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Use "Insider Trading" to Stock Up on New Customers

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For marketers, insider trading isn’t about stock tips.  It’s about building relationships with people inside non-competitive businesses who can help you start “trading” with the employees of that business.

For example, last year a friend of mine opened a women’s clothing boutique.  She did everything right with ads, publicity, and a Grand Opening, but business was slow. One day, I noticed the steady stream of people coming and going from the office building across the street and spotted an ideal opportunity for insider trading!

Turns out, three major businesses were located in the building.  A few phone calls later, my friend got the names of the receptionists for those businesses and invited them to her boutique for a cupcake.  Relationships were forged and my friend had her “insiders.”

Shortly after, employees at each of the three companies saw something unusual on the receptionists’ desks: a tray of tulle-wrapped bundles of M&Ms with the name of the boutique printed on them.  Next to the tray was a stack of double-sided cards.  Side 1 featured a coupon, side 2 highlighted the boutique’s extra services – assistance for men seeking a perfect gift for a special woman, and a “closet shopping” service to help women turn what they already own into trendy “new” outfits.

Insider trading paid off handsomely!  There was an immediate surge in sales and despite today’s grim economy and lousy retail climate, the boutique is growing.

You don’t have to be a retailer: If you’re a CPA, your insider might be a banker or attorney who can refer clients to you.  If you’re a consultant, look for a vendor or another non-competitive consultant who can take you inside a target company or industry. Keep your eyes open! Whether it’s the building across the street or the person sitting across from you, get ready to take stock of valuable insiders!

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