Can you really afford not to be effectively buying referrals?
Can your business,products and or services really afford not to be strategically buying referrals the correct way? Probably not.
As you previously discovered in part two of this explosive series about effectively buying referrals.
There are literally tons of local businesses and services owned by other cash starved struggling entrepreneurs that really could benefit from, (both) your marketing dollars help and your marketing knowledge as well.Correct? For sure.
How To Effectively Use Your Powerful New Understanding Of Buying Referrals For Pennies On The Dollar To Literally Explode Your Long Term Profits!
Case in point; because as you discovered in a previous post, how and why you need to know the lifetime value of a customer.
You can now start systematically approaching much larger companies (that have) much deeper pockets and negotiating powerful joint ventures (JV’s), (where) they in essence happily agree to finance 90-150% of your upfront cost to effectively buy referrals!Huh?
By the way, you did catch those figures correct? Why on earth would any company readily agree to finance 150% (or more) of your upfront cost to help you buy/fund your referral generating program? Say what? 😀
The exact same reason that if you’re totally serious about really growing your business or service and you’re currently spending .$89 cents per click (or more) for one of your not so effective PPC (Pay Per Click) ad campaigns.
You Really Can Build An Extremely Profitable Sales Funnel For Pennies On The Dollar!
Wouldn’t you rather help out another local offline struggling small business owner and or service provider, by (in essence) paying them say .$30 cents per mailing piece to include your best market tested postcard offer inside one of their outgoing orders to a paying customer?
And thereby effectively lower their cost to mail each piece by .$30 cents. Think about that one simple (and totally) effective marketing concept for just a second.
How in the world can the typical cash strapped small business owner and or service provider save .$30 cents per mailing piece without effectively lowering the overall quality of their offer(s?)
They simply have no clue how to go about it, do they? On the other hand, what if you strategically point out three major advantages to them by seriously considering your proposal.
This Is Just An Extremely Small Sample Of How the Ultimate Insiders Build A Profitable Marketing Funnel! (And “How” You Definitely Can Too!)
A.) As long as your initial offer to their buying customer list is not too expensive and their paying customers base is directly related to yours, but are non directly competitive.
Meaning- more than likely at some point in the not so distant future, their customers would be purchasing the exact same product or service anyway.
It makes perfect sense for the two of you to work together by pooling your limited resources and working out a mutually beneficial (JV) arrangement of some kind. Don’t you agree?
As long as they don’t exceed the mailing weight requirements, they could literally add at least two other non competitive offers.
And simply charge the other piggyback marketers anywhere from .$30-$1.00 dollar per piece to ride along and dramatically lower their own upfront costs of sale!
You Simply Have To Look Into The Many Untapped Particulars Of A Proven Direct Marketing Approach Such As This!
Plus, if they were to dramatically lower their upfront cost, by say 20-45% or more, they could do the exact same amount of gross front end business, yet earn a higher net profit. Hello! How often do you think that happens?
B.) You can also strategically point out that they would also have the option of letting you and the other piggy backers pay X amount per piece upfront, and you (and they) get to keep 100% of any generated front and long term back end profits!
C.) Or the more mutually beneficial arrangement for all concerned, is for you to supply your best market tested pre -printed index card insert, and simply offer them a sliding scale of 25-75% of any front end profits generated from the mailing.
And they can receive the higher end of the sliding pay scale anytime they personally introduce you to the VIP person of another non competing business.
This way you can explore the possibilities of putting this same type of potentially profitable arrangement together with you or one of your top joint venture partners.
So How Effective Is Your Current Marketing Funnel?
Hopefully, you can see and readily appreciate the incredible long term relationship leverage you would be tapping into with this type of subtle marketing approach.Right?
But let’s back track here for just a second, and clear up any nagging doubts, skepticism and or trepidation you may have about a statement you read earlier in this post.
You read where you might be able to (over time!), actually get a rather deep pocket larger company to actually finance as much as 150% or more of your upfront marketing cost without so much as batting an eye?
And your potential ‘scam meter’ alert probably went off, correct? 😀 You’re thinking how can this be, right?
Anytime You Can Effectively Lower Your Upfront Marketing Costs By A Whopping 75% Or More, To Reach Your Ideal Customers And Clients, Would You Do It? Yes Or No?
Of course you would! So try this simple train of thought, let’s suppose your run a small local Mom & Pop family style restaurant.
And you start systematically surveying the twenty percent of your valued customer base and ask them what other five businesses and or services (in the local) area do they rely on and frequent the most?
Take the their top three consensus choices (if there are any.)
And decide which of them have the deepest pockets, thereby having the largest traditional advertising/marketing budgets.
But try to first approach these other business owners by leveraging your current contacts and other JV partners etc.
And let’s say (strictly) for illustration purposes only,that one of the local furniture stores makes your top three list. With a little research you discover they typically pay anywhere from a low of $200 dollars to a high of $675 per new lead! Ouch!
You Can Definitely Help Other Non Directly Competing Vendors Lower Their Lead Generation Costs!
Of course it’s more than worth it to them because their ideal customers has a lifetime customer value of (at least) $7,500- $13,000 dollars over a seven year period!
By the way, you wanna enter those figures into a financial calculator? Enter a starting one time investment of $650 dollars and in seven short years it turns into a pre tax gross profit of $7,500 dollars!
Tell your friends that you’ve recently discovered such a potential investment opportunity and see how fast they head for the door or laugh you out of the room with uncontrollable skepticism!
