OFFline Retailers regularly use a selling strategy called a "loss leader" to get many people
into their stores.
When your local Supermarket discounts that export-quality jar of coffee to more than half its normal price, its not because they have got a shipment of the stuff at a greatly reduced price.
They actually generate a loss selling it to you at that price. In retail this technique is called "working the margins" (meaning profit margins.)
So, why?
The purpose of a "loss-leader" is INCENTIVE.
AND... the purpose of this INCENTIVE is to get you into their store, so youll buy more than just that discounted jar of export-quality coffee.
Now, ask yourself this question. "How often have you gone into a store (in response to a loss-leader advertisement) and ONLY bought that advertised loss-leader?"
Loss-leaders positive need
two elements to work.
1. Something used every day
2. Exceptional value for money
HR ALIGN="center" WIDTH="100%"
Working the loss-leader strategy on the Net.
The loss-leader selling tactic translates extremely well on the net... but here youve got to work it with a twist.
As you do not
have a physical store for everybody to stroll
around - and thus buy other products - you have to do it WITHIN the quality of the loss leader itself.
Sitesells flagship item Make Your SITE SELL is an excellent example of the net-make use of
of a loss leader.
Without a doubt "Make Your Site Sell 2002" (at 1,540 pages, $25.02 USD) has to be the definitive work on the net about constructing a site that sells. Straight up, theres just exception assessment of value in Dr Ken Evoys book.
You might
even get a free of cost trail of MYSS 2002 @
http://hyperTracker.com/go/WEBpro1/MYSSfreetrial/
HR ALIGN="center" WIDTH="100%"
Now... What happens here?
Well. remember the 2 elements needed for a loss-leader.
1. Something used every day. Now, what is it that anybody working seriously on the net would assessment of value, and use? How about a book about "Making Your Site Sell?"
2. Exceptional worth for money. People have got divorced over MYSS 2002, its such a effective read.
What Ken Evoy does here with MYSS 2002 is lead you into the SITESELL "store" with his digital loss-leader, MYSS 2002.
Once inside the Sitesell "store" youll never want to come out, because its arrayed with all these wonderful and proven products & tools for selling on the net.
The creation of the target
to enter the MYSS "store" originates from WITHIN the assessment of worth
of the content in MYSS 2002. This is a digital loss-leader in action.
HR ALIGN="center" WIDTH="100%"
So, how might
you utilize a loss-leader in your own web business?
Think of the two necessary principals.
1. Something used every day. Give away - or sell at a greatly reduced price - something of exceptional assessment of value that pre-qualifies your target customer.
This might be an ebook, software, a gift voucher etc. The nature of your loss-leader will be determined by the nature and purpose of your web page
.
2. Exceptional assessment of worth
for funds
. It must be clear to the recipient that the item is of exceptional worth. This is either clear at the point of the "transaction." or it becomes clear after a human
has read or used your loss- leader.
AND then ...
This item - your loss-leader - leads into another transaction. This might
be a sale in your product range, or some other pre-determined action.
The offline retailers loss-leader selling tactic might
work exceptionally well on the net.
Try it.
Kenneth Doyle - e*Analyst http://www.feedyourhungrymind.com
HR ALIGN="center" WIDTH="100%" "If you havent worked this out, you soon will. Theres a lot of NONsense zapping around in cyber-space.
Find out what works, what doesnt... and whats value your funds
." Subscribe to the e*Analyst ezine - mailto:editor@webpro.par32.com?subject=subscribe HR ALIGN="center" WIDTH="100
