Entrepreneur You Definitely Can’t Attract Customers Just Because You Spend A Ton Of Money!
(On Outrageously Expensive Traditional Advertising Campaigns!)
So how long have you been trying to profit from your PPC (Pay Per Click) ad campaigns? And during this time surely you’ve noticed the overall price of these ad campaigns is steadily going up, correct? Especially on the major social media platforms.
And when you throw in the fact it may actually take a few weeks in order for your ads to be show to your ideal prospects. Meanwhile your overall costs steadily add up, do they not?
So it’s only logical for you or your major competitors to conclude just because you continuously spend a lot of money on outrageously expensive traditional ad campaigns.
Doesn’t automatically mean you can attract customers, right? Sure you’re definitely better off if you have extremely deep pockets to begin with. But what’s your alternative if you don’t?
This Is How And Where Building Your Personal Brand Comes Into Play!
Entrepreneur for just a moment think about the long term marketing affects of spending $75,000 dollars once. Say what? You or your major competitors buy up a full or half a page ad in a popular local Sunday newspaper.
And you’re advertising a blowout sale at your single location, non franchised retail jewelry store. For sure you’ll generate some first time and repeat customers.
But mostly you or you major competitors will generate a ton of one and done lowest price driven local consumers. And the really sad part is. Almost no new opt in email subscribers. Say what?
Primarily because you’re not proactively attempting to build your opt in subscribers. And while you’re being brutally honest. A ton of local who didn’t see your ad because they simply didn’t or couldn’t find time to read the Sunday paper until it was already Wednesday of the next week. So they just ended up throwing it out, correct?
So how did you or your major competitors make on that?
Entrepreneur If You’re Gonna Spend A Ton Of Money Once! (You Better Make Darn Sure You Get Or Generate Some Major Positive Word Of Mouth And Mouse!)
So let’s do a sort of A/B split test here. Say what? Instead doing what was just suggested. What if you’re the senior marketing director for this single location, non franchised jewelry store.
And you’re going to invest the same $75,000 dollars in the following manner. You partner up with an upscale local women’s shoe store. And set up a make shift portable table right in their shop. And place a huge signs which says spend over $200 dollars and join our opt in email list and you can purchase a pair of diamond studded earrings.
Which usually retail for $650 dollars a pair. But you only pay $225 dollars! (This exclusive offer is only available before you leave the store!) Here’s the two prong method to your marketing madness.
1.) First: In order to qualify they have to spend at least $200 or X amount of dollars in the women-s shoe or clothing store etc.
2.) Two: Next, in order to qualify for your extremely time sensitive offer. They have to join you or your major competitors list.(Ethical bribery 101 at it’s best.)
Who Says Spending The Exact Same Amount Of Money Automatically Equals The Exact Same Long Term Results?
Here’s how and where these subtle marketing/promotional differences really separate you from your less savvy marketing competitors. So the goal is to generate a staggering 333 locals are showcasing your bling. Say what? (Entrepreneur divide 225 into $75,000 and seem what number you end up with. 225 divided into $75,000 = 3333.33 correct?)
So in other words. 333 local women gladly join you or your major competitors opt in email list. So they can purchase a pair of extremely eye catching diamond studded earrings which typically retail for at least $650 dollars or X.
But for an extremely limited time, they only pay your actual hard cost of $225 dollars. Now just like the $75,000 dollars or X which was spent on the full or half a page Sunday newspaper ad. In the end the money is still gone, correct?
However, going forward. Which approach do you think will have these 333 or X number of local women constantly strutting around showcasing your bling? And constantly bragging to their besties, in laws, current, past and future neighbors.
And constantly bragging to their current and future co-workers, employees and fellow association members etc.
And What About When They Attend Local Social Events Or Neighborhood Barbecues etc!
Suppose they attend a local PTA or school board meeting or Neighborhood Block party. Guess whose great looking bling they’re definitely gonna be wearing? And for just a second let’s run some (purely!) hypothetical numbers, shall we? since each of these 333 or X number of local ladies all know at least 25 other local women apiece, right? (333 x 25 = a staggering 8,325 other local women.)
And typically on average about 30% of that gross number will become paying customers of you or your major competitors within the next 60 days or less. (Especially when you or your major competitors strategically implement the proven strategies you’re about to discover in part two. (So please stay tuned.)
Anyway, 30% of 8,325 equals 2,497. And “if’ their average spend in this upscale women’s shoe store on your awesome looking bling is just $25 dollars. Entrepreneur you can have the pleasure of doing the math. (2, 497 x $425 = 1,061,225. And that’s on the initial front end.)
Yes these numbers are purely hypothetical. But the main point is. Are you starting to better appreciate why you or your major competitors definitely can’t attract customers just because you spend a ton of money on outrageously expensive traditional ad campaigns? Say yes.
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