea of what happens when the customer starts to view our services as a commodity.

Yes, the economy is on everyone’s mind and it is affecting “convenience” more than “necessity” products and services as evidenced by the recent stock highs of value brands like Wal-Mart and McDonalds and lows of high-end brands like Nordstrom and Ruths Chris.

There is definitely a clear but fine line between “affordable” and “cheap”. Customers don’t like cheap but they also have to view the product or service as affordable, now more than ever.

A $5 cup of coffee may not appeal to the overwhelming majority of consumers, just as .75/sqft carpet cleaning doesn’t apply to most people. However, the majority will spring a few more bucks for what they perceive as extremely high quality vs low or avg quality.

Coffee drinkers still drink coffee just as we can’t overlook that no matter the economy our services still appeal to those who cannot fathom living with dirt. The new trick is that we have to accept that now more than ever customers are looking for higher quality at what they perceive as an affordable cost.

Scott

Branding Blahs

We chit-chatted about some of the brand basics like the logo design and company colors and he told me that he thought his brand was well created and memorable. I looked at his logo and sure enough, it was legible and somewhat easy to remember. The company name was ok (his company name is his last name) and the colors were bright and bold. But it had a few serious defects. The brand had no “life” in it. No expectation. No character. No promise. No differentiation.

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Hey there fellow cleaner, restorer, or service business owner – welcome! Here in my blog I will share with you ideas, stories, goals, and other success-oriented info. Feel free to leave a comment or drop me a line if you have comments or questions. I truly believe my God-given purpose of existence is to help others succeed. NOTHING makes me happier than the great feeling I get when people I’ve assisted smash their goals and accomplish great things in business and life.

I think it’s important to tell you a little bit about what to expect, and not expect about Banana Profits, this blog and myself:

• Please contact me if you have questions about your business, my programs, others programs, etc. You can be assured that 100% of the time I will give you my God’s honest answer. My integrity is more important than a quick buck.
• I will update this blog as time allows. I am EXTREMELY busy with running my businesses, creating new systems, and working with students in my mentoring program.
• I prefer to use email because it’s very likely I’m in a meeting or holed up somewhere creating/implementing marketing, sales, and business systems at just about any given time throughout the week.
• But if you do need to get a hold of me on the phone, please feel free to call me at 517-618-3038. I can’t promise I’ll be immediately available since I’m in meetings with my students and staff, or developing/improving systems and plans throughout most of the week, but ya never know. If I don’t answer please leave me a message and I will call you back.
• I don’t make any apologies that I’m sometimes a little blunt with my answers and comments. I’d much rather get to the point than wax on with 1,000 word replies only to arrive at the same answer. I don’t think you’ll find my occasional bluntness disrespectful, but if you do please understand that I’m extremely busy and productive time is of utmost importance to me – just as it should be to you. Time is the one thing we can never get more of so we all might as well use it wisely.
• I respect you too much to use hyperbole and fluff that some of the other experts are famous for. You won’t ever hear me say things like “world’s greatest”, “my way or the highway”, “I made thousands of people successful”, etc. It’s not my style to brag. My belief is that if I over deliver on value others will naturally say good things about me w/o me having to prop myself up.
• If you’re not successful it’s your own fault! Own up to responsibility and quit pointing fingers. The faster you take responsibility, the faster success comes.
• I respect the privacy of all so please do not ask me to share private information about others because it’s not going to happen. (and yes, I have had several ask to share my lists – the guilty know who they are)
• I will be the first to tell you that there are absolutely no new “big ideas” under the sun. Everything that we learn does not come from within but rather is an amalgamation of bits and pieces of information learned from others that we string together that make sense to us. There are no fancy marketing packages from ANY experts, myself included, that aren’t picked up from someone else. Yes, there are new technologies (like this blog, social networking sites like Facebook, videos, websites, etc) that make marketing and systematization easier and more productive, but these are not new ideas, just different delivery mediums. If you hear a guru say “I created this new form of marketing”, I’m sure that if you did your research you’d find someone else who already did it but in a different way, using a different medium, or both.
• Having said that, there IS a HUGE difference between effectiveness, style and creativity of all programs. There are effective ways to get and keep customers without having to brag or fluff yourself up. It’s true that we can’t afford to be the best kept secret around, but we can and should also keep our integrity in doing so, no matter what.

As you might have noticed I’m brutally honest. You deserve nothing less. Hopefully that’s refreshing to you because there is a lot of hype out there and it’s tough to figure out who really is in it for your best interests.

If you haven’t done so already take a look at the Pages to the right:

• Banana Profits: created for YOUR success!
• Banana Profits? Why the Funky Name?

Once again, welcome! I hope you’ll join me in the journey to the top!