Let’s discuss a fictitious small town, Lubbockito USA, and use it to illustrate a point:
There are six restaurants in Lubbockito:
- Subway
- SideShowSubs #233
- McDonalds
- Burger King
- Carls Jr
- Rob’s Special Burger
Let’s say you’re a restauranteur and want to bring Lubbockito a new option, hoping to cash in on the Lubbockitizen’s wallet share. There are two right answers for what new restaurant to open:
- A sub or a burger joint, because that’s obviously working and people seem to like those
- Anything other than a sub or burger joint, because that “obviously working” market is well done
In churning, there are parallels for credit cards, bank accounts, bonuses, loyalty programs, and plenty more. If you find yourself uninspired with the Chase Banks, Walmarts, Wells Fargos, and Hyatts of your world, take a look at the options that you aren’t hitting. There’s plenty there.
Happy Monday!
Did you know? Rob’s serves hotdog shaped cheeseburgers in Lubbockito.