Let's use a Dale Carnegie technique ... show of hands, how many of you have eaten at McDonalds?
Now, how many of you routinely eat salads when you go to McDonalds?
One of the seminal moments in my career happened at Nordstrom in 2003. We were having endless meetings about shutting down the catalog division, and at one point I mentioned that the catalog generated $160,000,000 in annual sales and about $8,000,000 in annual profit. My boss said "who cares"? Stunned, I said something pithy like "shareholders care, it matters that we generate sales and profit." Her response was even better.
- "Kevin, we discontinue items every single day. Every single day. And yet, we somehow move forward. We can discontinue a marketing channel in the same way we discontinue products. Besides, we don't want that customer."
- You can discontinue marketing channels, it's ok.
- It's ok to not want all customers.
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