Or Are You Laser Focusing On Systematically Building Incredibly Valuable Relationships?
So “how” do you define the term expensive advertising? Do you currently have a set definition by any chance? Because if your current traditional advertising strategies are in fact profitable.
Both on the initial front end. And equally important are profitable on your long term “repeat customer” back end of your sales funnel. By all means keep running them. (You should definitely be strategically A/B split testing as you do so. )
And you may wanna skip reading this particular blog post altogether. but if your outrageously expensive ads simply aren’t getting it done up until now.
Then maybe it’s time you at least considered testing some potentially profitable marketing/promotional alternatives. Don’t you agree?
Strategically Creating Customer Loyalty Is Proven Way To Systematically Lower Your Ongoing Advertising Costs!
Take a closer look at what I mean. And as always fellow profit seeking entrepreneur. The following hypothetical marketing examples.
Are being used strictly for marketing illustration purposes only. (Check out this brain dead simple. Potentially profitable, almost never at least inexpensively tested Joint Venture (JV) revenue sharing arrangement.
Take a local, non franchised retail store which sells mid to upper priced baby cribs. And other popular items expecting and current moms & grand moms adore. 😀
And they strategically partner with your popular, women’s cosmetics distribution business. At first glance it may seem like the pairing of the odd couple, correct? That is until you and or your main competitors have a much closer look.
Creating Lead Magnets That Both Directly And Indirectly Help Other Non Directly Competing Entrepreneurs Is A Proven Win/Win Strategy!
So imagine both the immediate short and long term positive word of mouth buzz. You and or your major competitors will definitely create and perpetually benefit from.
Simply by sponsoring a free monthly drawing. Where the retail crib sellers daily, weekly and monthly walk in traffic. Could enter a free drawing via the retailers opt in email list. (And if the incredibly savvy retailer doesn’t currently have their very own opt in email list.
You and or your major competitors make it your business to help them set one up asap! 😎 Let’s say your women’s cosmetic distributorship purchases one of those stunning $3,500 or X dollar baby cribs!
That type of attractive, practically irresistible lead magnet. Would make it awfully hard for a certain percentage of their stores daily foot traffic to resist entering, correct?
And remember you and or your major competitors are buying the crib at the retailers actual hard cost of half or X, correct? 😀
Entrepreneur Get Ready For A Positive Word Of Mouth And Mouse Explosion!
Not only does the monthly or quarterly 1st grand prize winner. Win this totally fabulous $3,500 or X dollar high end baby crib.
But because both you and your major competitors already have a pretty good idea. “What” your ideal prospect and customers total lifetime customer value metrics are.
(Get this!) The 1st grand prize winner. Also gets to host a “baby shower.” But not at their home or apartment or condo etc. Instead they get to invite a maximum of 60 or X number of local moms or local women to a popular local, non franchised hotel business owner.
Entrepreneur can you and or your major competitors imagine the positive word of mouth and mouse power tsunami about to take place? For a fraction of the traditional front end cost. 😀 Because 60 local women.
All know at least 25 other local women, do they not? (60 X 25 = 1,500 strong!) And on average about 30 or X% of them will usually become a 1st time customer of you and or your major competitors within the next 30 or X number of days or less!
(1,500 X .30% = 450) Entrepreneur if you’re willing to turn your nose up to that type of initial front end revenue. You can bet some of your major competitors won’t! 😀
And you’re just initially scratching the initial surface. You or your major competitors will discover what I mean. Coming up very shortly in an additional installment. (Possibly a part three. Or I may just title the blog post something else.
But delve even deeper into to these potentially profitable concepts.)
For now fellow profit seeking entrepreneur. Are you starting to better appreciate “why” simply running outrageously expensive advertising. Might actually be impeding your long term growth!
Strategically Stair Step You Way To Whatever Level Of Success You’re Comfortable With!
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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And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly to me or vice versa! Thanks!
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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