“Babe, I need the small ones……Babe, I need the small ones!”
The difference between a successful CEO and a designer/engineer or the average person is that a CEO does not think about risk, does not think about failure, and only sees success on the horizon NO MATTER WHAT. Successful CEO’s wiring is all together different from the average person.
As most of you know, whether you wanted to or not, we have concentrated and focused primarily on higher end, high quality Medal Displays an have achieved great success.
Nell and “Night Train” Uncle Neil and I have had many discussions about introducing lower price point Medal Displays. I have been the one hesitant to go down this path as the criteria for me if we were to go that route were, the Displays would have to be uniquely different than anything else and that they be the highest quality Displays at that price point. The other issue I considered was that there was already a large number of companies competing in that space. I was the roadblock as far as adding this new product line.
We first introduced our smaller Displays two years ago for the BAA and the Boston Marathon, because when the BAA tells you to jump, you say, “yes, Sir!, …yes Maam!, How High????” I am somewhat joking but they really did want more SKUs from us so we rolled out our SSMS3, or smaller Stainless Steel Medal Displays for the Boston Marathon only. They have been a hit.
This past December, we did a pilot run, introducing our biggest selling design, in a smaller version at St. Jude Memphis Marathon. On a Sunny, beautiful afternoon, in the finishers area, our smaller pilot run Displays were the hottest thing going. The small pilot run was successful.
So the decision that Nell has been pushing for quite a while was made to go “all in” for LA and now offer many of our popular designs in a cute, smaller version at the $50-$80.00 price point. In LA 67% of Nell’s transactions were for our SSMS3 or smaller Displays and we still sold about the same number of large Displays that we typically sell at a large event.
The sale of the smaller Displays is revenue that would have otherwise been lost to our competitors. By adding the new line, they serve as an “easy on the wallet” buy type product and help us spread the high overhead costs of these events across more event sales transactions. In short, LA Marathon weekend was very good to Blue Diamond Athletic Displays, INC.
This has been a historic weekend in Blue Diamond Athletic Displays, INC and once again we have redefined the Medal Display Market and landscape and will continue to do so in the future.
Nell the CEO was right and this Valentine’s Day, I will be eating some humble pie….but it will be SWEEEEEETTTT Humble Pie!!!
Good Times, Noodle Salad
hangers Displays by Blue Diamond Athletic Displays ( these are not hangers 😉