I got hit by the flu last week and spent time catching up on several movies.
One of the best I watched is The Big Short.
It’s the for-real, true life story of four investors who predicted the 2008 housing crisis; made a ton of money while being called nuts by everyone.
My favorite scene in the movie takes place in a Goldman Sachs conference room.
In that conference room, Dr. Burry, a shy, medical doctor was negotiating with a team of Goldman Sachs bankers, on ways to buy insurance policy that would pay out if real estate prices began falling, which had never happened before.
The Goldman bankers did not understand Dr. Burry’s desire to buy such insurance. They even said:
“This is wall-street Dr. burry, if you offer us free money, we’re going to take it.”
The negotiations end with Dr. Burry convincing Goldman Sachs to sell him $200 million worth of such insurance.
After Dr. Burry walks out of the conference room, the bankers start celebrating the deal that seemed like ‘free money’ to them.
Dr. Burry ended up making over half a billion dollars from that deal.
It’s a great scene because it shows the exact moment when the greatest deal of the century was made by a dumb-looking doctor against the smartest folks on Wall Street.
Now, here’s how this applies to your e-commerce business.
Like Dr. Burry, your customers love it when they feel like they are getting a great deal, when they are feeling like they are winning.
One way to do this, is to offer a rewards program to your customers.
Some of you may think that rewards are common and no one cares about them.
But if you offer rewards to customers in a super easy way.
If you don’t make them jump through hoops.
If you add their reward to their shopping cart.
Then your customers feel like they are winning.
That’s when their shopping experience goes up a notch.
That’s when they return to buy again from you.
RewardCamp allows you to do all this. And it’s the only loyalty app that does it in a customer-friendly way.
Check it out at www.rewardcamp.com