Revolutions start at the edges of society. Where frustration and necessity drive a relentless search for new ways of doing and being; to tilt the world in their favour.
And they are missed by the mainstream – until they have won the day.
In 1926, at the fringes of the business universe, in the opaque spaces of direct marketing – a business revolution started.
With the immortal headline “Three books for $1” the Book of the Month Club was born.
Within a year, it had 40,000 regular buyers.
Other canny direct marketers worked out their secret: the Lifetime Value model.
The Club could invest in attracting new customers precisely because it was confident that they would buy again. And again, and again.
Sales that would deliver more than enough profit to offset the initial investment.
A model adopted by pioneering retailers a decade later as loss leaders, several lifetimes before software-as-a-service and other subscription business models emerged.
But phenomenal effort went into building value for the Club's customers.
Regular promotions about the wonderful books they could buy. Exemplary customer service, money-back guarantees, and payment plans. All to keep their customers enthralled and at ease.
And its relevance to service businesses today?
The more you delight your clients and create value-add services, the more you can afford to invest in attracting new clients.
And that can become a gamechanger.
Stuck in a rut?
Sing out and we can chat about how to move your business forwards.