The Futur with Chris Do

250 - Have People Lining Up To Do Business With You — with Daniel Priestley

173 snips
Jul 19, 2023
Daniel Priestley, author of 'Oversubscribe' and business expert, shares his insights on creating high demand through limited supply. He explains how luxury brands like Rolex thrive on this principle and discusses the psychological triggers that drive buyer behavior. Priestley offers strategies for generating anticipation and exclusivity, emphasizing the importance of relationships and engagement. Additionally, he outlines the five phases of a successful marketing campaign and discusses the role of AI in shaping future entrepreneurship.
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INSIGHT

The Buying Trifecta

  • People buy when three elements align: logic, emotion, and urgency.
  • Rolex leverages logic (resale value), emotion (luxury status), and urgency (waiting lists).
ANECDOTE

The 7-11-4 Principle in Action

  • Chris Do and Daniel Priestley discuss the "7-11-4" principle from Priestley's book, Oversubscribed.
  • Repeated interactions across various locations create a sense of familiarity and trust.
INSIGHT

Supply and Demand: The Core Principle

  • Oversubscribed businesses have limited supply and excess demand, setting price and profit.
  • Rolex's profitability stems from constrained supply and high demand, unlike airlines with ample supply.
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