Years ago someone told me about an unusual marketing idea used by a high-end guitar selling business. It stuck in my mind, and I’ve wanted to use it, or at least the principle of it, for our business or a client’s business ever since.
The guitar business sold guitar picks at a loss – for less than cost price on eBay or Amazon (I can’t remember which). As a result, they gained a list of email and physical addresses of people who would probably be in the market for a new guitar some time in the future. Next, they continued to provide the guitar pick buyers with valuable information and offers via the post and email. Who do you think the first business these guitar players thought of was when they wanted to buy their next guitar?
This idea could also work if you sell online guitar lessons or equipment that people who play guitars buy such as amplifiers.
I can think of many ways to use this marketing idea to sell different products and services. See some examples below.
If you sell online ‘how to make jewellery’ courses, books or jewellery making equipment you could sell, at a slight loss, on market places such as eBay, the lower cost items and consumables that jewellery makers use such as jump rings and earring hooks. Then regularly send them jewellery making tips, ideas and special offers, via email or post. When they want to purchase more supplies or training materials – they are very likely to think of you.
If you sell online or offline garden design courses, you could sell ‘at a slight loss’ a garden design book on eBay at Amazon. It just needs to be sold for slightly less than the price that other sellers have it listed. Then, for example, continue to provide tips, advice and garden design case studies via a monthly email or letter in the post. The people who want to take their learning further will think of your business first when they’re ready.
This can be a cost-effective form of marketing when used strategically. I can’t wait to use it for our business.
Let us know in the comments below if you’ve used or plan to use a variation of this idea in your marketing. 🙂