This Is Why You’re Usually Better Off Converting Expensive Advertising Costs Into Your Marketing Budget!
You know it really wouldn’t be quite as wasteful if you or your major competitors at least partially based your potentially expensive advertising costs on ‘what” your first time customer or first time client was or is actually worth to your business, service or practice.
because at least you’ve had some reasonable chance of recovering some or all of your initial front end spending. But when you just randomly grab numbers out of the air.
And use them as a basis for “what” to spend. You usually end up financially upside down. And almost can’t recover. And the more you spend the deeper the hole gets.
And this of course quickly puts a ton of unwanted pressure on other more profitable parts of your business or service. And this stress has and will continue to be one of the main reasons partially successful business, solid partnerships and previously marriages.
Either get severely strained or ruined altogether. And surely you and I want no parts of that, correct?
Who Says Successfully Marketing Your Business Or Service Automatically Means Outrageously Expensive Ad Campaigns?
For this incredibly simple example. Which as always is strictly hypothetically for marketing illustration purposes only. Let’s do a sort of side by side comparison (if you will!) of two fairly successful, non franchised retail jewelry store businesses.
One (business owner “A” absolutely loves going the outrageously expensive traditional route. Which explains “why” they’re currently paying anywhere from a staggering $25,000 – $40,000 dollars a month on those dismally performing local billboard ad campaigns alone.
You know the one’s I’m referring to, right? The ones you and I pass by and truth told. basically don’t even or barely notice. But you’ve never paid close enough attention to them.
To the point those billboards, including the ones on the side of local buses or on the tops of cabs. Caused you to either physically go to the store or visit their website. And yet in the face of these dismal results month after month. Retail jewelry store business owner(s) “A” keep renewing their monthly billboard ad campaign(s.)
On the other hand retail jewelry store business owner “B” is a whole lot more marketing savvy. And they’re far more interested in strategically converting those outrageously expensive advertising costs into an effective lead generation campaign. Which not only consistently generates a ton of ongoing first and long term repeat customers for literally pennies on the dollar.
But their proven, non traditional marketing/promotional process also consistently generates a ton of positive, (not to mention!) viral word of mouth and mouse buzz.
Cheer Up Entrepreneur Your Positive Word Of Mouth And Mouse Goodwill Ambassadors Are About To Do You Or Your Major Competitors A Solid!
So imagine (if you dare!) to seriously consider ‘how’ the following, non traditional lead generation strategy will ultimately play out. Remembering of course at least one of your local main competitors currently spends -each month- between $25,000 – $40,000 dollars on outrageously expensive, dismally performing local billboard ad campaigns alone.
So you’ll initially test your strategy with $20,000 dollars or X. And here’s ‘how” your brain dead strategy works. Each day let’s say your local female mail carrier comes in and drops off your mail. And since she’s been on this particular route for the last 36 months, 9three years. and counting.)
The two of you have literally been on a first name basis for years. And during today’s standard small talk. You ask for her brutally honest opinion. And quickly show her an absolutely eye catching pair of diamond studded earrings.
Which usually retail for at least $650 dollars a pair or X. (Of course truth told your actual hard cost is about half. And sometimes even less.) You ask “if’ she’d like to know “how” she can either purchase a pair for your actual hard cost of X.
Or ultimately get a pair or something similar to them for free. Of course she’s all ears and wants to know “what’s” the catch? Which is to be expected, right?
Consistently Matching The Right Offer With The Right Audience Usually Means You Or Your Major Competitors Are Definitely On The Road To Some Major Success!
You share with her the brutally honest truth. Which is you want to ethically bribe her so she’ll become a walking/talking billboard for your brand. (For literally years and years to come.) And influence both her current and future co-workers, her professional inner circle. As well as her current and future neighbors, siblings, relatives, besties and in laws etc.
Otherwise known as her personal inner circle. basically as long as she joins and remains an active opt in email subscriber. (Meaning she periodically at least opens some of your email messages.) And when she actually comes to your store in order pay half price for the earrings.
As long as she drags a friend with her whose at least 18. Before the ten or X day expiration date window expires on her extremely time sensitive gift certificate.
She only pays your actual hard cost of X for those earrings. In this particular example this means she only pays $325 dollars. However, the moment she generates just five or X number of first time paying customers for you or your major competitors.
You’ll automatically refund her purchase cost of $325 dollars or X. And the moment she generates an additional 15 first time customers for a grand total of 20.
You or your major competitor9s) will give her an absolutely stunning $2,500 or X dollar diamond studded necklace for free. Any questions on “why” you’re usually much better off strategically converting your potentially expensive advertising costs into non traditional marketing budget?
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