It’s a great day here in Los Angeles!  I’m headed back to Michigan for the week…..
 

Upcoming Events:
Nov 17    Los Angeles, CA             Tag Team Tactics
Nov 21    Conference Call - FREE    “Strategies To Retain Your Customers - Forever!”
Nov 28    Conf Call - Replay

Dec 1-2    Clearwater Beach, FL       “47 Marketing Secrets” workshop
It’s the day before the BIG GAME!  Michigan vs. Ohio State, and anyone who knows me knows my blood runs “maize and blue”!
It was also a sad day with the passing of one of football’s greatest coaches - “Bo” Schembechler.  I grew up watching “General Bo” and his teams destroy the opposition, but always doing it with class….  He not only created great football players - he created great people, and taught them the true lessons of life.
 

Law of Scarcity
One of the greatest tools in marketing, is the use of the Law of Scarcity.  When there is a fixed quantity available (number of seats, tickets, dollars, days, units, discounts, bonuses, etc.) - people are forced to react with URGENCY.
Take today’s release of the Sony Playstation 3 - brilliant marketing GONE TOO FAR.  With a limited number of units, and a clever marketing timetable - they created panic among the masses.
With people fighting over access to the store, police running “lotteries” for places in line, and even someone being shot (in CT) - this is an example of how the Law can be abused.
 

What’s YOUR Scarcity?
Can you create a sense of urgency in your marketplace?  Limited access to a conference call; only $1.2 million in this particular loan program available; offers only accepted for 7 days; only 38 people allowed access; 10% discount only for the next 72 hours…..
You get the idea - use Scarcity to get your market to act quickly.  This works well with customer retention strategies, initial prospects, and special events.  There are a couple of rules:
1.   Be sure to FOLLOW THROUGH on your promise!  A limit is a limit.  By holding your ground, they will respond accordingly NEXT time.
2.   Set clear guidelines and expectations.  Be sure to TELL the prospect EXACTLY what to do!

This simple rule of marketing, used correctly can open a lot of doors.  Just don’t abuse it - Sony will have a lot of PR work to do in the morning!
Have a great week!