I was watching an interesting video of John Moore from Brand Autopsy. Here’s something I learnt through him that we can learn from drug dealers.
Even drug dealers have a business – an illegitimate one but none the less, a business. Even they acquire new clients and try and sell more to existing clients.
Drug dealers make money through large profit margins – fewest transactions for the highest amount of $$.
Marketers should aim to achieve the same (by selling legitimate products or services) and “find a sweet spot” where we can sell for maximum price with minimum transactions. It’s better than low price and high volume transactions. You could even be making a loss at low priced transactions. Of course, other factors such as competition, value, price elasticity etc… are to be considered.