June 4, 2011
There’s a lot of talk about Amazon’s recent sale of Lady Gaga’s latest album for just 99 cents. It’s alleged that Amazon lost 3 million dollars on the deal.
Chris Brogan had a post yesterday about why he would offer 10 cent wings on a wing night, if he owned a restaurant. I’m seriously craving chicken wings now, thanks Chris!
These are both great examples of acquiring new business.
If your parents never used Amazon to purchase music (or anything else for that matter), they will now have accounts to do so. Perhaps they even opted in for Amazon special offer emails as they checked out from their Gaga purchase.
If you had never been to the restaurant to try the wings before, and you enjoyed them at such a discounted price, you’ll likely return for more (discounted or not). Heck, that’s how I still return to the Wheat Sheaf every time I’m back in Toronto – not to mention their wings are AWESOME!
While you may lose money in a big promotion, you need to factor in the value of the new customers you have acquired. Was it worth it?
Photo from Flickr by: framboise