True story:
Two entrepreneurs started two similar businesses, selling cubic zirconia (aka synthetic diamonds) by mail.
The first guy ran a well-written ad in the LA Times and sold a bunch of one-karat fake diamonds.
After all expenses were covered, he made a profit of around $3,000.
Disgusted with this small payout, guy number one folded shop and moved on to a new opportunity.
Guy two also ran an ad in the LA Times.
His ad was not as well written, and though it pulled some sales, the end result was about a $10,000 loss once all the expenses were counted.
However, guy two did not exit the market.
Instead, he mailed out his fake diamonds in a fancy wooden box with a letter that said (I’m paraphrasing),
“Look at your beautiful one-karat diamond in its beautiful box. Doesn’t it have a fiery brilliance? Oh and by the way, in case it’s smaller than you expected, we do also offer five- and ten-karat stones. And if you like, just return this beautiful but tiny diamond and we will credit its value to your purchase of a bigger rock.”
Guy two rode this fancy-wooden-box-plus-upsell-letter approach to a $25 million business — in the first year alone.
I heard this story in a talk given by Jay Abraham. And I was reminded of it today, when I read an article written by marketer Sean D’Souza.
I think Sean’s article is valuable reading for anybody who’s interested in building a successful and lasting building online — rather than just looking for a one-time opportunity with a quick payout. It might also be valuable reading for copywriters who put a lot of stock in swipe files.
In case either of these sounds like you, then here’s the link to read the full story: