Marketing: An Expectation Economy

To successfully market to your target audience, it is necessary to understand the trends in which they, your audience, pays attention to. Watching and tracking cross-industry trends can help you better focus your advertising and marketing dollar more effectively. The following excerpts from an online article is a start to address capitalizing in on your share of this dynamic market.

Sure, we know that what you really, really want is to be told which trends will dictate your industry. If you’re in automotive, you want to know about the future of transport; if you’re in food and beverage, you’re no doubt interested in everything healthy and green and organic. And of course you have a near-obsession with what your main competitors are up to. But in an EXPECTATION ECONOMY, business professionals should obsessively think and look cross-industry, as opposed to suffering from industry tunnel vision.

Here are three reasons why looking cross-industry isn’t just great for inspiration, but a prerequisite for understanding how to fuel innovation in an EXPECTATION ECONOMY:

First of all, focusing solely on your own industry will obscure the fact that in economies of abundance, consumers are increasingly spending their ‘play money’ on goods and services that net them the experience, the indulgence, the excitement, the satisfaction they’re looking for at a specific moment.

Secondly, limiting yourself to your own industry will make you miss important changes in consumer expectations, and will thus put you at risk of disappointing or even annoying consumers. Every industry has its own ‘innovation competence’, and the innovations they’re bringing to market not only excite their own customers, they also shape their expectations for other industries.

Last but not least, if you’re obsessed with what your direct competition is doing, you will always end up copying new concepts in your industry. Which means that, unless you’re comfortable with being a ‘smart follower’, this is not going to unleash your innovative brilliance.

Now, all of this is of course not to say that you shouldn’t actively track what’s happening in your own industry. But in the next 12 months, do also constantly ask yourself: who are our other competitors? What experiences could our product or service be traded in for? And what can we learn from other industries setting consumer expectations across the board?

Tracking and understanding THE EXPECTATION ECONOMY is not a science; in fact it’s a nice mix of experience, intuition, and knowing your sources. Grab your notebook and camera and start taking EXPECTATION ECONOMY notes and pictures.

Find competitors and non-competitors, big and small, who are setting consumer expectations much higher than you’ve ever been able to. Then compile what you think are now the global standards for whatever it is you do, and from there start thinking about new goods, services and experiences that at least incorporate those standards, and preferably outdo them.

With a little practice and perseverance, you will begin to see trends that you as an owner can utilize to capture your target market. Sometimes, being the biggest is not necessarily being the best.

(Courtesy: TrendWatching.com

Read the entire story at

http://www.trendwatching.com/briefing/)

A New Cup For Cuppy’s Coffee Owners

Rising costs and economic forecasts has led Cuppy’s Coffee to find a more reliable and cost effective cup for its franchisees. Currently, Cuppy’s orders 3 different cup sizes and 3 different lid configurations causing confusion within the company and its franchisees. (this is just the hot cups)

Now Cuppy’s Coffee is set to release a cup that works for both hot and cold drinks. The cup is also recyclable, giving cause to the environmental waste concerns of both the company and the public it serves.

The new cups features the IMx technology meaning that beverages served in the new cups maintain the ideal serving temperature of 155F to 175F longer than a single paper hot cup with sleeve. The new cup will also adorn the new revised company logo.

Now instead of using two cups, one for hot and one for cold, the new cup can be used for both. An all in one cup! The insulation properties keep cold drinks cold without the need for a sleeve and while eliminating condensation from the outside of the cup keeping it comfortable to the touch. One size is all that is needed for new cup. No need for different sized lids for the various sizes. This reduces cost to the franchisee by having a cup that can accommodate flat lids, dome lids and hot lids on all 3 sized cups. In other words each lid type is universal and fits all 3 size cups, allowing the franchisee to stock just one size, while simplifying the ordering process.

The new cup is fully recyclable which eliminates the need to double-cup requiring twice the energy, twice the waste, and emits twice the amount of greenhouse gases. This news will be great for customers and communities that are mindful of the waste management issue. At Cuppy’s Coffee the hope is that everyone will recycle the new cups.

