The lesson that I learnt in Episode 9 of “The Apprentice (Season 5)” is …

For Maximum Profits, capture and promote your services/products to a Hot Market!

In this episode, each team was to spend the day taking photographs on Ellis Island to help them create a souvenir tourist program sponsored by Ameriquest – all proceeds would benefit the Statue of Liberty/Ellis Island Foundation. The team to make the most money would win the task.

Below is what I found to be relevant lesson to our online business.  Avoid the mistakes and model after the effective methods.

1. “Gold Rush” did the following right this round:

After three straight losses, “Gold Rush” were more aggressively in this round. They understood that this task was about promotion and market capture.

First of all, they splitted up the team who focus on individual tasks.  This was a good move as the resources and time are better utilized.

Lesson at this point: If you are on a tight timeline, consider the possibilities of outsourcing some of the work out.  BUT always be in control and set the schedule.

Second part, they went to the queue to the island first thing in the morning and started selling to a captive audience who were waiting to board the ship to tour the island.  This was a great location!

Lesson at this point: Seek out a hot market and sell your product/services.  They are various strategies which can help you in this.  A book which I strongly you read up is the Butterfly Marketing Manuscript by Mike.  The techniques shared works!

They made another important right decision by making cold calls to many parties to sell their product in bulk.   Even though the conversion rate was low, if I recall it was less than 1% (1 out of 100+ calls), that 1 purchase increase their sales by a low.

Lesson at this point: Offer a discount by selling in bulk in order to drive up your sales.

1. “Synergy” did the following wrong this round:

They went as a whole group to the site for visit.  In my opinion, they have wasted valuable time on the trip instead of planning on the marketing effort.

They have also entered the market late (by leaving the office late).  By doing so, they allowed the other team to capture the captive audience.  However, this was not the main reason they failed in my view.  They failed BECAUSE they relocated to the island to sell their product.  By doing so, they are selling to a market which has already being sold to.  A big mistake.

Lesson at this point: If you need to sell a similar product to the same audiences, give your product a twist or a new bonuses.  Make it different.  Failure to do so will definitely impact your conversion rate.

In the end “Gold Rush” finally won one round after 3 continuous defeats.

The results after this episode was “Gold Rush” - 3 and “Synergy” - 6

Above are the main lesson that I noted in this episode that is relevant to Marketers and Infopreneurs. Tuned in next week for my review of the next episode.  You can check out the pictures from this official site.

Related postings:

• An Manuscript That Increases My Conversion Rate by selling to a Hot Market
• My Compilation “The Apprentice” Lessons
• Lesson 1 - Creating Successful Buzz
• Lesson 2 - Location, Location, Location
• Lesson 3 - Have A Theme And A Plan B
• Lesson 4 - Keep It Simple, Silly!
• Lesson 5 - Listen To Your Team And Your Customer
• Lesson 6 - Command Respect
• Lesson 7 - Be Decisive!
• Lesson 8 - Pricing

To Your Success,
Keith Choy

Tag: the apprentice, market capture