So What Happens When A New Way Of Thinking Meets Opportunity Half Way?
So (entrepreneur), honestly, when’s the last time you were (either) online and on watching your local or national news and you heard or read about a so called recession, (either) currently or about to take place and thought to yourself, “gee I wonder “how” I’ll benefit from this particular economic opportunity?”
Somehow I suspect, that particular train of thought never crossed your mind correct?No problem and you’re certainly not alone, but rest assured, whenever there appears to be nothing but doom and gloom on the surface.
You can be sure, that underneath all of it, are some tremendous long term possibilities and previously untapped opportunities of all kinds, just waiting to be discovered.
But what’s critically important is, you’ve got to develop the right opportunistic state of mind. The one that basically encourages you to see the possibilities and not just the “it can’t possibly be’s!”
Because it’s the “can do” marketing possibility attitude, that’s definitely going to carry the day!Because remember, throughout history, it’s historically doing the so called economic down turns, economic recessions and or depressions, that some of the greatest windfall profits were actually made!
So How Can This So Called New Way Of Thinking Help You Meet Opportunity Half Way?
Take for ex: the case of the struggling radio stations, (pre Internet BTW) and “how” at one point, when the local (prolonged) recession had practically caused the paid advertising revenue to drop so drastically, the ensuing price wars, practically caused the bankruptcies of several marginal stations.
With gross profit margins so razor thin, the margin of error became minuscule at best.Which meant, (either) some type of dramatic turn around was needed immediately or a whole lot of (dreaded) pink slips were going to have to be passed out!
Now right about now, for the extremely savvy entrepreneurs, (such as yourself) on either side of the aisle, this was and is their chance to step forward and offer a new potential way of dramatically increasing the bottom line!
However, before this much needed cash flow fix can actually take place, a slight mental adjustment or two is needed, otherwise, somewhere down the road, you’ll just end up in a different spot, but unfortunately stuck in the same old boat!
Real Business Opportunities Often Like To Disguise Themselves As Temporary Obstacles!
Entrepreneur, before online marketers willing spent big money driving targeted traffic to their (mobile responsive) WordPress blogs and or websites/sales pages etc; using fancy Pay Per Click (PPC) ad campaigns.
There was a time when some extremely savvy marketers, that just happened to work for (and or) in and around the radio advertising industry.
And they saw the nagging (prolonged) local recessions as a signal to re-create their cash flow mode and (believe it or not), figure out a way to actually leverage the affects of any ongoing recessions, so that companies that previously (either) couldn’t afford radio advertising campaigns.
Or if they were overly skeptical, they could still inexpensively experience and profit from the massive, extremely targeted reach and impact of strategic, local and or national radio advertising campaigns, for literally a fraction of the traditional upfront out of pocket cost!
In fact, this extremely powerful (and oh) so profitable offline marketing technique they pioneered, was the forerunner of what today’s extremely savvy online marketer affectionately refers to as Pay Per Click (PPC) marketing!
Basically, (in a nutshell), here is the block buster marketing technique/tactic, both they and some extremely savvy, highly influential offline newsletter publishers perfected!
Don’t Shy Away From Opportunity Just Because Initially Things Look A Little Bleak!
The radio stations, (especially) the ones with extremely popular nationally syndicated programming. Whenever there was a severe economic recession and conventional- air time- advertising sales began to slow to a crawl.
Instead of being forced to (either) (A.) To dramatically drop their prices and begin an all out price war to the bottom! Or (B.) Run those in house “public service” announcements, in order to fill dead-unsold air time!
Neither option is preferred.But from those rather bleak (traditional choices), rose a third far more preferable choice! And it quickly evolved and came to be referred to as Pay Per Inquiry or PPI! Huh?
And here’s “how” it worked and “why” it was so darn effective and extremely profitable, to the entrepreneurs that implemented it correctly.
Whenever radio stations with national programs, had unsold air time, they would arrange for some of their most (in demand) advertisers to run ads, and the radio station would use (either) local and or toll free numbers, to code the ads that way they knew going forward, which time slots and products created the most buzz!
And instead of charging these advertisers/vendors for the radio air time, instead they charged X amount, per inquiree they received!
This way,this marketing approach dramatically reduced the advertisers/vendors (traditional) up front out of pocket cost!And the radio still earned a profit, vs frequently running -dead air space filling- public service announcements of some kind!
Initially over time and as (both) the radio stations and newsletter publishers got more and more marketing sophisticated, they started negotiating and earning an extremely lucrative percentage of their back end gross sales volume as well!
In fact, (it’s probably) already dawned on you, that the really savvy radio stations (and offline newsletter publishers alike), would basically allow some of their most popular (and therefore loyal) advertisers to have tons of free – (prime time) unsold ad space air time- up front at little or no upfront cost, in exchange for an extremely lucrative percentage of the back end of some of their gross sales volume!Oh yea!
As opposed to constantly participating in a no win bidding wars with other competing stations!So PPI or Pay Per Inquiree marketing became their way of meeting opportunity half way!
And it’s a darn good thing they did! Don’t you agree? Because it literally generated millions of additional offline revenue, just as online Pay Per Click (PPC) ad campaigns, is currently doing for Internet marketing!
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!
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