In retail businesses, too often people ignore the fact that it takes more of an effort to develop completely new product than it does to create a variation of an existing one. More people need to understand how important it is to re-invigorate their company’s existing product to re-activate their customers.
Here’s an example I like:
20 years ago what was Nabisco doing with Oreo? Three sleeves of cookies in a box. Now? Flavors (Minis, Double-Stuffed, Mint, Peanut Butter, etc.), packaging, apparel, and more. They have made sure that people who were eating Oreo cookies 20 years ago have every reason to continue to love them today.
So how do you make the change? It starts with the productivity of your workforce. The average worker is capable of doing a lot more tomorrow than they are doing today. Though, most employees are too caught up with the things they are already doing and they don’t think they have time for a new approach.
Increased productivity is something that can be achieved by making small changes to your daily routine getting up every half hour to walk around the office and step away from your desk, maintaining a to-do list, meeting regularly with your superiors to assess your day-to-day activities and how it aligns with overall company goals…doing all of these things gives you more time and a clearer mind to brainstorm new ideas like the folks at Nabisco do everyday.