May 23

Selling yourself short? The business owners paradox

Posted by writer

Pricing your products or services well is important for business sustainability. What happens when you lower your standards or sell yourself short just to get to your markets? Well, you get to your markets alright, but you don’t leave a lasting impact on them.

Take the example of a nightclub owner about to launch his first club in town. Nobody knows about it yet, and so he fears there wont be enough attention. The better the launch, the more successful the club will be in that part of town. To create a good launch, he may have to come up with…

May 7

Creating scarcity in tickets and merchandising

Posted by writer

I am sure you have heard about how marketers often play with certain emotional triggers to entice people to act quickly. You can use the same principles of scarcity when selling tickets and merchandising to your audiences. Creating scarcity implies restricting the supply of the things that you are selling to create a perception of shortage. This becomes even more effective if it is bundled up with a promotional offer, such as a discount or bonuses.

Some people are indecisive or slow about making their decisions and often end up being too late. Scarcity puts them in a spot where they…