Sam told me a story the other day about one of his students that lives right on the waterfront.
To catch crab and prawns they go to their dock each day, find some mussels that have attached themselves to the rocks and dock.
They don’t eat the mussels…they crush them up, put them into a sock and then put that into their crab or prawn trap.
The crabs and prawns love it. And each time they do it they pull in a bounty of seafood.
That story made me think of a similar situation in marketing that is just as effective.
I’ve come to call it the Value Bait (Jay Abraham may have coined that term?).
The Value Bait is when you offer your clients or prospective clients something of huge value.
Maybe it’s a $500 1 on 1 consultation for only $99.
Let’s say that consultation costs you $250 in lost time (time you could spend with another client). You’d be crazy to offer that deal then, wouldn’t you?
You offer this great value because you know that 75% of the time you do these consultations the client requests an additional service from you that is highly profitable for your business.
The Value Bait is your way of getting attention.
Generating leads. Opening clients’ minds to trying a new product or service that you offer.
Think about the landscaping company that offers to come and fertilize your lawn for $25. There’s no money to be made for them at that price.
However, they’re no fool. They have a list of additional services that they can perform for you to keep your lawn looking beautiful year round.
And now that they’ve got your attention and you’ve given their service a try, you’ve become more comfortable with them…and as a result are much more likely to purchase additional services from them.
My friend, what’s your bait?