Crypto Crevasse
Investment boiler-room scammers appear to have a new guise.
I sadly hear tales of similar such thievery driven by the current crypto craziness.
Investing ‘experts’ keen to call you ASAP from an online enquiry. Promising arms length yet safe involvement. Super-returns guaranteed to come your way. Even if the contract wouldn’t say that. Well, why would it? And take your cash out anytime! Good luck with that…
With the fervour for crypto among the retail investor – especially ones never before having directly bought stocks and shares – they are less focused on the initial sale. The apparent clamour at present means they almost expect any inbound lead to ‘buy’.
No. Their real aim – and where bosses remorselessly push – is for the subsequent sale. In the trade, this tactic has a name.
Reload.
A bit like an upsell. Where you take an order for more of the same again, a little later.
The more reloads, the more commission. Who cares if the commodity price drops (or plummets). The sellers still make money off you.
It also keeps you in their eco-system. Less likely to switch to alternative ‘broker’.
In true win-win, mutually beneficial solution selling, the reload also has a role.
When clients are happy with your supply, there’s many a bonus to taking just that touch more from you.
Extra product (or service) means not having to go through the corporate rigmarole of new vendor authorisation, budgetary requests or the often not inconsiderable switching costs.
Many a reload is a false one though. Akin to clearing out or liquidating stock at too-high a discount, just to make some bean counter feel better. The end-of-year promo hits even professional service firms.
A true reload ties your customer in with you for longer in a way that they feel is good for them.
It could just be the pattern of repeat, more regular purchasing that helps keep the till ticking over.
It could be a way of suggesting a streamlining of their current procurement relationship with you. Such as call-offs or agreed run-rate business at (slightly but attractive) preferential terms.
Either way, the reload does have its valued place. When done with honour…