The real point is this; if you were to point out to this successful and extremely cash conscious furniture store owner, how your approach (which in reality) for you is really nothing more than a semi advanced referral generating program.
It will only cost the furniture concern between $175-$200 dollars per lead or save them a whopping 43- 50% in upfront traditional advertising/marketing cost.
Do you think they’d want to at least hear more about the particulars? Would you? 😀
Successfully Buying Referrals For Literally Pennies On The Dollar Is Not Quite As Far Fetched As It Initially Sounds!
So, you point out how you’ll first offer a free drawing in your restaurant where all your paying customers can enter to win two free meals and they only pay the retail price for deserts, and the drinks are 50% off retail as well!
And the grand prize winner gets this special arrangement once per month for a whole year! That’s a $60 dollar a month value or a $720 dollar annual value! ($60 dollars per month x 12 months = a $720 dollar annual value.)
And ten second prize winners will win two free deserts with each, for X, with each meal for an entire year! Every time they bring someone over 18, that’s not a current customer with them to your restaurant.
($5.99 each x 2 = $11.98 dollar value per month x 12 months =$143.76 dollar value per year.)
And twenty third prize winners will win two free large beverages of any kind (meaning) soda, wines are 25% off, and deserts are 50% off every time they bring your special VIP coupon card and at least one other person over 18 that’s not currently a customer to your restaurant.
Practice Periodically Surprising Your Best Customers Because The Long Term Benefits Far Outweigh The Short Term Upfront Costs!
Plus, without telling them, you’re also going to create some really powerful free positive word of mouth buzz, by giving away ten $50 dollar gas cards per day to every customer at any level that takes advantage of your referral generating special by bringing a new potential first time customer over 18 with them!
Think about this for a moment, they already feel like their getting a good deal because they brought a new potential customer, (a referral) with them and their saving a few bucks.Right?
And on top of that, you throw in this really cool, totally unexpected surprise by giving the first ten (or X number of customers) that enter your restaurant a $50 (or X dollar) gas card to boot for doing so!
They’ll talk up your business even more at work! And while their socializing, they’ll definitely tweet about it! They’ll gladly mention you on their Facebook page etc! All that positive marketing buzz for a mere $50 dollar investment!
Are you starting to appreciate the long term marketing potential, simply by buying referrals, for literally pennies on the dollar. 😀
This Is How You Systematically Crank Your Direct Marketing Approach Up A Notch Or Two!
Try to create this same amount of long lasting buzz with your outrageously expensive radio ad and or prime time TV campaign. And or outrageously expensive half a page display ad! Good luck!
In reality (in case) you haven’t figured it out yet, these low cost, high powered positive word of mouth marketing strategies cost your furniture store owner or business X owner, (on average) a grand total $200 dollars per lead or less!
So they just saved them anywhere from 43-50% upfront per lead! Their happy! The twenty percent of your ideal customer base (which) by the way, only accounts for 80% of your gross front and back end revenue.
Plus they quickly put two & two together and realizes, it’s always best to bring a new potential first time customer over 18 with them to your restaurant! So what if it used to cost you a grand total of $97 dollars per new referral lead! Or X.
Don’t Just Put Your Entrepreneurial Ideas In Place! (Give Them The Much Needed Boost They Definitely And Deserve!)
Now your much better financed joint venture partner(s) gladly pay you (in this particular example) for illustration purposes only, a minimum of $175 per lead or more.
For access to the exact same customer that is still going to be worth (to them) over time, somewhere between a low of $7,500- $13,000 dollars! Is that $200 dollar per lead a good investment for them or not? Any questions? 😀
You’re also building your VIP opt in email/mobile marketing list like crazy! Are you not?
And eventually start putting together mega local joint ventures with other larger well financed companies.
Whereby you send out one -three simple emails, to your ever growing opt in email (and or) snail mail and or mobile marketing list of 5,000 customers! Or more!
Alerting your valued subscribers/VIP customers that this weekend only, such and such appliance center is having their annual “closed to the general public” blow out sale extravaganza!
And anyone that mentions that they got your email and spends $50 dollars ( X number of dollars) or more automatically saves X percent off!
And the appliance center captures a new customers contact info and pays you a 25 (or X%) joint venture (JV) passive income commission!
Can You Live With Type Of Bank Account Filling Marketing Leverage Or What!
You multiply this one simple concept alone times five local mid sized or larger companies and if you haven’t increased your long term gross front and back end profits by a bare bones minimum of 25% in the next twelve months or less! You should definitely be arrested! 😀
And here’s the other critically important thing! If after reading (and hopefully) re-reading these three posts,you can’t or haven’t come up with at least three new inexpensive marketing strategies to test.
Please (do us both a favor!) do not waste anymore time reading this particular marketing blog! That’s dedicated to savvy small business owners and service providers that are seriously looking for proven, tips, techniques and other low cost strategies to grow your business for pennies on the dollar!
Some Of Your Best Marketing Campaigns Are Simply About Helping Others In Order To Ultimately Help Yourself!
Because these mega proven marketing ideas and concepts are simply not for you! Period!
No hard feelings, but you (my friend) are simply wasting your irreplaceable valuable time coming here!
Otherwise, your now more than well versed in how and why you should be strategically buying referrals in your particular niche for pennies on the dollar.
By now you know the routine! Please Google Plus or tweet this! Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series! It’s a $97 dollar value and it’s free!
