✌️ The Wellness Revolution Is Coming For Homes

Happy Trends Tuesday!

Today we’ve got:

1 trend alert
1 piece of operator wisdom
1 startup sector you should know

Let's get to it.

🚨 TREND ALERT

Boosted by covid lockdowns, there’s a rising interest in “wellness design”: Spaces designed specifically around human health, well-being, and comfort.

Two of the most in-demand wellness features are outdoor spaces and air-filtration systems. Google searches for “wellness room” have also increased by ~70% since 2019, and searches for “mental health room” have doubled.

And yeah — we’re sure everyone would love a lush garden and a meditation room. But there are other opportunities here, too. Three we have our eyes on:

Wellness Home Makeovers. Target new owners, sellers looking to boost their asking price, or landlords in budding tech cities like Austin and Nashville. “Wellness audits” could be a different way to go — especially for niches like expectant mothers, those who work from home, or people recovering from illnesses.
Bring Nature Inside. Outdoor spaces are top of consumers’ want lists, but they’re not always attainable. You don’t even have to jump into the (arguably saturated) indoor plant market: Research shows that artificial greenery, and even photos of plants, can have a positive impact on wellness.
Short-Term Rentals. There’s a limit to how much you can maximize fresh air and outdoor space in your own home. But don’t worry — there’s a retreat for that. UK-based company Unplugged offers digital detox cabins ~1.5 hours from London and boast a 90% occupancy rate. Similar cabins cost just $10k-$30k each.

✅ LINKEDIN PROFILE PLAYBOOK

Whether you want to sift for a gig or flex on old friends, we can’t say.

All we can do is hope you take this LinkedIn Profile Playbook and start giving yourself the credit you deserve. Use this to spruce up summaries, craft thoughtful posts, and grow a neighborly network.

🧠 OPERATOR WISDOM

Patrick Campbell is the founder of Profitwell, a software company that helps entrepreneurs grow subscription revenue.

With insights from thousands of companies, Campbell tweeted a great playbook for surviving this down-cycle and coming out the other side even better:

Cut, Cut, Cut. “You’ve been a drunken sailor the last two years,” Patrick said. “We all have.” Your goal now is to trim expenses enough to extend your runway out two years.
Shore Up Your Customer Base. When times get hard, everyone reevaluates their spending. Some customers will leave — you can’t stop that. But you can minimize the pain by focusing on your “tactical” churn — the customers you’re losing because of weak processes:
- Cut 10%-20% of churn simply by addressing payment failures
- Grow LTV 200%-800% by converting monthly subscribers to annual
- A good salvage offer can keep 25% of the people who try to cancel
- Send reactivation campaigns after 60 days to anyone who cancels
Double Down on Expansion Revenue. This is the money you make from cross-selling and up-selling existing customers (increasing order value, frequency, and lifetime value). Some ways to do it:
- Add-Ons: Done well, they can boost LTV 18%-54%, fast
- Value Metric Pricing: Scale price based on usage
- Multi-Product: Companies with multiple products grow 30%-50% faster than single-product companies
Cut Your Discounts in Half. It’s counterintuitive, but discounts over 20% will actually double your churn. Your sales team might think you need to discount more. But often, when you cut discounts, you close just as much business (but make more money in the process).