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7_marketing_concepts_they_forgot_to_teach_me_at_business_school [2014/03/10 21:55]
lowjo created
7_marketing_concepts_they_forgot_to_teach_me_at_business_school [2014/03/10 21:56] (current)
lowjo [Concept Number Six: Bonuses can make the difference between marginal sales and mind blowing profits.]
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 Two examples to get the ball rolling: Two examples to get the ball rolling:
 # A local car tyre retailer knew that a common issue people with cars (and tyres) ran into was punctures. The competition sold “Tyre Insurance” for a small fee but he knew most people did not appreciate the add-on if they took it at all. His bonus was FREE Tyre Insurance with every new tyre. The market responded well and he covered the expense of the occasional claim by charging extra on every tyre sold. He was more expensive but the bonus resonated with a real problem that faced his market. (Incidentally: knowing they own a car opens up a raft of car repair, car care or care maintenance bonus possibilities both physical and informational). # A local car tyre retailer knew that a common issue people with cars (and tyres) ran into was punctures. The competition sold “Tyre Insurance” for a small fee but he knew most people did not appreciate the add-on if they took it at all. His bonus was FREE Tyre Insurance with every new tyre. The market responded well and he covered the expense of the occasional claim by charging extra on every tyre sold. He was more expensive but the bonus resonated with a real problem that faced his market. (Incidentally: knowing they own a car opens up a raft of car repair, car care or care maintenance bonus possibilities both physical and informational).
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 # Slightly less obvious is the unstated bonus material a local lawyer uses in his practice. As a talkative, friendly chat he quickly and subtly finds out what hobbies and interests his prospects and clients have. Then out of the blue, periodically, he’ll send a book or an article clipped from a magazine or some small value gadget related to that hobby with a note “saw this new fishing book and thought of you.” His approach both works both to acquire new customers and to keep existing ones happy and if the subject of legal advice ever comes between his clients and their friends up he is top of their list.  # Slightly less obvious is the unstated bonus material a local lawyer uses in his practice. As a talkative, friendly chat he quickly and subtly finds out what hobbies and interests his prospects and clients have. Then out of the blue, periodically, he’ll send a book or an article clipped from a magazine or some small value gadget related to that hobby with a note “saw this new fishing book and thought of you.” His approach both works both to acquire new customers and to keep existing ones happy and if the subject of legal advice ever comes between his clients and their friends up he is top of their list. 
  

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