• When 'good' isn't good enough: Spotting the 'Death Spiral', & Value Creation

  • Oct 8 2024
  • Length: 35 mins
  • Podcast

When 'good' isn't good enough: Spotting the 'Death Spiral', & Value Creation

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  • Summary

  • How to spot the 'Death Spiral' & what to do about it... 👇🏼

    The Death Spiral
    Customers that had a mediocre service won’t come back. 🚪🏃🏽‍➡️

    They’re also telling your limited pile of potential customers. 👂🏽

    Some potential customers won’t bother trying you. ❌

    So the number of customers you can attract is going down. 🔻

    Those that finally do try your product, will have cost more to convince. 💸

    But they wont try your best product, they’ll try your worst. 🗑️

    Which might confirm how mediocre your product is. 👎🏼

    So the chances of them returning regularly (if at all) goes down. 🙅🏽‍♀️

    All the while…

    Novelty in your product is decreasing. 📉

    Wear and tear is increasing. 📈

    …and competitors are building new & shiny things for your former customers to try 🪩

    Find out how to spot it and prevent it: https://www.selloutleisure.com/solweb1

    Taken from the following LinkedIn Live: https://www.linkedin.com/events/whymanytrampolineparksareclosin7249305022818058241/comments/

    For more information about This is Leisure Biz, please visit www.selloutleisure.com
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