Under Valued Assets: Here’s A Really Simple Way To Start Monetizing Them!
This statement may or may not seem counter intuitive to you. But if you own or manage a typical mom & pop small business or service. More than likely you have at least a few (here it comes!)under valued assets or resources. (And certainly way underutilized.)
Obviously not the type a potential buyer of your business or service could readily point to on your balance sheet. But you can and should monetize them to their or close to their full earning capacity just the same.
This initial blog post should do very nicely in opening your marketing eyes extremely wide to the long term marketing opportunities and or long term -previously untapped- marketing possibilities. Are you up for that?
You Definitely Don’t Need To rely On Any Type Of Mass Marketing Strategies Or Tactics! (Provided You’ve Got A Proven Process!)
first of all entrepreneur. I hope you/we are in agreement, that previously untapped marketing opportunities and or previously marketing/promotional opportunities of practically any size are literally all over the place.
Which is obviously not to say you and I are tuned in enough to readily spot them. But rest assured they’re all over the place regardless of whether we see or act on them or not.
Case in point. Now that live sporting events such as championship boxing fights are in vogue again. Think about the semi large crowds which enthusiastically pile into a major hotel chain on The Las Vegas strip. Typically whenever one of the major premium channels like HBO (Home Box Office) or Showtime televises such an event.
You and I may see three fights in total. Typically two under card matches. Sometimes the second fight will feature two pretty good and therefore fairly well known fighters.
And then the main event takes place in any given weight class. But typically it’s a championship fight. Think about the all too typical scenario. Fight fans buy their tickets and sort sit through the first two (and in rare cases!) three pre championship matches.
Then they settle in and hope the championship fight meets or exceeds their expectations, right?
So What The Heck Makes The Live Audience At A Championship Fight Such An Under Valued Asset And Or Resources You So Skeptically Ask?
That’s a great question. And so glad you finally decided to ask it entrepreneur. First of all “what” do you readily know about men & women who voluntarily buy ticket9s) to a live boxing match? Whether it’s championship fight or not?
They obviously love sports in general and boxing matches in particular, right? So here’s “how” some extremely marketing savvy entrepreneurs leverage this all too common, extremely under valued asset and or extremely under valued resource.
To start with, “what” if the major hotel chain at least inexpensively tested the following three potentially profitable marketing strategies or tactics. (And simply strategically monitor and adjust as they go. Or conclude the primary marketing/promotional strategy or tactic is a complete bust. And eliminate it altogether.)
1.) Potentially profitable marketing strategy # one: First as soon as the super high rollers begin quickly purchasing the most expensive, first three or four row ring side seats. (Sometimes the known gamblers who have established lines of gambling credits worth six or seven figures obviously get their ring side seats free.)
Barring them, why not give the rest of these avid fight fans two things.
A.) At least $2,500 or X number o dollars in gambling chip credits.
B.) If they’re already staying at the hotel where the fight is being hosted. Let them and their party upgrade to the next most expensive room or suite and save anywhere from 30-60% off. (Say what?)
Hey they’ve not only got the financial means to pay the full rate. But “how” often do you think they tweet or post on their Instagram, Facebook or Linkedin accounts and text fellow colleagues constantly bragging about it?
The More Totally Unexpected Options You Or Your Major Competitors Surprise Them With! (The More Likely They Are To Return And Do More And More Business With You!)
2.) Potentially profitable marketing strategy # two: As long they join your VIP opt in email list for this specific previously untapped marketing opportunity. You or your major competitors give them three or X number of extremely time sensitive gift certificates and or VIP discount coupons.
This way they can not only use one of them. Plus they can give two away to whomever they choose. And they’re good for an entire year before they expire worthless.
(Otherwise if they decide (for whatever reasons!) not to join your opt in email list. They only get one extremely time sensitive gift certificate and it’s only good for the next 90 days or less. This may be more than enough incentive for the majority of them to join this specific list.
3.) Potentially profitable marketing strategy # three: All the other buyers of tickets beyond the first three or four rows. They’ll still have a few things to brag about both on and off of social media.
A.) First: They will all be given a choice of $50 dollars in gambling credit chips. (Which they can obviously only use at the casino which is providing them. Plus they get a voucher for one large glass of beer. Which is an X dollar value.
B.)Second: Provided they join the casino or sponsoring retailers opt in email list as they purchase their ticket(s) to the fight. They automatically get $200 or X amount of dollars in gambling credits. Plus a voucher for one bottle of beer and one glass of premium champagne. An X dollar value.
So you know the tweets, texts, videos, phone calls and selfies will be constantly going, correct? Coming up very shortly in part two. You or your major competitors are about to “discover” how to take the monetizing of these previously under valued assets or resources to the very next level or two. So please stay tuned.
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