Losing Customers Venti Style

Avandoned starbucks with tumbleweed rolling by

I saw an article today about the struggles at Starbucks and the fall in their sales in the USA in addition to other markets.

The reason had more to do than just current political events and conflicts.

People were pissed off at Starbucks raising their prices on some of their coffee items to above $6 a cup.

And they were bleeding loyal customers who were cutting back or leaving completely.

So is raising prices a bad move?

No..

(And for those of you who have been with me for a while I have spoken a great deal and held a joint workshop with pricing Master Susan Trivers on how to stop underpricing and actually charge more for the real impacts you provide).

Was Starbucks raising prices a bad move?

Yes and not because it got expensive.

Because the experience of Starbucks has changed from something special to something ordinary.

And they moved from the identity they built over the years into just a normal public corporation chasing quarterly profits over common sense.

And no one wants to pay up for ordinary.

Nor for the generic soulless corporation.

Which is a lesson for all of us. 

Markets and customers don’t stand still. 

You have to be on top of where they are and are going but what should remain are your principles and reason why you are in business in the first place.

Forget that and boycotts will be the least of your problems.

Are you standing out and attracting the customers you want?

If you’re pressured to discount or stressing about every cheaper option out of some exotic land than most likely you are not.

But don’t despair. Our Profit and Dine Differentiation Series is all about providing you the tools and insights to understand what your customers truly want and how to communicate you have the solution they seek.

This series is happening over two days – online on the 13th at 11 AM EST / 7 PM GST, and a live workshop and dinner on the 19th at 5 PM GST – all focused on this topic.

Seats are limited to keep the conversations personal and high quality. 

You can find out more details by clicking here.

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P.S. I work with information-based service business owners who started the business to have a better life, only to find themselves falling short and then getting frustrated by the broken promises and lack of results when they sought help elsewhere.

That’s when they find me and I show them exactly what path to take when investing their time and money to get the business and life they want.

I do it through 1;1 consultations, group master round tables and workshops and other collaborations whose insights are personalised 100% and can easily be implemented.

But don’t take my word for it, find out more by clicking here to check out our different services and resources.