This entire episode of “Intellectual Property” will air Tuesday, November 15th at 7 pm on KVCR (Channel 24) in the Inland Empire of Southern California.
Economies grow when money is transacted for something of value. Most small business owners don’t think about the value of their brand, their logo, their customer list or even their unique products and services.
Q: What is intellectual property?
Mark Litvack said, “People often say intellectual property is the driving force of this country. Be it software, movies, games, or music. It is really your creative thought process. Something that you own because you have taken ideas and either put them to words, music, art. It’s not like real property or personal property. It’s not a chair; it’s not my house. I can share it with the world.”
Most small business owners don’t think about the value of their brand, their logo, their customer list or even their unique products and services.
Q: How do I teach respect for intellectual property?
Many online membership services or products are offered up in levels to the user. The user can access basic functionality for free and if they want to continue, they must buy. They call this strategy “try-buy.” Another “try-buy” method is to allow users to test your full offer for a few days or a few uses. After the free offer expires, the user can be given the chance to purchase. This builds trust with the customer in both your product and your company. There may be ways that you can meaningfully let people explore your products online in order to build trust before asking them to buy.
We’re old enough to remember this as the “Puppy Dog Close” in selling. If you own a pet shop and let the customer take the puppy dog home, there are huge odds that the customer will come back and buy that puppy.
Q: Why do we have to give something away in order to make a sale?