How Some Extremely Savvy Entrepreneurs Turn Word Of Mouth Advertising Into An Extremely Profitable Asset!
(And Why You Should Too!)
Have you noticed, (more times than not), whenever you take inventory, of (both) the tangible and intangible assets, of successful and the really successful entrepreneurs among us.
Those men & women at the very top of the food chain.
Practically always have a ton of on and offline goodwill, associated with their names, brands and or businesses/organizations!
In other words more times than not, they consistently get more than their fair share of positive word of mouth advertising.
Have you noticed this all too common thread as well?
In fact, in many instances their goodwill, often translates into bankable results, for those whom they bestow their verbal goodwill upon!Correct?
Case in point, whenever the “Oprah” says your particular restaurant has the most divine X imaginable!
Guess what? Get ready to hire more people, (and add a new bookkeeper),because you’re about to experience a flood of brand new first time and repeat customers, and or clients!Am I right or what? 😀
And by the very same token, on the local level. There are some highly influential men & women, who if, or when they say your product, business and or service is the one.
The public responds in droves, wallets open and social media platforms on full blast! Right?
And what profit driven entrepreneur, could possibly be say no, to a proposition like that? Especially when the local competition is intensely fierce, and getting more crowded by the day!
So How Do Some Extremely Savvy Entrepreneurs Manage To Convert Their Positive Word Of Mouth And Mouse Advertising Into An Extremely Profitable Asset?
(And Can You Do It Too?)
So let’s take the case of, an extremely profitable, (local) retail furniture concern, a very successful commercial real estate developer.
And an extremely savvy, and very well connected commercial real estate broker.
(And watch very closely, and discover how you can and definitely should be getting, and consistently generating, your fair share, of positive word of mouth advertising too.)
(Important note:Be sure you watch the accompanying video, because in it, you will discover these exact same three major players.
Only in the video, it’s the extremely marketing savvy, retail furniture concern that orchestrates the eventual outcome!
Being An Extremely Marketing Savvy Entrepreneur Definitely Gives You Advantage! (Whether Or Not You Consistently Benefit From It Is A Whole Other Matter!
This time, the entrepreneurial tables are turned, and it’s the extremely marketing savvy commercial real estate broker, whose directing every bodies movement, for the mutual benefit of all concerned!) (A little direct marketing triangulation if you will.)
Any how, because this particular commercial real estate broker, is one of the top three in this particular district, and she’s been an extremely active business leader, for the last twelve plus years!
Extremely Savvy Entrepreneurs Lead Through Marketing Examples Not Just Fancy Words Or Slogans!
Over that period of time, she’s managed to forge some serious, rock solid friendships, and business relationships, with several of the top local bankers, title company executives, law firms, CPA firms, plumbers, elementary & HS school principals.
She knows the best real estate rehab specialist, florist, dental offices, car dealership owners, (both foreign and domestic.) And retail furniture and appliance dealers as well!
Just to name a few aspiring local entrepreneurs! So it really comes as no surprise, that when she and her husband, recently closed on a brand new $750,000 dollar luxury home!(You go girl!)
Proven Direct Marketing Strategies And Or Tactics Can Put Your Semi Cash Strapped Small Business And Or Service Right In The Middle Of Things!
She decided, they definitely needed to do a brand new, $15,000 dollar furniture makeover as well! 😀
However, she also decided, rather than pay full retail price for their furniture they ultimately decided on.
Instead, she would cash in some of the “goodwill” chips she’s definitely accumulated over the years, and approach one of the top, local retail furniture concerns, and propose the following!
Effective Lead Generation Techniques And Or Strategies Are Only Limited By The Imagination Of The Participants Involved!(Don’t You Agree?)
This extremely marketing and local PR (Publicity Release) savvy commercial real estate broker, approaches several, local retail furniture concerns. And she proposes the following potential, strategic alliance (joint venture) (JV) arrangement.
Going forward, any time she, and or one of her nine registered real estate agents, show,list and or sell any type of property.
Those agents will hand those individuals, (and or their representatives), one of the furniture concerns,best market tested, extremely time sensitive VIP, “new customer only, deep discount coupons!
Your Marketing Funnel Doesn’t Have To Be Large Just Effective!
And needless to say, with nine full time, extremely active agents,consistently passing out one of these extremely lucky furniture concerns, extremely time sensitive deep discount coupons every week, 52 weeks per year!
Plus, periodically mentioning the coupons on the commercial brokers Facebook fan page, which currently has 64,675 active followers!
This incredibly simple marketing and or promotional strategy, will ultimately lead, to some bank account filling, positive word of mouth advertising results. Don’t you agree?)
