In South Korea, you know you’ve made it when you’re invited to apply for the elitist credit card known as “The Black”. Issued by the Hyundai Company and given a Liquimetal Coating, a substance used in creating armour piercing bullets. It’s heavy and very rare – only 2,000 have ever been issued and the most that ever will is 9,999. It charges a hefty membership fee and is only issued to the high net worth who also have a high social standing.
I want one.
Doesn’t this, once again, prove the concept of scarcity. Make your product or service scarce and you’ll drive up demand.
Here’s some new ideas:
- Put an end date to the latest offer you have
- Put a maximum number available. I’ve been using eBay’s feature of “only 2 left” to drive up sales of my products. Hurry whilst stocks last.
- When providing coaching to your team, firstly get very good at it, and then limit them to two hours weekly – no more.
- Don’t be too willing to agree their time for the meeting. Offer your options first and turn down their first request even though you can fit them in.
- Put on your business card, appointments only by referral. Bernie Madoff did and he had an awesome referral engine even though his empire crumbled.
- In fact, only accept new clients if they’ve been referred.
- Negotiate at every opportunity, don’t accept the first offer, and negotiate down or up.
- Occasionally say to your customers “this may not be right for you, it has been for others though, but we’ll sit down and see if it is.” Rather than, “you must sit down to see the benefits of the product”
- Play hard to get
And perhaps the last one – apply for The Black here http://www.hyundaicard.com/english