Niche To Know You (And To Grow)
Networking options have proliferated and social media platforms have democratized making connections, however, the success of your product or service may come from networking exclusively with less.
Photo: Facebook/Ralph Lauren
Ralph Lauren leapt on a more than fashionable trend when debuting his Spring 2016 collection. No, not the crisp whites or return to classic tan leathers or even his homage to chic sailing life. Rather, it was the unveiling of his new private members’ club that is the trend to watch. Not surprisingly, Ralph’s invite-only members’ club is for his wealthiest clients. Spendmership has its benefits: members receive the predictable perk of previews of new collections, but also have access to a palazzo in the center of Milan, invitations to private events and yes, coveted reservations to Ralph Lauren restaurants.
Creation of a private club is a strategic business decision, banking on future growth opportunities. The fear of networking is indiscriminate as to social ranking and title. Combine that fear with universal and apparently equal access to products and services 24/7 and what happens? The customers you value most, withdraw or even evaporate. And Ralph is not alone is realizing the profit potential in addressing this human condition…
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