032 The Invisible Touch – How To Attract The Wrong Clients
The First Key: Price
Discount Buyers – do you want them?
Heck, look at the parking lots for Walmart, Cosco, Sam's Club. OF COURSE you want them….
… or DO you!?
Discount Buyers Shop For The Lowest Price
I learned a long time ago: someone will always have a lower price than you do (it's just like in college that someone always had a larger stereo than I had!). And no one wins when cutting prices lower and lower.
OK… what about Walmart?
Walmart is in such a position that it can demand lower prices from its suppliers. I feel sorry for many of the companies selling through Walmart because their own return is so low.
But a place like Walmart (or even QVC on television) has learned the great lesson of marketing: getting the buyers THERE is worth a great deal. The person with the customers is in the driver's seat even compared to those with the products.
Where's The Loyalty?
If a buyer is primarily a discount buyer, their loyalty is to the lowest price NOT to YOU.
When the price is lower somewhere else, they will leave you and to there.
But the buyer who respects your service, what you do for them, knows, likes, and trust YOU… THAT buyer will be with you for a long time.
So… stay away from Discount Buyers, always have a really high priced "something" in your product line, and give terrific service.
Best,
Charlie Seymour Jr
Blogging, Podcasting, Consulting
The Invisible Touch – A Marketing Blog Series By Charles Seymour Jr
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Charlie Seymour Jr is an entrepreneurial evangelist and marketing-success coach helping individuals and companies (up to $100MM) explode their success through online and direct-response marketing. He specializes in blogging, podcasting, photography, video, and Facebook applications. Visit his blog at http://bit.ly/24eYTO to learn more about his successes.
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Fallacies of Marketing
032 The Invisible Touch – How To Attract The Wrong Clients
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