A week ago, I mentioned about an internet marketing workshop that I would be attending. The marketing system used by this company, storesonline, was very, very effective. First, back to some basics.
No matter what industry you are in, any business is ultimately about marketing. And marketing involves getting the right message to the right person (through the right media) to invoke a desired response.
A marketing system is then a series of messages to move and advance your client towards your endpoint. It is all about positioning and building the correct kind of relationship with your clients.
I will now talk about my experiences with storesonline from my perspective so that you can understand their strategy better.
About a month or so ago, I saw an advertisement of a ‘free’ 1.5 hours internet marketing conference. This advertisement was repeated a few times on my local newspaper. There were many dates/sessions available and you could sign up by phone or on the internet.
There would also be free lunch/dinner provided (depending on the time of the conference). On top of them, all participants would also get a free business organiser.
With such an offer, you can be sure that the response rate would be very high. No wonder they had so many sessions catered for.
At the conference itself, a speaker taught that in order to make money on the internet, we needed to have:
1) The right knowledge
2) The correct tools
3) Take action
A bit of content was provided but we were told that if we wanted to find out more, we could attend their one day workshop.
The workshop was priced at an amazing $100 and you could even bring a guest along. The relevant handouts and lunch would also be provided.
At an effective cost of $50/person, what then was the catch? The company was completely upfront about this and mentioned that they would be promoting their software (costing a few thousand dollars) at the workshop.
However, there would be completely no obligation to use their software and we would still be able to benefit from their workshop. With this soft selling approach, many people signed up for the workshop. And everyone got their free lunch and business organiser as promised.
In the midst of this process, storesonline was certainly enhancing their relationship with us in a positive way.
It was also clear to me that the fees collected for the workshop would probably cover the costs of the conference and workshop. Anything else sold during the workshop would be pure profits.
80% of the workshop ended up to be a subtle sales pitch (beautifully engineered) for their software and tools. There was also a ‘workshop only’ special to entice people to sign up on the spot. Quite a handful of people did so.
For a product with an upfront cost of more then five thousand dollars and yearly recurring costs, I must say that the marketing strategy employed worked excellently.
Free gift to generate prospects -> Low priced item to convert them to clients -> High end item sold to clients
Do you have a similar marketing strategy in place?
The story might have ended here had I not done more research on storesonline. I will do a review of the workshop and share some of my findings in my next post.