Sales cycles: Born to be wild

Which products and services are still strong in a tough economy? Anything that can help consumers live a more economical life!

One example: Motorcycles and scooters. Two-wheelers became more stylish beginning back in 2007, when gas first spiked above $3 for a prolonged period. Sales throttled-up again last summer when fuel peaked above $4 per gallon. And now, even though energy prices have stabilized, cycles and scooters have been recognized as way to control commuting and parking costs. (See the February 9 story from MediaPost.)

We can speculate about why the sales spike has occurred… but it’s also good to know a little about who’s responsible. For 2009, the industry is focusing on college kids for their scooter business. But they’re also catering to women, upscale and older (according to an earlier MediaPost story).

Implications: What are you the economical alternative to? If you sell home theatre systems, perhaps you help the consumer save money compared to frequent nights of going out for dinner and a movie. If you sell movie tickets, perhaps you’re an economical alternative to the theme park. If you run a theme park, perhaps you’re the economic alternative to a weekend vacation.

It is important for you to think of how your product or service delivers, in comparison to other alternatives. Because that’s what your consumer is doing.

Also, ask whether there is opportunity available by looking at less traditional consumers-people who have not historically been attracted to your product in the past, but might be interested now. Last year, according to the Motorcycle Industry Council, 39% of new motorcycle & scooter buyers were women. That’s up from just 8% in 2003. And while the median age of motorcycle riders was 32 in 1990, it is now ten years older.

Mike Anderson