Who Says Success In Business Automatically Means Outrageously Big Ad Budgets!
In practically any economic environment you can think of. Ultimate long term success in business, is a really good thing, correct? Agreed. But it’s especially fulfilling, when you or your major competitors, are still able to be or remain successful, even though there’s a major health risk crisis associated with it. Don’t you agree? Absolutely
On the surface, especially to those who may not be nearly as marketing savvy as you. They probably think, just because a company or service, has a rather large, traditional type of advertising or promotional budget of some kind. You can’t compete.
And truth told, in the vast majority of cases.This would most definitely be true.However, because both you and some of your most profitable, JV (Joint Venture) and cross promotional partners.
Definitely understand, ‘how to” strategically and inexpensively lead generate. As well as consistently increase your average customer or clients overall, lifetime customer value metrics.
You can systematically grow your business or service, at a geometric pace, as opposed, to the more traditional linear snails pace. Have a closer look and you be the ultimate judge.Fair enough?
So How Is Ultimate Success In Business Consistently Achieved Without An Outrageously Big Advertising Or Promotional Budget!
Great question. And so glad you finally asked. For this particular, hypothetical example. Let’s suppose you’re the owner of an incredibly popular, single location, retail furniture store outlet.
And even though your current, traditional advertising/promotional budget, is nowhere near that of your top three major, local competitors. Guess what? The proven ways, you not only lead generate and consistently create, tons of positive, viral word of mouth and mouse buzz.
For literally pennies on the dollar. Both on and off of social media. Case in point. First of all.
Because there are at least five other, non directly competing businesses, in the mini strip mall, you’re currently located in. And because you and two of the other owners, already know each other. And have been acquaintances, for at least the last five years or so.
Here’s a potential JV/cross promotional arrangement, you initially propose. And your ultimate goal, is to eventually, power network/lead generate and cross promote, with the other four, non directly competing vendors.
So you all simultaneously grow your businesses or services, for literally pennies on the dollar.
If You’re Not Using Outrageously Expensive Traditional Advertising Or Promotional Methods! (How In The World Do You Realistically Expect To Compete!)
Another great question. First of all. Let’s name the four other, (non directly) competing vendors, located in the same mini strip mall as you. They are:
1.) A single location, retail appliance center. 2.) A popular retail jewelry outlet. 3.) An extremely popular, single location, Mom & pop pizza & wing shop. 4.) A popular local dental practice. (With three primary dental care associates, currently working out of this one office.) 5.) An extremely popular, women-s deluxe facial treatment salon.
Here’s what you initially propose with the retail appliance center owner(s.) You will gladly allow the owners of the retail appliance center. To purchase, one of your top end, closeout inventory, Master Deluxe bedroom sets. Which normally retail for at least $8,500 dollars.
Truth told. Your actual hard cost, is only about $3,500- $4,000 dollars or X. So you know,they’ll be constantly spreading the word, to both their personal and professional, inner circle members.Correct? Wouldn’t you?
Are You Starting To Appreciate How potentially Profitable Some Form Of Ethical Bribery Can Be Or Quickly Become!)
Now in exchange for your generosity. The appliance dealers agree. To (either) add one of your best market tested, opt in email marketing -sales- messages, to the appliance dealers, non scheduled, “broadcast” email messages.
Or, they will simply insert, one of your very best, market tested, two sided fliers or index cards,in the bags, of all of their in store customers. As well as the actual deliveries, to their local customers, home or place of business.
Knowing What Your Ideal Prospects And Customers Are Worth To Your Business Or Service Makes It A Whole Easier To Be Both Strategic And Creative With Your Current And Future Marketing Goals!
And part of the reason for your strategic, marketing generosity is. You’ve already run your ideal customers, total lifetime customer value metrics.
And you already know going in. Your ideal customer, give or take, over the next five to seven period. Is easily worth, somewhere in the neighborhood of $1,500- $10,000 dollars in gross front end profits alone.
And here’s the marketing/promotional metrics, you and your marketing/PR (Public Relations) team, is tracking extremely closely. Because your market tested, two sided flier, and or two sided index card.
Is extremely time sensitive. Meaning, the recipients only have 72 or X amount of hours, to respond to your new, first time customer only, gift certificate offer.
And by doing so. If for whatever reasons, they decide to come alone, before the hand written expiration date on your gift certificate expires. The save 15% off their total purchases, up to $500 dollars or X.
However, just for dragging a friend with them, whose at least 18. And provided the gift certificate holder, joins your opt in email/mobile marketing list. They automatically qualify to save a whopping 40 or X% off their very first purchase.
Big Advertising Or Big Promotional Budgets Or Not! (You Can definitely Compete With The Big Boys And Girls In Your Local Market!)
Plus, they automatically get this savings percentage, up to $1,500 dollars. And just for persuading their guest, to also join your opt in email/mobile marketing list.
Your brand new potential first time customer, automatically gets to save an impressive 55 or X% off their very first purchase. Up to $2,500 dollars. And their guest, automatically gets to save 30% off their very first purchase, up to $1,500 or X amount of dollars.
Coming up very shortly in part two. You’ll discover, what else, you or your major competitors, can or definitely should do.Or at least strategically A/B split test.
With the other four, non directly competing vendors.Which will definitely boost, you or your major competitors, long term, front and back end gross profits.
Hopefully it’s definitely starting to become clear, ‘why” long term success in business, doesn’t have to automatically mean, outrageously large advertising or promotional budgets or campaigns.Don’t you agree?
Don’t You Just Love Proving The So Called Experts Or Gurus Wrong!
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