E. Joseph Cossman was a master seller. It was known that Joseph Cossman only sold products on one condition: that he received exclusive rights to sell it in a specific region.
One day, a man came to Joseph and told him he couldn’t sell his earrings and make a profit. He gave Joseph exclusive rights to sell them. The earrings were unqiue. The earrings had little bells attached to them. No earrings like those were available in the market. And so Joseph took on the rights.
But he soon found out that having a novel product does not necessary mean that people would buy it. He was having trouble selling the earrings too. The earrings were just not sellable through mail order. But Joseph Cossman didn’t give up. He put on his creative cap and starting thinking.
He renamed the product. He named it “mother-in-law earrings.” He weaved a story around the earrings. Of how they could be gifted to mother- in-laws and they would notify the person if his mother-in- law was nearby. As the earrings had bells, they would ring when the mother-in-laws walked!
Joseph Cossman then targeted newly wed grooms instead of women. And made a small fortune selling the earrings through mail order. He managed to convert a mail order loser into a big winner.
Action summary:
° Select a target audience. Joseph Cossman selected newly wed grooms even though predominantly, women bought the earrings. And made a killing.
° Give a killer name to your product. A good name can mean the difference between profit and loss.
° Weave a story. Story telling sells.
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