What If Opportunities

At the end of both the NFC and the AFC championship games, commercials aired offering hats and t-shirts featuring the winner’s logo and the “official NFL” championship logo at NFLshop.com. This offer is no surprise to viewers. For several years, potential winners of a big event have been pre-taped answering the question, “Now that you’ve won (fill in the big event), where are you going?” with “Disneyland!” That “what if” opportunity has acclimated us to commercials which reference the win immediately. At the end of the championship games, most viewers did not stop and think, “How did they do that? How did they know that team would be the winner?”

They didn’t know, of course. A commercial was made for each of the four teams, and they aired the actual winner’s commercial. They prepared for the eventually of “What if the Packers win?” “What if the Bears win?” “What if the Steelers win?” and “What if the Jets win?” In so doing, they took advantage of a tremendous what if opportunity. Think about it. When are fans of the winning team most likely to buy? When they are most excited about the win, right? That is why NFLshop.com management aired a commercial at the end of each game. They wanted to offer excited fans the first chance at championship merchandise.

Every good retailer will tell you that striking quickly by having the product is critical. That is why after the NFC championship game the owner of a store in Wausau, Wisconsin, drove to Milwaukee to pick up championship merchandise to have in his store when it opened Monday morning.

That retailer knew his best opportunity to sell Packer championship merchandise was Monday morning. He also knew that by driving to pick up the merchandise he would be the first in his area to have it. Being quick and first helped him maximize his sales and his profits. He brought in the merchandise, marked it his desired price, and put it on the shelf. When a customer wants an item or a service and wants it now, price is not a factor. There are no discounts or dickering needed in what if opportunities. No, there is only a great deal of profit.

Think about this. Through its tracking, Wal-mart has discovered that before a hurricane hits in Florida, residents stock up on strawberry pop tarts. Knowing that, Wal-mart immediately trucks in more strawberry pop tarts whenever a hurricane is forecast in Florida. By doing so, Wal-mart is taking advantage of a what if opportunity. What if a hurricane hits? Then people want strawberry pop tarts.

Now you may be thinking, “My business is not Wal-mart. I can’t track what people want.”

While you may not have Wal-mart’s software tracking program, you do have a brain. You also know your customers, or, at least, I hope that you do. Using your brain, think through the what if opportunities for your business. Think about what changes affect your customers. What if there is a heavy snow or rain storm of which we have had a great deal lately? What if rioting in Egypt causes the price of oil to increase? What if there is an early or a late spring?

How do these situations affect your customers?

We operate in a dynamic business environment. Changes are happening every second, many of which we are unaware. Make a point to think through which situations affect your customers, creating a what if opportunity for your business. Then plan how you would handle that what if opportunity. How do you need to prepare in order to do so? Do you need to create a commercial, an e-mail, or an ad that you would immediately run? Would you need to pick up merchandise as the retailer from Wausau did? What would your staff need to know?

Answer these questions. Then implement your what if strategy. What if opportunities are profitable, but they must be addressed quickly which means that they require pre-planning. Once you are in the middle of the what if opportunity, it will be too late to prepare.

What are your what if opportunities?

Opportunity in Disguise

When you are in the middle of a problem, the last piece of advice that you want to hear is "look for the opportunity." Instead, your reaction is to get "caught up" in the problem and wallow in it. I'm certain that most Packer fans and players felt that way after the game with Dallas last night.

I know. I have been there and done that.

Unfortunately, wallowing in the problem not only sets you back but also prevents you from moving forward. When a problem concerns a customer, this is a dual-edged sword. If you expend a great deal of energy and time reviewing and discussing a customer's problem, your focus remains on the problem rather than on the solution. In doing so, you waste both time and energy, and you very likely lose a customer.

However, if you look at the problem as an opportunity to further develop your customer, you will make that happen. To do so, step into your customer's shoes and look at the problem from his or her point of view. If you were that customer, how would you feel? What would you want to have happen? Ask you customer these questions. Usually, the customer wants a great deal less than you think.

Studies have shown that customers who complain and have those complaints satisfied become even better customers. I was speaking with Deb from Denny's Appliance this week, and she mentioned a customer who had purchased an entire kitchen of appliances from her a couple of years ago. That's a very good customer, isn't it? Recently, the customer came in because of a problem with one of the appliances, a microwave. Since the company which made that particular microwave is under new ownership, the part that would fix the microwave is no longer available, making the microwave unfixable. This problem was not Deb's responsibility, but, if she wanted to develop that customer, she had to assume the responsibility.

What did Deb do?

Deb looked at the problem from her customer's point of view and realized that what her customer wanted was a workable microwave. Her customer didn't care about responsibility or blame. Her customer didn't care if a company had been sold or parts were no longer available. Her customer just wanted a microwave that worked. Realizing this, Deb gave her customer what the customer wanted.

She gave the customer a new microwave. Now, she has a customer for life.

At this stressful time of year, customers seem to want or demand more than ever. Some days many of us feel that they demand too much. And some do. Most, however, just want to be taken care of from their point of view. Usually, they want less than you are willing to offer. While this may make you frustrated, remember that it offers you opportunities to further develop them as customers.

Remember that problems are truly opportunities in disguise.

That's why last night the real winners of the game were the Packers. By losing the game, the Packers are forced to review their problems, thereby discovering opportunities. Dallas, on the other hand, is less likely to see their problems because of the complacency created by winning. Winning doesn't teach you anything. Winning doesn't force you to look for ways to improve. Winning doesn't show you the opportunities. Yes, it's great to win, but losing points to opportunities in disguise.

Whether in football or with customers, capitalizing on those opportunities in disguise ultimately gives you the most profitable win, doesn't it?