Pus, whenever the furniture concern wants to hold, a closed to the general public,weekend, private inventory blowout sales events!
Since the commercial broker also currently has an extremely active, VIP double opt in email/ list of 12,477 subscribers. Plus an additional 1,593 active VIP mobile marketing subscribers too!
Really Good Entrepreneurial Ideas Is All About Making All Participants Winners!(Right?)
So (you best believe), whenever she sends both of her list, any type of extremely “time sensitive” offers, a certain percentage of her list, who let’s face it already, they routinely earn, six, seven and eight figures per year as well!
And routinely socialize, vacation with,are married to, and are in some way are related to others that do the exact same!
Her periodic messages to these particular groups, and all the goodwill she’s built up over the last dozen years with them.
Will most definitely translate into some major cash for those extremely fortunate businesses! Who are smart and savvy enough to partner with her.Don’t you agree? Absolutely.
Your Small Business And Or Service Definitely Has Some Untapped Major Influence!
So based on those rather startling facts entrepreneur, do you think it’s much of a stretch, that at least one of these major retail furniture concerns, would gladly let this commercial real estate broker, buy (at least) $15,000 (or X amount of ) dollars worth of luxury furniture, at the retailers actual cost, (plus) any and all applicable taxes & fees etc!
In exchange for the broker (highly) recommending their particular store exclusively, to all of the brokers, current, past and future customers, prospects and or professional or personal network!Would you?Agreed!
So my friend, is the mystery starting to at least becoming partially solved?
As to “how” some of today’s savviest entrepreneurs, manage to turn powerful word of mouth & mouse advertising, into an incredibly profitable asset?
Whose Says A Little Goodwill Isn’t A Good Thing To Constantly Have Flowing Throughout Your Entire Marketing Funnel!
By constantly generating, some bank account filling, positive word of mouth advertising opportunities.Often times, for literally pennies on the dollar.
Say yes! Good! Because now it’s your turn.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 share this on your favorite social media platforms or tweet this.Thanks!
And if you’re currently registered on either Linkedin or twitter, and you’re definitely serious, about doing some form of power networking. Let’s get connected asap!
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.
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Hi Mark,
More examples of the power of networking and the effectiveness of making local connections.
Your strategies seem to revolve around an initiator looking for a win/win outcome, then going on the front foot by taking the good news to the recipient.
That is the key. It’s not the idea itself that makes the difference. The difference is that one person shows leadership and then INITIATES a process.
Great stuff, Mark
Kim
Kim Willis recently posted…14 Marketing Mistakes That Most Businesses Make
Thanks Kim!
That was so very well articulated!One thing is definitely for sure,
that you have often pointed out, unless or until something of
value gets sold, and there is some type of leadership being demonstrated.
Almost nothing of any significance will happen!
Great points and thanks for taking the time to share them!
They are always welcome and greatly appreciated!
Mark Newsome recently posted…How Some Extremely Savvy Entrepreneurs Turn Word Of Mouth Advertising Into An Extremely Profitable Asset!
Powerful lesson as always Mark. I am a huge believer in the power of word of mouth advertising and have experienced firsthand how these relationships have a way of taking on a life of their own. I used to work for a little hotel in Ka’anapali here in Maui and before I moved into international markets I handled groups.
One day I received a call from a small incentive house about a group about organizing a trip for a small but elite group of sales people. He’d never been to our hotel but had heard so many glowing stories about it that he wanted to work with us. Our hotel was hugely popular in the tour and travel market, but it was a 3* at best so I encouraged the planner to consider Hyatt Maui and promised to personally follow up with them to see that he was well taken care of. I called the marketing manager over at Hyatt and gave him the specs for the lucrative program and he didn’t say a word during the whole time. Finally, he said, are you serious? Do you mean, you are just giving us this business? I explained that my concern was for the client and wanted to make sure they got the quality facilities and service befitting a high-end incentive. While that truly was my only intention, as a result of that one action we forged a collaborative partnership with Hyatt and the incentive manager sent me 3 other groups! And it all started because of stories he’d heard about us, talk about a win/win!
Marquita Herald recently posted…How to Release Self-Doubt and Build Sustainable Confidence
Wow M!
That is an extremely awesome story!Thanks so much for sharing it! It’s amazing,
how many times you or read about these type of long term collaborations, that start
with nothing more, than an extreme act of kindness, on one of the partners part.
And then, similar to your ultimate outcome, the overall positive snowball effect
takes place!
And yes, your situation was definitely a win/win!Thanks again for sharing it!
Mark Newsome recently posted…How Some Extremely Savvy Entrepreneurs Turn Word Of Mouth Advertising Into An Extremely Profitable Asset!