Wanna Know How To Get The Word Out Without Risking A Fortune?
When you or your major competitors initially look around. It seems like consistently or systematically getting the word out can be or quickly become a rather expensive proposition, does it not? Well if you’re not careful or creative.
Before you or your major competitors realize it. An awful lot of money will have gone out the door. And not nearly as much will have come in. So it’s definitely in your best interest to “discover” how to get the the word out.
And not have almost emptied your bank account in order to do so. In fact even if you’re totally convinced your traditional current advertising or promotional budget is not nearly enough in order to be or relatively quickly become competitive.
More than likely this is when and where you or your major competitors need to be or become slightly more creative with your front end advertising approach.
So Who Else Wants To Know How To Build Brand Equity Which Far Out Lasts Your Traditional Advertising Campaigns?
First before diving in feet first. Think about two non directly competing profit seeking entrepreneurs. Who are constantly investing their extremely hard earned money on outrageously expensive traditional advertising campaigns. One is a single location, non franchised retail furniture store.
And the other is a local building contractor, who sells blueprints and also builds single family homes to buyers specific wants and desires.
And they’ve both blown a fortune on those dismally performing full and half page ads in both local newspapers and relevant magazines. Every lead they generate which converts into a first time paying customer. Actually cost them or you so much per lead, correct?
And since the vast majority of the newspaper readers are not interested in “what” you and I or your major competitors are promoting at any given time. You and I still have paid for the wasted circulation, right?
And the same basic concept applies to potentially expensive local 30-90 second prime time radio or TV ads, correct? Which means by the time you finish reading or re-reading this single blog post. A ton of non directly competing vendors will have invested their money on not exactly cheap local prime time radio or TV ads.
And you and several others didn’t see or hear them. But the money is still gone.
Entrepreneur Just Because They’re Your Ad Dollars Doesn’t Mean They Can’t Work Extremely Hard For You And Other Non Directly Competing Vendors!
So imagine you or your major competitors inexpensively testing the following potential marketing strategies or tactics. Let’s say your single location, non franchised retail furniture stores ideal customer currently has a total lifetime customer value metric.
Somewhere in the range of $350- $8,500 dollars. Give or take over the next five to seven year period. And by using these market tested, non traditional lead generation strategies and tactics.
Typically about 70-80% of your gross front end revenue is profit. As opposed to it being the reverse prior to you or your major competitors consistently implementing these non traditional strategies.
So you or one of your major competitors make the following initial offer to this local builder. Whenever they mail any first class mail to either their current, future or past customers or inquirers etc.
You want them to include one of your best market tested, extremely time sensitive offers. Say what? And as long as your piggyback insert does one of three things. You’ll gladly compensate the builder on an upward sliding scale.
1.) First: As long as your extremely time sensitive offer generates at least X number of first time customers. Regardless of “how” much they actually spend on their very first purchase with you.
You’ll gladly pay the builders current ad for the next month. Huh? Because you’re banking on systematically generating massive profits from the long term back end of your sales funnel.
Don’t Get Overly Speculative On The Initial Front End Of Your Sales Funnel! (Until After You’ve Systematically Tested And Confirmed You’ve Got An Incredibly Lucrative Back End!)
2.) Second: Any time they don’t reach a certain pre set customer acquisition figure within a given time frame. Then you or your major competitors simply pay them X% of your total gross front end revenue generated. Again with you or your major competitors keeping 100% of any and all generated long term back end revenue. (And rest assured there will definitely be some.)
3.) Third: Any time your piggyback offers generate over a certain gross front end figure. Like say over $30,000 dollars or X. You automatically bump their front end referral fee percentage from 25-40% or X to X.
And entrepreneur if you’re smart. Option # three or something similar should always be your long term goal. Because the more they make on the initial front end. The more long term marketing leverage you’ll create on your back end. Don’t you agree?
Are you truly starting to appreciate how to get the word out. Without constantly risking a fortune?
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below)
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