Marketing Lessons I Learned from Nike
Attitude,  Challenges,  Clients & Customers,  Communication,  Entrepreneurs,  Marketing,  Prospects,  Questions

Is your business like Nike? Lessons from an athletic shoe company

Last week, I shared about how your business changes over the years and how that change will impact your dream clients/customers.

My core message was to ensure you connect with your power dream clients/customers and interview or give them a survey so you can take into account their needs before you implement your changes.

This week, I promised to share some interesting insights from Nike (and the athletic shoe industry) – focusing on sales from a unique perspective. And how these insights can help your business.

My spouse, during her college years, supported herself by working part-time at Athlete’s Foot. She was one of their top salespeople.

She knows running and athletic shoes like no one else I know. She’s done enough marathons to really know athletic shoes. (If you need some advice on a good athletic shoe to get – let me know I’ll ask her. 🙂

Two of the biggest frustrations her customers had:

  1. When an athletic shoe company like Nike came out with a new version of its shoe, for some customers, it didn’t fit right any longer.
  2. When they discontinued the shoe and her customers had to find a replacement and ideally just wanted their old shoe back. (I’ve actually had this same issue with Asics running shoes.)

So it was up to her to find other options, either from Nike or other brands, to suit her customer’s needs. She had to do her homework and know all the athletic shoes.

And THAT’s how she became their top salesperson. Plus, it helped that she was also an avid runner and marathoner.

After listening to the frustrations about athletic shoes, my curiosity was piqued by this core question – Why do athletic shoes need to keep coming out with new versions and new shoes in the first place?

The interesting answer is that these types of shoes are made with a rubber outsole that adds durability and grip, while the inside of the shoe is foam to help absorb the shock of the pavement.

Hence, shoes have a shelf life before they start breaking down, and also you can wear them out.

Another reason why your favorite shoe may come out in a new, improved version is because of new technology.

Then you get into the whole fashion part of athletic shoes (I saw this in Vogue Business.), and things start to get crazy with price, design, and new shoes drop EVERY WEEK – yikes.

Let’s look at your business – Is it like Nike?

Do you know your customers inside and out like my spouse did? Have you done your research to know what they’re struggling with and how what you’re offering will help solve their biggest challenges? Are you speaking their language?

If you’re selling products, courses, or services – Can it be improved by coming out with newer versions? How can you create something even better and more updated?

This is one way to create a more sustainable business. Yet you need to be careful and ensure you tell your dream clients/customers WHAT you’ve changed, the percentage of improvement, and most importantly, WHY you did what you did and what’s the big benefit for them.

Little known fact – whenever you change ANYTHING in your business – you ALWAYS have to tell your dream clients/customers “The why” of the change.

Even if you’re just increasing or decreasing your prices – and I’m not talking about saying you just wanted to pass along savings. That’s ok, but what’s the BIGGER reason why you’re passing along these savings?

Some examples –

  1. You’re improving the current version (updated tech, platform, etc.) and want to sell the current product and offer savings to them (Remember using the word “discount” really degrades your business and compares it to retail – don’t be tempted to do it.)
  2. You’re not updating the product/course/service and are sunsetting it, so it won’t be available any longer…

These are all valid reasons. I find the truth is always more authentic than fiction.

One last concept is knowing your competition, much like my spouse did.

And if what you’re selling isn’t the right fit, refer them to your competition. That’s really what Soulful Marketing is about.

It’s a win-win for everyone. And I wouldn’t look at them as your competition.

No one can be you – you’re unique!

So if you’re not the right fit – be “a rising tide because it floats all boats.”

There’s plenty enough business to go around – promise.

And remember – you’re in the relationship-building business.

Last week I reviewed Bernadette Jiwa’s book – Marketing a Love Story, and here’s my favorite question – “What if marketing was less about promotion or coercion and more about reaching out to people and helping them to solve problems?” Yes, yes, and triple, yes!

And it’s about developing lasting relationships with your dream clients/customers and showing how much you care about their struggles and challenges and how you can help them.

So go out there and do great things – your dream clients/customers need you!

Quote I’m Pondering:

“Understand that ‘spiritual consciousness’ does not necessarily refer to a man’s religion, but rather his awareness and understanding of his true identity.” ~ John Randolph Price, The Superbeings: The superselling guide to finding your higher self.

Two Mantras to Inspire:

I am strong, powerful, and fearless.

I am open to receive.

What I’m Reading:

3 Words I Used to Sell 100,000 Books: A Counterintuitive Strategy for Nonfiction Authors by Andrew Kap

Latest Book Review:

The Last Law of Attraction Book You Will Ever Need to Read by Andrew Kap

Weekly Photos: Seasons are finally changing, and it’s coming up roses in our yard – yay. Then there’s Emma’s new portrait after she got a summer trim. I’d say she’s looking pretty stately for all of her 9 years.

Then one of my favorite times of the day in the spring is our chilly mornings by the fireplace on the deck with our pup, blankets, and coffee, watching the sunrise – oh so grateful. What’s your favorite time of the day? Then one of my favorite hiking shots of the sun through the trees. And another view of Shasta Bally with its snow caps and those beautiful clouds.

NOTE: Want to use Soulful Marketing to skyrocket your next course/product or service? Below are a few ways I can help:

  1. Jump on a complimentary Call with me. I promise you will leave our call with at least 1 – 3 actions that will impact your business immediately.
  2. Get my 7-Step Soulful Marketing System. It contains all my best stuff on creating and launching your products. Plus, you get proven templates, tools, and worksheets, all for a very low price.
  3. Looking for Guidance – One-on-One Coaching-Consulting – Now is your time to create the success you so deserve. Work directly with me to get more clients/customers and market and launch your offers with authenticity and integrity. I have a couple of openings. Would love to see how I can help you. Schedule a call.
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