2nd Cuppy’s Coffee Franchise Opens in Pennsylvania

Mechanicsburg, PA is one of the newest Cuppy’s Coffee, Smoothies & More to open. The owners have put together their barista team to start serving up delicious espressos and smoothies to an anxiously awaiting town. “Working with our FSM, Stefanie, has been a pleasure. Both my wife and I love having her in our corner throughout the entire process.” stated the owner during their soft opening. We are looking for great things out of Mechanicsburg and would like to congratulate them on opening their Cuppy’s Coffee location.

Here is the story reported in the Patriot News 

Jason Winters had a light bulb moment while in a coffee shop on business in New Jersey.

“I saw a guy sitting at a laptop and I thought ‘Why not open a coffee shop?’

This week, he, his wife, Joanne, and their son, Hunter, 8, are celebrating the grand opening of Cuppy’s Coffee Smoothies & More at 6416 Carlisle Pike, Silver Spring Twp. in the Silver Spring Square (with Wegmans and Target). The shop opened late last month.

Never heard of Cuppy’s? You’re not alone. This is the second one to open in Pennsylvania.

The 2-year old national chain operates more than 70 locations in the United States and Canada and is undergoing aggressive growth. The company aims to become a household name much like its counterpart, Starbucks, with more than 200 Cuppy’s scheduled to open nationwide this year.

Coffee is at the heart of the menu with standard drinks along with lattes, mochas, espressos and iced coffees. They blend smoothies in flavors such as mango breeze, berry delight, Cuppy’s colada and strawberry banana extreme.

Breakfast kicks off with egg, bacon or sausage and cheese croissants, French toast sticks, bagels and cereals. Lunch delves into sandwiches such as ham and cheese, turkey and bacon or roast beef barbecue along with salads and soups.

A kids’ menu focuses on peanut butter and jelly, apple sauce and milk, and a child-friendly section of the restaurant has toys, books, movies and learning laptops. The menu also includes baked goods — cookies, muffins, assorted cakes, cheesecakes, pies and chocolate-covered pretzel sticks.

Prices range from 99 cents for a bagel to between $5.95 and $7.25 for sandwiches.

The Winters will link up with nonprofit and community groups to do fund-raisers with a portable coffee cart. Wi-Fi is available in the restaurant.

Problems in Franchising: Avoid these Costly Mistakes

It takes a lot of money to build a business, and you certainly don’t want to waste any. Check this list of 7 costly mistakes to avoid.                                

1. Letting emotions rule. Falling in love with a franchise concept is a common mistake. Don’t let your emotions guide your decisions. Use your head, do your due diligence and take the time to thoroughly investigate the franchisor’s offering.

2. No professional team. Don’t try to do your own financials, contract reviews, or negotiating. The cost of professional franchise attorneys, accountants, and advisors is money well spent.

3. Too little cash. Lack of capital is the number one reason franchisees fail. Item 7 in the UFOC will tell you how much money you’ll need with a low and high range. Be smart-go with the high range. Then ask current franchisees if the numbers are high enough.

4. Penny wise and pound foolish. Choosing one franchise over another because the initial franchisee fees are lower is shortsighted. It assumes that all franchises are alike and nothing could be further from the truth. Choose the franchise with the proven concept and strongest track record.

5. Too much help. Payroll is the biggest part of overhead for most franchise businesses. New franchisees often hire too many people or pay too much in wages. A good franchisor will provide a good staffing plan. Stick to the plan.

6. No comparison.  Never buy expensive equipment, supplies or inventory without shopping around first. Even if your franchisor offers group purchasing, do your own research, shop as many vendors as you can, consider aftermarket suppliers, and weigh different financing options (loans or leases).

7. Marketing blunders.  As a new business owner, you’re going to be targeted by every ad salesperson around. Ignore them. Follow your franchisor’s marketing plan to the letter to avoid wasting thousands.

Cuppy’s Coffee: Pitfalls to Avoid in Business-Part 2

Continuing with our series on pitfalls that may hurt your business, the following topics deal with procedural issues that you may or may not be doing. The success of your business has many different faces and paths. You will need to navigate the terrain carefully in order to survive in today’s competitive market.

