You Are In the Business of Selling Reactions - Advice from Marketing Expert Jon Taffer
Every so often, I listen to a podcast where I get a huge golden nugget. Today, I gained one of these treasures in an episode of the Rich Dad Radio Show with Robert & Kim Kiyosaki, of the Rich Dad Company, which is most well-known for the book, “Rich Dad, Poor Dad”.
In this episode about cutting out excuses with Jon Taffer, a bar and nightclub entrepreneur, restaurant consultant, and the host of Bar Rescue on Paramount Network, Taffer reveals that businesses are in the business of selling reactions. While reading an old issue of Vogue, I realized that The Wing, a company providing all-women co-working spaces, is an excellent example of a business based on eliciting reactions from its customers. The founders of The Wing understand that their customers construct their identity through membership with the company, and their co-working spaces are designed to elicit the response of “this is exactly the type of place where I want to do work.”
Products and services are only the means by which a business elicits a reaction out of the customer.
Let that settle in, and think about how you can use this gem in your business.