How Really Smart Entrepreneurs Make Money In An Overcrowded Marketplace!
(And How You Can Too!)
So right about now, you’re literally scratching your head and partially in disbelief mode, because, you’ve tried this and that!
And some of it more than once, with the same old dismal results, am I right?
Because you’re not one of these kinds of entrepreneurs that started with a bulging bank account,right?
So you’re not about to throw more money, (truth told), you don’t really have, on failing PPC (Pay Per Click) ad campaigns, right? And let’s be honest, your current copy writing skills,(or lack thereof), isn’t going to land you a job, writing creative headlines, for the National Enquirer, anytime soon,correct?
And you know, based on the metrics from your last six or seven, unscheduled “broadcast” email messages, your ability, to write captivating subject lines, that compel your readers to open your messages, is falling a little flat!True or false?
And your banner ads, aren’t exactly being clicked at record rates, now are they? And your offline-snail mail, postcard campaigns, always seem to cost more money, than they ever actually produce in gross profits!
Again, true or false? So right about now, you gotta be wondering (out loud) with all the increased, better financed competition, how are some incredibly savvy, (albeit) semi cash strapped entrepreneurs,still managing to consistently turn a profit?
Especially when their ever growing competition, literally shows no end in sight? Does that pretty much sum things up?
So How Do Some Extremely Savvy Entrepreneurs Still Manage To Make A Profit Even In An Overcrowded Marketplace?
(And How Can You Do It Too!)
Well before tackling that rather perplexing question head on!Let’s quickly answer three critically important questions, that should have (originally) been asked, well before any type of formalized marketing plans, strategies, and or tactics, were ever (even) discussed, or put into place!
Because by doing so, and based on your brutally honest, (overall) assessment and straight forward answers.
A much more accurate, marketing strategy, (or series of proven strategies),could and should have been put into place!
1.) Honest assessment question # one: What (if any), specific segments, within my chosen niche, does my current skill set, experience,budget and network, allow me to serve best?
And if definitely makes (long term) economic sense to aggressively pursue?
Can Your Lead Generation Efforts Be Another Non Directly Competing Vendors Back End Profit Center?
2.) Honest assessment question # two: How much of a market share, (of either) the front or back end, of this particular segment, do I continuously need, in order to just break even on my sales funnels front end? (Entrepreneur: Please be brutally honest!)
3.) Honest assessment question # three: What if any, (are the) two most immediate areas, within my top three competitors primary offerings, does my products, services, or JV (joint venture) partners, products, or services, offer the most competitive edge?
(And if you really can’t pinpoint any, does it really make sense, to aggressively pursue, this partial segment of your chosen niche, at this particular time?)
Break Even Lead Generation Strategies Are Far More Profitable Than You Might Initially Realize!
Now entrepreneur, just depending on what your particular honest answers are!Let’s suppose, you discover, based on your ideal customers, long term, total lifetime value amounts.And based on “what” those numbers allow you to spend on various lead generation strategies and or tactics etc.
You discover, it makes economic sense, to literally break even on the front end of your sales funnel, (or darn close) to doing so!
In order to consistently bank, the long term, high gross back end profits!Case in point: Let’s say you’re a local, retail furniture concern, and (at best) your traditional advertising campaigns, which consist of, spending money on outrageously expensive, local TV, radio and newspaper ads etc.
At best, you typically gross a large profit, but after systematically deducting hefty sales commissions, advertising, inventory and short term loan costs etc!
Your Market Tested Lead Generation Strategies Can And Definitely Will Be The Gateway To Multiple Streams Of Income!
You’ll definitely clear a profit alright, but since your other two, (main) local competitors, are much better financed, and don’t have to borrow, anywhere near the large amounts of short term capital as you do!
You can’t afford to spend as much on the front end, lead generation strategies, as they do!But all is certainly not lost!
Entrepreneur Maybe It’s High Time Your Small Business Marketing Strategies Revolve Primarily Around The Back End Of Your Business! (And Not The Front!)
For ex: since you’re currently located in a popular mini strip mall, and there is that popular barbecue place, just three businesses down from you!
And be honest, during the summertime, both you and your employees, practically live in there! Which means, so do a ton of other, local small business owners and service providers, along with their valued employees/associates etc!
Guess what? Those other small business owners/service providers, their valued employees and those businesses vendors, all need, or at some point, bought some type of new or used furniture, did they not?You bet!
So rather than continually wasting a fortune, in the conventional sense, running outrageously expensive ads, trying to reach them!Why not inexpensively test the following instead!
Contact the owner(s) of the barbecue pit, and provide them, their employees, and their vendors, (provided they) join your opt in email list!
Provide them all, with special, laminated,annually renewable discount cards, where each year, for the next three years, they can purchase their first $1,000 (or X amount of) dollars worth of furniture, at your actual cost, plus any and all applicable sales fees and or taxes etc!Say what?
Learn To View Strategic Lead Generation As Your Pipeline To Some Major Back End Profits!
And here’s what you want, in exchange for your generosity!Starting in (May) for the next three years.Between May and September 31.Have the barbecue pit place a giant fish bowl near their counter, and in big bold read letters!
Announce your free weekly drawing! Where every week, local small to mid sized business owners, and or service providers, can drop their card inside the bowl, for a chance to win, $100 (or X) dollars worth of wings,ribs, soda and side orders of their choice!
Then pick them up themselves!But they will receive this once a week, for two months!In other words, for eight weeks!
Entrepreneur, (I’m willing to bet you some major money!) Based on “what” you’ve just read, there is a potential windfall marketing strategy, practically staring you in the face!And you don’t see it, even if you had a magnifying glass!
Not to worry, because you will definitely discover it in part two! So please hang on till then!
Anyway, the retail furniture concern will gladly foot the bill for the cost to fund the free drawing, in exchange for joint ownership of the business cards!(A sort of less threatening way to power list build!)
Entrepreneur Don’t Imprison Your Small Business By The Overall Size Of Your Thoughts!
The main two (marketing) points are these:
1.) Where as trying to advertise to find these same individuals, was literally costing the furniture concern a fortune on the front end!Now that front end cost has been drastically reduced! Has it not?
2.) The furniture concern has just added an additional 750 to 1,000 businesses to their database, for literally peanuts!
And when the barbecue pit sends out their, “Sorry You Didn’t Win The Grand Prize” constellation, snail mail post card campaign, to all the runner ups, each week!
In reality, the furniture concern will foot the bill.
See How Your Well Developed Lead Generation Strategies And Or Tactics Are Like Money In The Bank!
Because the post card will direct all the weekly runner ups, to drop by the sponsors showroom, after they head over to the retailers (mobile responsive) WordPress blog, opt in, to receive VIP special “alert” emails, about their “Every thing Must Go!” repossession liquidation sales events!
These happen, about once every 90-120 days!My friend, that’s “how” some extremely savvy entrepreneurs, continue to make money, even in an overcrowded marketplace!
And how you definitely can too!
Any questions?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!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will
help you increase your gross profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular
niche market is.)It’s a $97 dollar value and it’s free!
