Last week Radio Shack — remember them? — closed 1000 stores. It’s all over.
Their business model had been unenviable ever since their line of computers was outcompeted decades ago. They sold five-dollar parts for various electronic products. They have not survived Amazon.
But it isn’t just Amazon that took them down. It’s the fact that they amassed a huge database of customer information and had no idea how to use it.
One observer put it this way:
“When I went into the store, whenever I bought something, I had to supply all of my personal data. I had to give my telephone number. I had to give my address. It was ridiculous.
“Not once did I ever receive a mailing from Radio Shack, yet they forced me to provide all this information in order to buy a five-dollar item. They had no clue as to how to use this immense database that they were assembling. I knew from that point on that the company would not survive.
“To fail to understand the most important single asset the company has is a mark of imbecilic management.”
If you don’t want to share Radio Shack’s fate, get this stuff right the first time.
Two good ways to do so:
(1) Use my 20% off coupon — 20VIP — to join Kevin Fahey’s IM VIP Training program. The guy is honest, thorough, and very generous with his time. That coupon is about to expire, as you’ll see when you click.
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(2) Study my video series on conversion — that is, how to get customers to do what you want (buy, join an email list, whatever).
It’s a free bonus when you join Kevin’s program. Just forward me your receipt.
You want to prosper online.
You just saw a chain go down because it had no idea what it was doing.
But you will.
If Kevin’s resources and help don’t get you up and running online, then I’m stumped.
Coupon — 20VIP — expires tomorrow:
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