How to see real business opportunities that are right in front of you! Part two
As you previously discovered in part one of this series about how to see real business opportunities that are right in front of you, often you’re so close to the forest you can’t actually see the trees.
Or in this particular case, you can’t actually see or smell (both) the short and long term marketing opportunities, even though they be just below the surface of any giving business situation.
For ex: whenever there is an ongoing prolonged nagging recession, this can be one of the most advantageous times to create effective low cost, high powered cross promotion marketing strategies.
Because both business owners stand reap tremendous long term financial rewards, literally for a fraction of the normal traditional costs.
Real Business Opportunities Are Always All Around You!
Take (strictly) for illustration purposes only; the following incredibly simple example of a made to order potential cross promotion (aka) joint venture type of marketing opportunity.
Let’s take two sample (typical) offline small business owners. One owns two local car washes and the other owns a successful crystal shop, located inside of one the towns most popular two level malls.
Now at first glance, you’ve probably already concluded that particular marketing strategy, directly involves the crystal shop owner and the car washer owner. Well, you’re partially correct. It actually involves the actual corporation that owns the mall (or malls) and the car washer owner and let’s also throw in two of the areas top automotive repair business owners, plus (just for good measure) , let’s also include one of the areas top florist owners as well.
It will all make more sense in just a second, so please hold on….
How A Nagging Recession Can Turn A Temporary Business Crisis Into Perpetual Real Business Opportunities!
Now that all of the (primary) first level players have been properly introduced, let’s see how they might all come together, to strategically create some real business opportunities, that didn’t previously exist.
So (how exactly) is a major mall owner going to effectively cross promote with lowly local car washer owner? Elementary Watson Elementary. When consumers drive to a mall, where do they traditional park? Bingo!
And after all that (constant) in and out of city driving, guess what happens to theirs, cars, SUV’s, campers and trucks? That’s right, they get unbelievably dirty.
So the savvy mall owner has hourly employees go around and place 75% off your next car wash ( No strings attached!) coupons on every vehicle parked in their lots! And (just in case) you’re wondering why in the world (the local) car washer owner (with two) locations, would agree to such a generous offer.
Very simply, they’ve already done the math, and they realize their best repeat customers will come back (on average) at least seven more times, within the next thirteen months or less!
So you might say, their greatly discounting that first sale, to net the remaining seven! Plus, any and all add on sales and referrals etc! (In other words, the car washer owner already calculated it’s best repeat customers total lifetime value!)
Real Business Opportunities Are Waiting To Be Discovered And Or Uncovered!
Entrepreneur, here’s where it gets oh so interesting! The savvy corporate mall owner simultaneously approaches every tenant in good standing, about participating in the malls (weekly) cross promotion venture.
Here’s how it works. (Again, the following examples, are strictly for illustration purposes only!) Let’s say the mall currently has 119 paying tenants and 45% of them (or) 53 of them as a practical matter, decide they’d really like to be a part of this powerful weekly co-op type cross promotion venture.
They all agree to spend (more like) invest a mere $50 dollars per week in order to participate or just $200 a month. So $200 dollars a month apiece equals a monthly advertising/marketing budget of $10,600 dollars. ($200 x 53 weekly participants = $10,600 per month.)
And here’s what the mall and local car washer owner does each week. Every week (for the next seven business days) the car washer owner gives each paying customer that comes through their spot, a special VIP discount coupon from one of the participating vendors located in the mall!
And the vendor guarantees the discount will be an exclusive for the car washer owners loyal customer base. In other words, the discount percentage will be something higher than the normal consumer would get from merely clipping a coupon from (either) the local throwaway guide and or newspaper etc.
In part three you will discover the remaining (powerful) three components, to this incredibly brain dead simple, yet mega proven bank account filling marketing strategy!
And hopefully, it spark some ideas on how you begin to systematically spot (and ultimately) capitalize off real business opportunities! See you in part three!
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!
As always, if you got any value out of this post, please Digg or tweet this. Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)
It’s a $97 dollar value and it’s free!
