Many of us reading this article can probably say they bought a new TV in the past few years. The big excitement this year is the 4K TVs that will give you the best picture imaginable. Today\u2019s prices are much more affordable than what they were when the first came out. For a few hundred dollars, you can now watch TV in 4K, compared to the thousands of dollars they used to cost when they first came out.<\/p>\n
When the 4K TVs first came out, there was a small customer base for them, but now since they lowered their price, their customer base grew substantially.<\/p>\n
This reminds me of many tanning salons when sunless booths first came out. There were salons that would sell one single session for nearly $60. Today, you can find tanning salons that sell that same session for only $10. But, is lowering the cost of the session to build your customer base a good thing?\u00a0\u00a0 That\u2019s the question!<\/p>\n
Taking a long, good look at your customer base and ask yourself these questions. Are you looking to grow your customer base because it has been stagnated for the past few years? Is your average customer age growing per year due to the younger generation not coming in? What is your plan today, right now, to building a new customer base? Lastly, is your marketing geared toward one demographic specifically \u2013 so you are missing out on a certain age group, or are you using the same marketing for someone that is 18 and someone that is 55 years old? In both cases, it won\u2019t work.<\/p>\n