| “What Business Feeds Your Business?” |
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“What Business Feeds Your Business?”
Some of these are easy to pick out. A carpet cleaning business refers customers to us every week. A carpet store could feed our business (of selling vacuum cleaners). A carpet cleaning business would (and does) feed our business.
But the business that was being talked about at the bootcamp was the information business.
No matter what you sell...no matter what service you offer...there is at least one information product out there talking about it. There are books, CDs, DVDs, seminars, websites, forums, consumer groups, collectors, and a complete sub-culture of people thinking about your product or service right this very minute.
Do you sell cleaning products? Have you written any articles about how to use them effectively? Do you sell kites? How about a short book about the history of kites and the different types of kites? A short DVD showing how to control a kite. A short DVD on “The 7 Most Important Features To Look For When Buying A New….” . You could apply this to any product. You can offer this DVD (as an example) for a few dollars on a website. You could run tiny display ads offering the DVD for free locally, and driving the customer to your website to get it. Of course, you would follow up with a Gift Certificate good only at your store...and only for the DVD receiver. This idea is absolutely positively guaranteed to be profitable.
You see… some buyers are impulsive; they come in and buy the first thing that makes sense. Others are more “research oriented”. They want more information before they buy. There isn’t anything wrong with them getting that information from you, is there?
You will be the expert in the mind of the customer. They will seek out your advice about their need for your product.
You would be amazed the difference in person’s voice when they find out I wrote a book.
Writing a short informative book is less than $2 a copy. A DVD can be copied for $2. A CD for a buck or less. These “information products” give you expert status, drive customers into your store, and make price a non-issue.
When your doctor prescribes a bottle of pills, do you try to negotiate the price? Do you ask where you can get them the cheapest? No. Because your doctor is giving you advice, not selling.
You don’t need to be a doctor to give advice. Ever ask a waiter what they recommend? Ever ask the local landscaper what you should put in your garden to kill bugs? Do you try to negotiate the price of what he recommends? Nope. |