The second-most powerful word in direct marketing: The magic of a dollar

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in Business Management

It’s common knowledge that “free” is the most powerful word — and the most irresistible offer — in direct marketing.    

But can you guess the second-most powerful word or phrase — and the second most irresistible offer?    

It’s “one dollar.”

Experienced direct marketers know that, at times, charging a dollar (or a penny) for something can be more effective and pull even better than the free offer. The old pros call this technique “the magic of a dollar.”    

Here is a great example of the magic of a dollar at work. It involves a company selling an accounting software package.    

It was a good program, and the USP (unique selling proposition) was that the software was “modifiable”: It was build on a popular database, so a user proficient in the database could modify program features, functions, and screens to fit his specific business. But direct mail packages selling the software barely broke even.    

The software was pri...(register to read more)

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