Marketing? What’s That?    

You’re open! You’ve told everyone in town about your new business and to come by to sample your wares. They came  in but you forget or didn’t take advantage of the moment to market your business. Marketing is the planning, implementation and tracking of procedures and ideas to help increase store sales and awareness of your business to your target market. Forgetting to market at every opportunity, you may begin to see  a eventual decline in customers coming to your location.  You may have decided that there are other factors to consider before taking the time to market your store such as; worrying about the espresso machine, the employees, the store, and lists goes on and on. These may be just a few excuses you’ve come up with. You find yourself spending more time in the store to cut costs or save money. As the owner it is your responsibility to market your store and get the customer in the door. You will have to spend the time and resources to make the cash register drawer ring. There are countless cost effective ways to get the message out to the public that your business is there.  Consult with your Franchise Systems Manager to find ways you can continue to market and increase sales. 

Change All, Quick Fall    

As teenagers we may have resented the fact that our parents knew what was best for us. They’d tell us one thing and we do the complete opposite, because we knew what was best. Unfortunately, we learned to live life the hard way. ‘If I’d only listened to my parents’ became our mantra. The same holds true for most successful franchise businesses today. Your sales are down and you’re looking for the quick fix to get things going. Corporate has advised you to do this, but you just know that won’t work for whatever reason. Sound familiar? You may have changed the drink recipes, you may have switched to a local roaster hoping to catch more of their audience, or maybe you’ve even changed the way you operate completely. Nothing seems to work and you’re looking for someone to blame.     

Sometimes it’s hard to look in the mirror to find the answer. When the wheel was invented it was a monumental invention that help transform the world. The wheel has been improved, revised and revamped but yet it’s still round. And it’s that roundness that makes the wheel work so wonderfully. The point is that a proven system that works today will work tomorrow. Changing the ways things work or the system will only cause you to go round and round with yourself looking for an answer that will never come. Getting back to the basics may be the answer you seek. Regroup, refocus and move forward. 

Negative Thinking     

Numerous books, tapes and video have been published on the effects of negative thinking and how to counter it. Believe it or not but the way you talk to yourself has a monumental effect on the success and/or failure of your business.             

Your enthusiasm suffers with a negative outlook, your body language suggests you don’t care, the tone of your voice drops and lists goes on. Try this; in the mirror tell yourself you’re the greatest of all times. Mohammed Ali did and he convinced the world. Sing a silly song to get your spirits up. Dance to the music on the radio. Look up! It’s hard to be down when looking at the sky. You’ll notice an immediate change in the way you talk, walk and interact with other people around you. Your customers will be happy, your employees will be happy and that bottom line will also start to look up!    

Pitfalls are all around us. How we decide to react to them, will determine the success and/or failure of our businesses and personal interactions. Remember that success is a journey

Looks Who Here! New Cuppy’s Cafe in Wilmington NC

Wilmington, NC is the home to one of our newest locations. The owners were very pleased with the entire process from the build out to the grand opening. “Store sales are steadily rising everyday.” the owners have reported. “I know that we have been putting some of your advice to work and we are getting some positive feedback!” Look for this location to steadily increase their store sales.

A Letter From The President

Prepared to be WOW’ed. The New Year not only ushers in a new look for our franchisees, but also a new attitude. An attitude of care and service for our franchisees, vendors and staff. Everyone at Cuppy’s has committed themselves to providing a level of care and understanding, unmatched in the quick serve industry. From our receptionist to our store trainers, you will find that attitude in every aspect of your communications with us.     

We’ve planned our strategies, laid out our foundations, now the winds of the WOW factor will fill our sails to launch us into a very successful year and beyond. This success will also be your success. Name and brand recognition, customer loyalty and much more will be evident in the new attitude we’ve incorporated into our daily lives. You, our valued franchisee, can also contribute to the success of the brand by doing what you do best; provide your customers with an experience they will not soon forget.

Doug Hibbing

President 

Cuppy’s Coffee, Smoothies & More