Week 31.1 Why Advertisement (word of mouth) don’t work?
Normally resellers will not disclosure their source and their customer to others. These are vital information which generates profit. Thus, when someone buys from me some of them does not want to leave an electronic trace behind. Thus, they will not buy from ebay lor or other online forum which can be traced by others. Instead they just sms or call me directly for quote. Some buy but ask me not to give any feedback.
Since I am cheaper than some of them, they will not include me in their blog, website etc. Thus, their customer will not know me lor. Only after some time they will know me lah with some searching at ebay and lowyat forum. The same is applicable to me as well. Just one day some big competitor will come into the market, then GoldChan will be gone for good but I wish for a good fight before a withdrawal. Overtime, the battle will be based on economic of scale.
At the same time I don’t want to be accused of stealing customer. Thus, if they come directly to me then I will serve them. Otherwise, I prefer the seller to keep their own customer contact. Though he may pay more courier charges, it’s worthwhile to keep our friendship.
Thus, even though many people got blog, some didn’t apply for adsense. For peanuts amount of money, suddenly all your competitor pop up in your very website. Thus, in long run a personal website is the way to go.
Can’t you see the main problem here people want a share in the piece of cake. Well, I can source you silver but never disclosure my source. It’s a complex ecosystem. Mostly are friends and relatives. Profiting from people you know. It’s a trend. You have to live with it. Nevertheless, there are few customers did tell their friends on who they source their silver from.
For news that lead to action, Bad news spread like wild fire, good news take forever to reach everybody.
It is really economic of scale , an undeniable fact. But so far I have not seen a strong competitor in silver market yet, most big shops like central bankers still focuses on gold gold gold. Public gold so far personally not very good yet, the silver bar they minted not so popular and liquid. I dont want to buy that even if it is cheap.
ReplyDeleteanyway today see an ad by LAZO DIAMOND, buyback gold at 100% price ... wonder what they mean, 100% by market price ?? I still have some doubts, didnt ask them too much abt it.
some shops still selling eagle at 230/oz even when silver plunged to 32/oz ... and they still manage to finish selling it. This just show how under informed some of the public is.
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