Let’s Talk About An All Too Common Major Marketing Mistake!
(Far Too Many Profit Seeking Entrepreneurs Constantly Make!)
Sadly far too many aspiring, (make that!) profit seeking entrepreneurs are initially content to start from scratch.
And attempt to initially jump into the deepest, (and therefore) most crowded part of the outrageously expensive traditional advertising pool.
Literally trying to compete with business owners and extremely well seasoned service providers with tons more real world experience. And not to mention much deeper corporate pockets and better connections too. 😀
A major marketing mistake if there ever was one. Typically their bank account is but drained long before any meaningful profits are ever recorded. Sound all too frighteningly familiar?
Constantly Providing Value To Customers Is A Proven Form Of Marketing Currency!
Let’s quickly set the stage for this hypothetical marketing example. Which as always is being used strictly for hypothetical marketing illustration purposes only.
Say you’re a profit seeking mom & pop, non franchised local dry cleaning business. And like most if not all of your local, non franchised major competitors.
You’ve worked hard enough to consistently generate a consistent word of mouth business, correct? And if you started your service prior to formalized social media. Now a days you also get your fair share of word of mouse exposure too, right?
And for the most part things are rolling along pretty good. Until the evitable dreaded local recession hits. And suddenly everything you’re used to doing is not quite generating enough revenue. Things get tough really fast.
It definitely puts, if nothing else additional temporary stress into both your personal and business relations. You’re not sure if you can hang on long enough this time.
(Welcome to the club.) Sadly depending on “how” severe and how long this particular local recession actually lasts. Some of your long time major competitors may literally be forced to close their doors permanently. After X number of years of being a successful local business owner/service provider.
So If They Don’t Have To Constantly Struggle! (Why Are They?)
Let’s simplify this hypothetical marketing example. In order to laser focus in on some viable practical, (albeit) non traditional marketing/promotional solutions.
Think about the popular women’s clothing store. And the popular women’s shoe store. And at least one or two popular women’s hair and nail salons.
Entrepreneur an established power partnership arrangement of some kind with each of those profit seeking, (not to mention) established enterprises.
Is more than sufficient to help carry you and or one of major local competitors through any prolonged local recession.
For one thing the women who own all of the previously mentioned establishments. And all or most of their current and future employees.
Rest assured a percentage of them would love to be grandfathered in for life at X% savings. Regardless of “how” much they spend on each order, correct? (Wouldn’t you?)
Remember Don’t Just Focus On That Initial Front End Customer! (They’re The Gateway To The Long Term Back End Gross Profits!)
Both owners of those established businesses as well as their current and future employees.
In this day of extremely well oiled social media activities. You know at least some of them will be constantly bragging to their:
In-laws, current and future neighbors, siblings, besties and whomever else they can get to listen to them, correct? On top of that you throw social media into the mix.
Hopefully you see and appreciate at least some of the long term untapped marketing possibilities. Can you not?
My friend this is just an incredibly small sample of what’s potentially possible. And hopefully you now better appreciate a major marketing mistake. (Which is trying to be an island.) Don’t do it. Your business or service may not be able to survive strictly on it’s own. Don’t you agree?
Let’s Talk About An All Too Common Major Marketing Mistake!
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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