If you had a hot dog stand, what’s the most important competitive advantage you could have as the owner?
A better product?
Exceptional customer service?
A prime location? Lots of storefronts in prime locations?
No. As important as all these factors are, the best thing you could possibly wish for as the owner of that hotdog stand is… are you ready for it?
A crowd of hungry people.
Yes. Because, with a hungry crowd, you have a successful business. Without it, you have nothing.
Alex Hormozi, author of many books on marketing, asks this question to college students to drive the point home.
And that brings us to your own marketing. What are your members hungry for? How hungry are they for it?
Are you meeting the demands of their appetites?
I’d love to hear your thoughts on this, because today’s members have many, many options. If you can identify what it is they’re craving, what they’re hungry for, and serve it better than anyone else, you’ll take your credit union to a whole new level.
What other hungers do they have? Can you satisfy them?
This isn’t about creating a need. It’s about understanding the needs that already exist and responding with a product that satisfies that hunger.
