In Melbourne there’s a sporting club called the MCC. The Melbourne Cricket Club. Being a member gives you the rights to attend any sporting event at the MCG stadium (which seats 100,000 people).
Granted they are great seats to watch the football from. It also has a couple of restaurants and old school establishments within its confines. The membership costs about $500 per year…it’s nice enough.
There’s a 20 year waiting list to become a member of the MCC!
You need someone to die before they admit another member. People talk about how long they’ve got to go before they’re likely to become a reserve member.
It’s a rare business where making customers wait is part of the allure. Sure there’s a lot of history as the club is over 100 years old. I wonder how a start up with a premium / unique product could make ‘waiting’ a selling point?
Isn’t ‘waiting’ a selling point for Zingara Cucina (http://startupblog.wordpress.com/2007/09/05/zingara-cucina/)?
Also, bespoke manufacturers/artisans might make rarity, waiting lists a selling point also – “Where did you get that funky handbag/watch/bike/boat?” “Oh, from ####, darling. But I just beat the rush. I hear it’s taking 18 months to get one now…”
I cancelled my MCG membership a few years ago. My dad signed me up when I was born. When I was 25 I decided to give it away … too expensive for a non sports fan like myself. When people heard that I’d given it up, they thought it was disgraceful.
You’re right, the exclusivity of this membership, and the patience needed to get one adds to its appeal
take a look on the post from “found and read” re using scarcity illusion as a strategic marketing tool
http://foundread.com/2007/09/14/strategic-tool-how-to-use-the-scarcity-illusion-to-boost-your-launch/