As of the writing of this article, the casual restaurant chain, Chili’s, is doing phenomenally well. Its sales are growing tremendously while many other restaurants are struggling.
There are a number of reasons, but one stands out to me as Kevin Hochman, CEO of Chili’s, talks about in the video below.
Chicken crispers. Yes… chicken crispers.
Hochman knew the company was making two different types of chicken crisper. Each type needed its own space in an area that was already limited. He also discovered customers ordered one type of crisper 80% of the time.
So what did Holchman do?
He stopped selling the less popular crisper.
BUT WHY? HE’S GOING TO LOSE SALES FROM PEOPLE WHO PREFERRED THAT TYPE…. RIGHT?
Actually, sales of chicken crispers are up 66%. Why? Because the focus on one thing made the product better and allowed them to make it more efficiently.
As Holchman says in the interview, “So sometimes people say they love variety, and they do, but variety can sometimes get in the way of making things consistently really, really well.”
What a great lessons for fundraisers! Many fundraising professionals feel the pressure to do more more more.
Do you know what’s working and what’s not working? Would you get a higher return on your time if you stopped doing one thing to focus on something else with a higher ROI of your time?
Here are some questions to reflect on:
- What fundraising strategies have the highest ROI for you?
- What are the 3 things you should consistently well in order to raise money effectively?
- What are three things getting in the way of doing those things well?
Don’t know how to measure your ROI? Not sure what areas your nonprofit should focus on?
That’s where we come in. We can help you evaluate your fundraising efforts, find your most effective strategies, and focus on the right things instead of everything.
All the best,
Kenny Sigler, CFRE