How Extremely Savvy Entrepreneurs Scale Their Businesses Even With Tight Ad Budgets!
(And How you Can Too!)
Have you noticed how most extremely savvy entrepreneurs, tend to do things, just a little bit different than every body else?
Especially when it comes to successfully differentiating themselves, from their major competitors.Right?
And often times they can successfully manage to do so, even with their corporate pockets aren’t anywhere as deep, as their main competitors are.
Which is definitely good news, if you thought you needed a mile long bank account, in order to differentiate, and or to scale your business/service, in any meaningful way.
Let’s officially declare it, and get this myth out of the way.You absolutely, do not need deep pockets, in order to successfully scale your business. Certainly it doesn’t hurt to be in that position.
But as you’re about to discover, (thank goodness), it’s not a requirement.
So How Do Some Extremely Savvy Entrepreneurs Consistently Manage To Scale Their Business Growth Even With Extremely Tight Budgets?
Obviously, there is no one size fits all solution here, in fact, as you develop the proper marketing perspectives, you truly begin to appreciate,just how many, extremely viable, marketing options are readily available to you.
Case in point; in our previous example, where the extremely marketing savvy jeweler, decided to buy an upscale booth at, an extremely popular annual bridal show.
This particular state of the art booth, starts at $10,000 dollars. However, just like any other type of commodity,the bridal show owners, don’t always sell out every booth.
Nor does the local TV/radio station, and or local newspaper, sell every ad spot.
So since the bridal show has unsold booths, which typically retail for $10,000 dollars and up, for these popular three day events.(Especially for the higher end ones.)
Here’s what the extremely marketing savvy jeweler proposes.They will gladly pay the bridal show promoter(s), actual hard cost of $4,500 dollars, (or X) instead of the customary $10,000 dollars.
Extremely Savvy Entrepreneurs Always Look For The Low Hanging Fruit Marketing Opportunities!
So right out of the gate, the marketing savvy jeweler, has skillfully negotiated a 55% retail discount, off the normal cost for one of the more expensive booths.
But here’s part two of what they propose to bridal fair promoter. They will gladly, joint venture (JV) revenue share 25% of their gross front end profits with the bridal promoter, if they’ll waive another 50% (or X%) off the cost of their booth!
And the promoters will get it back from the extremely savvy jeweler, in two completely different ways.
Developing Really Effective Lead Generation Strategies Is Always A Must!
So instead of paying $4,500 dollars, for an unsold both, at a popular, annual bridal show, instead the extremely marketing savvy jeweler, successfully negotiates another 50% savings, but offer 25% of their gross front end profits generated from the three day event, with their JV partnering bridal show promoters.
But instead of merely pocketing the total front end savings of $7,750 dollars! ($10,000 – $7,750 dollars = $2,250 dollars.)
Instead, they use it to help some of the other vendors, build their on or offline databases.
For example. Let’s suppose a major local photographer, who specializes in taking awesome looking wedding photos, and or video taping weddings and or receptions etc.
Have You Noticed How Really Good Lead Magnets Come In All Shapes And Sizes!
The jeweler will offer to finance a free drawing, where the winning couple, receive a $2,500 dollar video/photo shoot!
Which means, as the jeweler is readily building their very own opt in email/mobile marketing list, at the event, by offering a free drawing to the attendees of the event, for a chance to win a $3,500 dollar diamond studded necklace.
The jeweler will also offer to provide another $2,500 dollars in credit,(or X) to one of the local, non directly competing companies, which sell popular wedding gowns and other extremely popular accessories.
So their free drawing at their particular booth, will offer potential brides to be, a beautiful, $2,500 dollar bridal gown, as the grade 1st prize.
So think about the potential long term, follow up sales funnel, being strategically built by the extremely marketing savvy jeweler, (and or) extremely marketing savvy retailer X!
Sharp Entrepreneurs Aren’t Afraid To Be Creative!
The photographer, bridal gown company and the jeweler themselves, are now offering list building free drawings, at their individual booths. So if this three day annual event, is anything like normal, the promoters can easily expect, at least 18,000 perspective, local brides to be, (and other curious) local influential women to attend their event.
And each vendor, will collect at least 4,000- 5,000 opt in email/mobile subscribers each.(See the following blog post gladly provided by helpscout.net, as definitive proof, strategic email marketing, is far from dead!)
And obviously, there will be some overlapping of subscribers.Here’s the main point, the jeweler will offer each of their other two JV partners, one of their best market tested, secondary prizes,valued at X.
Which means, both the photographer and the bridal gown company, can not only offer their very own, extremely time sensitive, brand new first time customer only discount savings coupons, to all their runner ups.
Really Effective Lead Magnets Have A Long Term Positive Effect!
But they can also offer one of the jewelers best, market tested,brand new first time customer only, discount coupons as well!Which means, even though the extremely marketing savvy jeweler,(and or) extremely marketing savvy retailer X, started with rather limited funds.
Do you see how they (and or) you and I, could scale our particular opportunities, even though you may initially, be starting out with extremely limited capital? Say yes!
If you do, then hopefully, you can now appreciate, how some extremely savvy entrepreneurs, (who are not any smarter than you!), are consistently able to scale their businesses, even though they don’t or didn’t, start out with a lot of money!
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
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