How consistently making this one major marketing mistake can cost you at least 300% more!Part Two
As you previously discovered in part one of this explosive money making series, about constantly committing a major marketing mistake, while not properly cashing in (big time), by strategically using powerful (bank account busting) joint ventures (aka) strategic alliances, on the regular!
You’re simply leaving an additional 300-500% in long term (spendable) profits on the table! Which also means (sooner or later) your savvy competitors that are also (deadly serious) about making a profit, will bank some of your unclaimed profits! Ouch!
So needless to say, if there was (and there probably is) a must avoid at all cost, short list of major marketing mistakes, this next major no no, would definitely be on it!
Please Don’t Make This Major Marketing Mistake!
(Because It Will Cost You Big Time!)
Remember when you were a kid, they had this cartoon where the chicken ( who was just walking along), came across this nice shiny apple! They picked it up, split it in two, found the worm, ate and simply threw the two pieces of the apple away!
Believe it or not, that is an incredibly (although) tragic example of what a ton of otherwise savvy (on and) offline marketers are doing every single day! And yes, sadly, yours truly must confess to being equally guilty of it too! (live and learn!)
Anyway… just for the sake of illustration purposes only! let’s take a look at just one prime offline example, of this incredibly waste fest!
And see just how much (bankable) marketing juice you can obtain, as a direct result of it! Have you ever (or maybe) a more accurate question is, how many of those (so called) free -local- 90 minute introductory workshops, that always seem to (eventually) whined up costing you (or somebody) that attended them, anywhere from $2,500-$7,500 apiece!
Yea those! Anyway, here’s the real kicker, so pay close attention! As you may have already realized, the most successful promoters of these rather pricey e events, have a ton of up front out of pocket expenses!
Here a short laundry list, that of course, merely scratches the surface!
A.) They routinely pay full retail prices for huge full page displays ads in one (or more) of the most local newspapers. Ain’t that ain’t cheap cadets!
B.) Next, they also buy up a package of short 30-60 second radio ads on at least two of the most popular local radio programs, that traditionally target their ideal target demographic.
C.) Then they also buy several late night cable TV 30 minute inf0-mercial slots promoting, that they’ll be in your local area.
D.) Of course, they’ll need a support (traveling) crew, that typically flies in (first class of course), and they stay in some of your finer upscale local motels/hotels etc.
E.) And of course, they travel (back and forth) from the airport, via limo!
F.) They also typically have some type of free giveaway products and services, in order to get the faithful to return for the final day! otherwise at least half (on average), for whatever reasons, will not!
And they can’t sell, it the prospects aren’t there!
So as you can clearly see, they need to sell X amount of those live prospects,one of those $5,00 to $7,500 dollar training s, just to break even! Or else their live event is a costly bust!
A Gazillion Of These Otherwise Savvy Promoters Still Commit This One Bank Account Draining Major Marketing Mistake!
It’s now the end of pay two (translated), it’s officially crunch time! The promoters have got to persuade the most committed in the audience to take the plunge and whip out the plastic!
And here’s typically how it goes. As soon as the last speaker (and or) promoter closes the event, he/they will typically invite (instruct), those that are ready to invest, to head to the back table, where the “customer service assistant specialist” (aka) sales follow up reps, can assist them!
And the other 93-95% of those left quickly heads (first for) the table to receive their promised free gift(s) valued at X, then immediately for the exits! Sound about right?
Here’s where the savvy promoters should be strategically A/B split testing,so that they can at least recoup some of the upfront money they spent to get those attendees that they paid through the nose to get!
Inform them that, “If for whatever reasons, you’ve decided not to take advantage of our extremely generous (although extremely time sensitive offer at this time!) As you head over to table X, in order to claim your free gift, valued at X!
Here’s our final, “thanks for attending this event offer” to you! For just $7 dollars (or X), meaning, you/they’ll need to inexpensively price test, in order to discover which extremely low front end price, produces the most responses.
Offer them an entirely different (although) highly relevant course (ideally a digital one) that they can purchase, for some price under $9 dollars! But maybe it normally retails for anywhere from $297 -$497!
You can bet a certain percentage of them will decide to go ahead! And when they do, two incredibly lucrative things just happened!
1.) First and foremost! You (or the savvy promoters, just identified a brand new, first time paying customer! granted, they’ve only purchased your extremely low cost front end product or service!
But the fact that their a paying customer, and not just an opt in subscriber, makes 200-500% times more valuable to your long term profitability!
2.) Next, without a doubt! A certain percentage of them, will over time, as a direct result of your continuous follow up emails (and or offline) snail mail follow up (drip) campaigns, will ultimately upgrade and purchase other more expensive products and services!
Consistently Making One Major Marketing Mistake Often Leads To Making Several More!
Even though they may not ever upgrade all the way and purchase one of your high end (offline) home study courses, they may desperately need valuable one on one coaching or eventually purchase another course that cost anywhere from $67-$997 dollars etc!
The main point is, (start systematically) informing your exit crowd, that at least two people (one male & one female), that take advantage of your “final exit offer!’ Two of them will be notified via mobile message and or email, that they also one (either) one of yours and or one of your top joint venture (JV) partners best market tested high end digital information products, that normally retails for anywhere from $697-$3997!
Just for taking advantage of your final (extremely generous) “exit offer!’ Entrepreneur, hopefully you can clearly see, why you don’t simply want to let your (extremely expensive to acquire) prime prospects leave, without making one final strong push, to convert at least some of them into (all important) first time paying customers, so that you can make out extremely well, later on, by actively making a market tested back end sales funnel in place!
Hopefully now, you totally agree, this is one major marketing mistake, you simply can’t afford to make any longer!
Please list at least two simple spin off concepts (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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