Entrepreneur What The Heck Do You Mean You’re Not Into Using Incentive Based Marketing Strategies Or Tactics?
Even though it was definitely more than a few years ago. (My how time definitely does fly by, agreed?) Anyhow, there was a time when you and I, (in America anyway.) You couldn’t turn on your TV after one am in the morning. And some time between one am and five am.
There was a man or woman telling us through their 30-60 minute paid, (direct response type of) infomercial. Why we definitely needed to constantly be investing in some type of income producing real estate.
Using none of our own money of course. In other words using some type of so called “No Money Down” (aka) “Creative Financing” methods. Which they were only to willing to share via their paid live or home study course. Or through one of their high end paid coaching or mastermind group coaching programs etc.
The bottom line to it all. They were into some type of incentive based marketing strategies or tactics. Because no matter what type of potential money making product or service they were promoting.
Rest assured, it definitely involves some type of proven direct response marketing strategies and tactics to consistently make it happen. The remainder of this post reveals “how” one iconic info-preneur did it to the tune of millions.
Why Some Form Of Bank Account Filling Information Marketing Still Rules To This Day!
So back in the mid 80’s to early 90’s. The name Dave Del Dotto was the equivalent to investing in income producing real estate. Using none of your own money. In other words using some type “Creative Financing (aka) “No Money Down’ strategies or tactics. You couldn’t turn on your TV. From one to five am in the morning.
Literally seven days a week without seeing one of his incredibly popular and extremely profitable paid 30-60 minute informercials. During Dave’s heyday. He claimed to average 1,500 sales per week of his flagship $297 dollar “cash Flow System” home study course alone. (I’ll let you do the math.)
Minus the cost of his rapidly growing in house staff, toll free lines, monthly commercial leasing cost. The X% of refund requests and constantly rising costs to run his paid infomercials etc.
As well as traditional paid advertising/promotional and fulfillment costs etc. Once you deduct all of his front end costs. There still seemed to be more than enough left over for Dave to live pretty darn well.
Dave Made Darn Sure He Either Created Or Leveraged The Vast Majority Of His Potentially Profitable On Or Off TV Marketing Or Promotional Opportunities!
Case in point. At the height of Dave’s fame, influence and visibility. Dave routinely got paid upwards of $40,000 dollars just to deliver a keynote 60-90 minute speech at some of the top real estate investment and business start up conventions.
As well as some of the top entrepreneurial based conventions in his day. (And of course some of them were both video or audio recorded for additional marketing or revenue generating purposes later on.)
For a moment consider the following previously untapped marketing opportunities. Dave also sold a popular offline monthly newsletter. Which typically retailed for $127 dollars for twelve issues. (Obviously I have no reasonable way of knowing what his actual hard costs were to produce each issue.)
But he also offered an incredibly popular three month free trial subscription. And he knew after he and his expert team of extremely marketing savvy professionals ran their numbers.
He/they could reasonably expect for every number of free three month trial subscriptions they gave away to his newsletter. At the end of 90 days give or take. They knew on average X% of them would upgrade to a full year at X.
And simply by paying either via credit card or money order. For an extremely limited time Dave would ethically bribe them. By providing one of the following three bonuses worth X.
Entrepreneur Have Or Are You Starting To Notice Or Appreciate How Some Type Of Extremely Time Sensitive Ethical Bribery Is An Evergreen Marketing Strategy Or Tactic?
1.) Potential bonus worth X number one: For an extremely limited time. Simply for upgrading to a full year of Dave’s paid newsletter. As long as they pay be either money order, cashiers check or credit card. They can automatically get an 18 month paid subscription and save 25% or X off the current retail price of X
2.) Potential bonus worth X number two: For an extremely limited time they can purchase any two of Dave’s most popular workbooks and save 40 or X% off the current retail price. ( Accompanying cassettes or videos not included. But could obviously, potentially, for an extremely limited time. Be sold separately at some sort of incentive based discount price. )
3.) Potential bonus worth X number three: For an extremely limited time you could purchase Dave’s flagship “Cash Flow System” course and save 30 or X% off the current retail price.
What Dave and his extremely marketing savvy team is banking on is. What percentage of these paying customers ultimately upgrade to one of his high end coaching packages. Which ranged in price from $5K-$10K.
Entrepreneur are you starting to better appreciate “why” some type of incentive based marketing strategies or tactics is definitely a must? Let’s hope so.
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