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111 Key Principles for Success

Principle 98 - The Velvet Rope

You've seen the velvet rope and the line it attracts. This is a persuasion tactic that uses the principle of scarcity.

In 1943 there was a copper shortage in the US. There were only 8 pennies produced. Value now, $1 million.

What is scarce has value. It made me think, "Should I sell limited 1,000 copies of this book for $100 each?"

I'm not sure it would work but will I get more purchases than if I charged $0.99. If I upped the price to $1,000 I could get publicity from the news. If I sell 1,000, that $1 million. So does scarcity work? Yes. What if you could buy the book after some approval process? Probably more demand.

So the velvet rope says that you can't get in which is a scarce resource. Once the line forms it creates a double persuasive effect due to the Social Proof effect. Add a time dimension and more scarcity, triple whammy.

So make your product or idea scarce and people want it. To get access to a secret chapter from this book, click the link.

Think about how you can use this principle to attract more followers, customers, sales by making your product or service scarce.

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