March 24, 2024
Page,
Arizona
“Thank you for applying…unfortunately your application wasn’t selected…””
(Can’t read the full email – click here for the online version.)
Wouldn’t love
this for a business model? Charge people a non-refundable amount just to apply for the remote chance you will be accepted and then pay again once and if, you are.
Such is the case with the National Parks permitting system to gain access to hike certain areas inside a few choice Parks.
Near Page, Arizona (a popular spot to access Lake Powell)
there is a very cool hike to an area called The Wave. But it is very limited. They only allow a total of 64 people in per day; 48 of whom can obtain a permit up to 4 months in advance via a lottery system; the remaining 16 on a daily basis, 2 days in advance.
They say the odds are 4-6% of getting one.
And you must pay a non-refundable
fee of $9 each time you apply. Then, $6 per person, if you get accepted. Oh, and one more thing. You must use their mobile app, and your phone must be within a small geographic area near this town or the neighboring town of Kanab, in Utah. Otherwise, your application will be rejected outright.
I mean - $9 per attempt – not a huge amount. But after a few attempts coming up empty-handed – not so
fun.
This got me thinking, however, on how this might apply to you and your business.
I recall back when I ran my tour operation, we created hundreds of tour itinerary proposals for prospects, before searching was a real thing for individuals. Most of these proposals did not amount to a sale.
I felt like we had
inadvertently entered the proposal business instead of the tourism business. So much work for zero pay. It would have been smarter if we had created a dominant marketing position, so that we could have charged a fee for crafting these itineraries. Non-refundable if they did not buy but if they did, we’d deduct their “deposit” from the bill if they did purchase.
The key concept here is two-fold.
- Build a market dominating position or unique selling position for your products or services. This allows you to obtain both premium pricing and demand.
- Create scarcity in your offerings. So much so that you can charge deposits or application fees, non-refundable or not, so that your time is paid for, and you
eliminate poor candidates for your offerings.
Until next week,
Stay healthy and focus on profit!
- Hugh
The “Profit Accelerator” Expert
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