To deliver value in this connection economy, you need to be both a source of online information. And you have to have an online offline service proposition. And this is what we did. So this is our content layer as it’s described, and also our free paid for service proposition.
All very cohesive and all very sort of understandable in the context of why you’re there. And what it is you’d hope to get out of you being there in the way that you are. But what we’ve done when you unravel, all of that is understand that we’ve re focused value on peace of mind and reversal of risk. Because we know this is what is at the heart of the reason for people having a relationship with us, this is what they want to get out of us. And because we’ve understood that, that’s how we reflect high value. And so now first price and value and that in a kind of almost scientifically crafted business proposition where ultimately we offer the customer confidence of outcome certainty of costs and unbeatable guarantee.
So, for us reinventing value, and price, kind of built on this thing that I learned really way back in 1996, that in an immigration services market, there are two types of customers, there are those that want to pay, and those that don’t want to pay. And the connection economy, they each have equal value. Because prior to the connection economy when I first wrote the Hong Kong visa handbook in 1996, and put it on the internet back then, but prior to 1996, people would come into our conference room, and they want to have their free consultation. And that was a marketing ploy. So they would come in, and they’d have the free consultation, and then probably half of the time, you’d never see them again.
So essentially, it lost the prospect clients also lost an hour of your time. And quite often there was two or three people in that room. So it was a significant loss. So they those kinds of people were a liability to the business. But we moved into the connection economy. And by sharing, I know how in the public domain that in the way that we have, essentially, people can make their own decisions about what they want to do, as regards their immigration situation. And if we empower them to do it themselves, then we win a fan, we win an advocate, and they go off and they tell all their friends. And essentially, there is more value in real terms in those people who don’t want to pay compared to the people who do want to pay. And in many ways the people who do want to pay, they are just a way of keeping score, just lets us know how well our business model is doing. So the whole facet of sort of value in our business has really changed completely.
Now that we’ve got the connection economy and everything that it enables us to do. So I would invite you to ask any questions you’d like to ask. And if I don’t see you before, I shall see you next week, when we have our final show, if you will. Where are we talking about if you’ve got permission to to do the things that you are doing with the people that you have relationships with and so on and the business prospects that you might have. And then afterwards, we’ll have a small party and everybody who attends next week gets one hour of free time at video cha cha, I assume they are so thanks for that and I’ll invite your questions.
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