So Who Doesn’t Want To Extend Your Reach While Steadily Building Your Brand! Part Two
After reading and hopefully re-reading part one of this ongoing series. Can you now better appreciate how you or your major competitors can strategically extend your reach? For literally pennies on the dollar. This is really Good to hear. Because in part two and possibly beyond.
You or your major competitors are about to discover “how to” dive as deeply as you want. And systematically extend your reach, while simultaneously building your brand. Without the use of outrageously expensive, dismally performing traditional ad or promotional campaigns.
And when all is said and done. You or your major competitors will consistently earn higher and higher gross net front and back end profits. Retain a much higher percentage of your ideal customers. Constantly receive far more semi qualified referrals from your existing customers.
And literally become a future magnet for potential JV (Joint Venture) revenue sharing or cross promotional partners. Now what profit seeking entrepreneur can possibly say no to such previously untapped marketing or promotional possibilities?
So How Do You Develop Brand Identity Anyway?
Great question and thanks for asking. Getting back to where part one initially left off. Because the remainder of the theme will most certainly answer all or most of your questions.
As you recall. A local, single location, non franchised retail appliance center. Hopefully for the last time. They invested in a series of 25 local primetime, 30 second radio ads. And each one averaged out to a cost of $1,500 dollars apiece. Remember? (25 x $1,500 dollars each ad equals $37,500 dollars.)
And the campaign generated 57 total customers. Which means for this particular ad campaign only. The retailers initial cost per lead (CPL) was a staggering $657.89. Ouch.
However, the extremely marketing savvy retailer decided to initially offer their profit seeking landscaper and the landscapers current and future staff. The opportunity to earn as much passive income as they’d like. Huh?
Basically the retailer proposed to initially provide both the landscaper and their current and future staff, with some of their very best, extremely time sensitive, market tested gift certificates.
Side (A.) of the gift certificates informs the potential customer to join the retailers opt in email or text message list. For their chance to enter their monthly free drawing. For a shot at winning a $3,000 dollar, deluxe home entertainment system. Huh? And side (B.) informs the potential customer to come to the retailers showroom before the handwritten date on it expires.
They come alone and they only save 10% off their first or next purchase up to $500 dollars. However simply for dragging a friend with them whose at least 18. Before the handwritten expiration date.
They automatically save up to 40 or X% off up to $1,500 dollars.
You Start Proactively Marketing Or Promoting Like This And Your Major Competitors Won’t Have A Clue How You Can Afford To Be So Generous To Your Ideal Prospects And Customers!
Here’s where and “how” it potentially starts to get very interesting. For you and your major competitors. And please keep two critically important figures in mind. Because they’re the primary keys to this entire marketing/long term promotional process.
1.) Critically important marketing key # one: First and foremost. Up until now, this extremely marketing savvy retail appliance dealer had been spending around $37,500 dollars, in order to generate 57 paying customers. At a typical cost per lead (CPL) of a whopping $657.89 dollars. Right?
2.) Critically important marketing key # two: Second. The retail appliance dealers ideal customer currently has a total lifetime customer value metric of somewhere between $250 – $11,000 dollars dollars.
Give or take over the next five to seven year period. So you or your major competitors allow your personal landscaper and their current and future staffers who wish to. To systematically pass out your extremely time sensitive gift certificates to whomever they wish. Huh?
Meaning, their current, future and past neighbors. Best friends, closest relatives, their favorite in laws. Their barber or their spouse or live in significant others hair or nail salon service provider.
Watch How The Long Term Math Strategically Starts To Work In Your Favor!
But before going there. Seriously consider the following, positive word of mouth and mouse generating marketing strategy. The extremely marketing savvy retailer also ethically bribes both the landscaping owner(s) and their current and future staffers.
As long as they become and remain one of your active opt in email or text message subscribers. They all get to purchase a state of the art, 55 inch flat screen TV. At your actual hard cost. Say what?
So think about “how much” constant bragging they’ll be doing, both on and off of social media. To whomever-s in earshot. Correct? So every major holiday, during major sporting events like. The Super Bowl. The NBA or the World Series or major celebrity concerts etc.
Look at all of that continuous, positive, viral word of moth and mouse constantly taking place. But here’s the marketing kicker. Are you sitting down? For the extremely time sensitive gift certificates they pass out which converts into a buyer before the gift certificate expires.
The retail appliance owner initially pays them $50 dollars per lead/customer. Say what? And as soon as they generate their twenty fifth paying customer. Regardless of “how” much each customer initially spends (or get this. ) Never ever returns to spend another dime with that specific retailer.
You Gotta Find A Way To Consistently Ethically Bribe Your Top JV Or Cross Promotional Partners! (Don’t You Agree?)
From their twenty six referral and beyond. They now earn $100 dollars per lead/referral. Huh? Plus every time they generated at least ten referrals per month going forward. They automatically get an additional $100 bonus in local grocery store coupons. Say what?
But let’s quickly do the math. A maximum of $200 dollars per customer, minus their typical cost of $657.89. Means they’re
still ahead by $457.89 per customer, using this non traditional marketing/promotional approach. Correct? ($657.89 – $200 dollars = $457.89.
Now multiply the savings by $407.89. (You’ll discover “why” the additional $50 dollars was deducted in a future blog post, okay?) But for now. A savings of $457.89 per month. Over a 36 month, (three year period) equals a whopping $16, 484 dollars back in their bank account.
And the party hasn’t even really got started. Don’t you agree? My friend, this is “how” you or your major competitors, systematically and strategically extend your reach while simultaneously build your brand. Any questions?
So Are You Gonna Start Extending Your Brand Or Just Keep Increasing Your Traditional Advertising Or Promotional Budget?
P.S. 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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