Just Because Your Brand Equity Building Process Doesn’t Rival A Fortune 500 Company Just Yet! Part Two
Hopefully after initially reading part one of this ongoing series. You can now hopefully better appreciate “why” you or your major competitors definitely don’t need a fortune 500 type of budget in your to be incredibly successful with your brand equity building process.
Granted, no one is suggesting have direct or indirect access to a ton of money, wouldn’t help your cause. But let’s face the undeniable facts as quickly as possible. The vast majority of us (myself definitely included!)
We won’t ever have direct or indirect access to the types of budgets fortune 500 companies routinely squander. But thank goodness a little marketing creativity goes a mighty long way.
Clearly it doesn’t make sense to try and go head to head in a traditional advertising sense with major competitors who clearly have both direct and indirect access to major advertising/promotional budgets.
Instead you and I need to systematically leverage other non traditional resources or assets. And consistently doing so just might surprise you.
Here’s Where A Little Strategic Business To Business Marketing Efforts Potentially Pay Off Big Time!
Quickly picking up where part one left off. Your single location, non franchised retail jewelry store decided to at least inexpensively test some non traditional lead generation strategies and tactics.
Case in point. Rather than spending (more like wasting!) a staggering $40,000 dollars a month on your outrageously expensive, dismally performing local billboard ad campaigns.
And clearly you and practically every body else involved can readily appreciate the fact the vast majority of the locals exposed to these billboards barely pay them any mind, correct? On the other hand try this particular train of thought, with regards to strategically and systematically building your brand equity for literally pennies on the dollar.
As you also recall from part one. You or your major competitors decided to 100% sponsor local book signing events for local up and coming female authors. Who for whatever reasons to date their publishing careers haven’t quite taken off just yet. (But who knows what major publishing success awaits them.)
But because they’re extremely proactive on social media. You or your major competitors are more than willing to ethically bribe these ladies in the following two ways.
1.) First: As long as these up and coming local authors can convince at least 15 other local ladies to attend their book signing events. You or your major competitors will gladly reward them by allowing them to purchase a pair of extremely eye catching diamond studded earrings which usually retail for $650 dollars a pair.
But just for generating at least 15 other local ladies to their book signing event. They get to purchase them for just your actual hard cost of $325 dollars a pair or X.
You Leverage The Right Type Of Promotional Strategies And Tactics! (And You Or Your Major Competitors Won’t Need As Big A traditional Advertising Budgets!)
2.) Second: Just for generating at least 30 local women to any one book signing event they participate in. They automatically get an extremely beautiful diamond studded necklace which typically retails for at least $2,000 dollars.
But for an extremely limited time they only pay $950 dollars. And the moment they generate 30 paying customers for you or your major competitors. You gladly give them what they paid, (in essence their deposit) back to them. Say what?
Think about ‘what” you know they will consistently be doing going forward. They’ll be constantly bragging both on and off of social media, correct? Plus don’t forget what will definitely be constantly happening to them to some degree or another as they these local authors go about their daily lives.
You know at least some of their besties, neighbors, in laws, siblings and social media followers will definitely wanna know “how” they can get hooked up as well, right?
This being the case. Here’s “what” you or your major competitors will do after each local book signing event. You offer each lady or man in attendance, one of your best market tested, two sided index/ gift certificates.
This Is How You Or Your Major Competitors Make Deadlines Work For Not Against You!
And every lady who joins you or your major competitors opt in email list. And drags a friend with them to your store whose at least 18. Before your ten or X day expiration date window expires.
For doing so they get to purchase those exact same pair of diamond studded earrings which usually retail for $650 dollars a pair. But they only half of what a $450 dollar a pair would cost. Meaning for an extremely limited time they only pay $225 dollars a pair.
And as long as their guests also joins you or your major competitors opt in email list before they leave your store. They only pay $225 dollars a pair for a pair of diamond studded earrings which usually retail for $450 dollars a pair.
Rest assured at least some of these guests will leap at the chance to save a bundle and gain instant bragging rights. And for every lead these local females generates for you or your major competitors.
Who ultimately converts into a paying customer for you. You or your major competitors will gladly pay them $200 or X number of dollars per.
So they hopefully sell some books at their events. But they also have a back end component which (going forward) could potentially be worth $200 dollars per lead converted to front end customer.
Entrepreneur this is “why” you or your major competitors definitely don’t need fortune 500 backing in order to have a successful brand equity building process. Don’t you agree?
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below)
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