How Strategically Building Relationships Opens Th Right Doors A Whole Lot Faster!
So here you go once again entrepreneur. You’re fretting big time over which potentially expensive traditional advertising medium to use. Never mind the quickly forgotten fact which is. No matter which one you and your team ultimately settle on to at least start your traditional advertising journey.
Your reach will be extremely short lived. Say what? Think about whichever social media platform you run your PPC (Pay Per Click) ad campaigns on. Even though Facebook’s outrageously pin point and laser targeted technology allows you to ultimately zero in on your ideal audience.
You still run the all too real risk of having your account(s) temporarily or permanently shutdown, right? But even if your account(s) don’t ever get completely shut down.
The sad (not too often mentioned!) fact of the matter is. Even the worlds top guru and guruettes initially get their ad campaigns wrong a staggering 90% of the time. Say what? Yea, the vast majority of their paid ad campaigns ultimately fail. But because they strategically A/B split test, track, monitor and constantly tweak.
They ultimately get it right. On the other hand by you and I or your major competitors strategically building relationships with other non directly competing vendors. You can literally springboard your way towards major success a whole lot faster. (Typically for a whole less.) As you or your major competitors are about to discover.
Entrepreneur Successfully Growing A Business or Service Just Got A Whole Lot Easier When You Start Strategically Building Rock Solid Relationships!
Sadly this is where far too many profit seeking entrepreneurs go off the rails. And they start spending, more like wasting a ton of their extremely hard money on outrageously expensive, dismally performing traditional ad campaigns.
Which usually means a staggering 75-85% of their front end costs goes to their advertising/promotional expenses. And what’s left initially goes to their gross front end profits. If there is any. And because on average your typical aspiring on or offline entrepreneur has no market tested back end process in place.
They either barely break even even or constantly lose money on the their initial front end sales. And this is “why” in just five short years or less. The vast majority of them are literally forced to throw in the towel. (Sound all too frighteningly familiar?)
You on the other hand definitely have some extremely viable marketing alternatives. Say what? Say for example. Entrepreneur the following hypothetical marketing examples are strictly for marketing illustration purposes only.
Ladies And Gentlemen Never Forget That Whatever Resource Or Connection You Currently Lack! (Another Non Directly Competing Vendor Already Has Direct Access To!)
Case in point. Let’s say your exotic beverage distributorship is one of the most popular in your immediate area. Or soon will be. And your extremely great tasting coffees, cocoas, lemonades and ice tea beverages constantly fly off the shelf.
But rather than keep wasting a fortune on those not exactly cheap full and half page ads in both the local throwaway guides and the local Sunday newspapers etc.
You want to get your great tasting product in the hands of local men and women who not only absolutely love great tasting gourmet coffee. But have no problem paying top dollar for it as well.
So because you’ve already run your ideal -non- business owners total lifetime customer value metrics. You know it definitely makes sense for you or your major competitors to get the ball rolling and allowing them to sample a cup of whatever. Either at your actual hard cost or for free.
Entrepreneur Run Your Numbers So You Know Going In What You Really Can Afford In Order To Generate Your All Important First Time Customer!
Which explains “why” you or your major competitors leap at the chance to almost giveaway or at cost. Either a free first cup. Or ethically bribe them to drag someone with them, (who preferably) also loves great tasting gourmet coffee or whatever. And in exchange for them doing so. They get to purchase at least one five pound bag of whatever and save 40 or X% off.
But simply for joining you or your major competitors opt in email list. They automatically get to purchase at least one ten pound bag of the beverage of their choice at your actual hard cost. Say what?
And provided their guest also joins your opt in list before they leave your store. They also save 50% off their purchase of any five pound bag or higher. If they decide not to join your list they only save 10% off. (In other words you make it more than worth their while to become a VIP subscriber.)
So Where Does This So Called Strategic Relationship Building Come Into Play?
Great question and I’m so glad you finally asked it. So imagine ‘what’s” gonna happen. When you or your major competitors successfully negotiate the following arrangement with at least four or five local hair, nail salons and men’s barbershops.
You or your major competitors will gladly pay, (100% finance) the cost for all of these local vendors to get paid email service providers. Like Aweber, my paid email service provider of choice. Say what?
This way each shop can start offering a monthly free drawing. Where each month one guaranteed 1st grand prize winner automatically wins 500 or X amount of dollars worth of credits to that particular vendor. Huh?
And as their opt in list continually grows. Guess what else these vendors can send to their extremely loyal subscribers? If you said you or your major local competitors, extremely time sensitive gift certificates. You are correct.
Think about all of the previously untapped marketing/promotional around the major holidays alone.
Are You Starting To Appreciate How You Or Your Major Competitors Are Just One Or Two Emails Away From Some Major Gross Front Or Back End Profits?
So the vendors send an email to their subscribers. But only to the ones who checked a box indicating they wished to be contacted. Any time the vendor had some extremely time sensitive offers from other local vendors like yourself.
So they drag a friend with them whose at least 18. Before the X day expiration window expires. And they’re given a free plastic “Big Gulp” mug.
And now any time they or their guest bring the “Big Gulp” cup with them to you or your major competitors store. Instead of paying $5.79 or X per cup. They only pay $1.99 or X per cup. (Some much lower retail price.)
So you know which establishment they and their future referrals will be drinking their gourmet coffee and other exotic beverages from going forward, right? Plus you know a certain percentage of them will be constantly bragging both on and off of social media, right?
That my friend is an incredibly small sample of the potential revenue generating rating power of strategically building relationships. Any questions?
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