Entrepreneur There’s A Reason Why They Call It Profitable Marketing!
Okay who reading this particular blog post isn’t up for “discovering” some potentially profitable marketing strategies and tactics? Especially “if” you don’t have to consistently write outrageously large checks.
Entrepreneur you attempt to go down the traditional advertising or promotional route. And once the smoke finally clears.
You’ll probably have less money than you originally started out with. And be a little more frustrated and even less clear “how to” actually start turning things around. But rest assured it definitely doesn’t have to be this way. In fact if you’re a traditional mom & pop small business owner or service provider of any kind.
You would be extremely wise to not try and advertise, market, brand or promote your business or service using potentially expensive traditional methods or strategies etc. Say what?
For one thing you and I and a gazillion of others simply can’t afford that incredibly long and drawn out approach. Let the fortune 100 or fortune 500 types use those methods. Because they’ve got access to tons of capital and you and I simply don’t, agreed?
Who Says Building Brand Awareness Can’t Be Both Strategic And Extremely Profitable?
Case in point. Let’s say you’re one of or the senior marketing director for a local, single location, non franchised retail jewelry store.
And up until very recently your company was spending, (not investing!) anywhere from $40,000 – $75,000 dollars a month during the holiday rush season.
On those outrageously expensive, dismally performing local billboard ad campaigns. You know the ones I’m referring to, right? You see them on the tops of local cabs and the sides of local buses or on the local billboards etc.
And at the end of the day very few viable leads from this type of outrageously expensive approach converts into a consistent wave of business. Which is “why” you’ve decided to at least inexpensively test a few of the other non traditional lead generation approaches. Good for you.
Think about where some of your potential high end first time or long term repeat customers may already be hanging out. Like what about a local art show or exhibit. Say what? Consider the undeniable facts for just a second.
If a local woman is more than willing to spend $2,000 or more on a single work of art. Entrepreneur doesn’t that kind of indulgence signal they have discretionary income they’re more than willing to spend on the things they like?
So why not allow the female reps of one of the art shows to wear, (more like showcase!) a pair of your extremely eye catching diamond studded earrings at the highest profile events of the year.
And rest assured while they’re hob knobbing (socializing!) with some of your areas most influential men & women. At least some of these local ladies will definitely not only wanna know where they got their great looking bling? But “how” soon they or someone they love can get hooked up asap too?
And all the reps have to do is pay your actual hard cost for your bling. And they can keep it indefinitely. Say what?
Entrepreneur Thank Goodness There’s More Proven Ways To Allocate Your Marketing Dollars!
It’s a pretty good bet if a local female can afford to spend anywhere from $5,000 – $20,000 dollars for a single painting or a single piece of art work.
They’re probably more than willing to spend $1,200 dollars or actual hard cost for an extremely beautiful diamond studded necklace which typically retails for $2,500- $3,000 dollars or more.
And equally important you know they have local best friends, in laws, neighbors, colleagues or co- workers who can also afford to do so, correct? So “why” not throw in a strategical marketing twist where all they have to do in order to be able to take advantage of your extremely time sensitive offer is.
Simply drag a friend (or whoever!) with them, provided the friend is at least 18, to you or your major competitors showroom. On or before your ten or X day expiration date window expires.
And they join you or your major competitors opt in email list. And they automatically qualify for your bling at these insanely affordable prices. And as long as their guest also joins your opt in email list before they leave the store.
They too get to purchase a pair of extremely great looking diamond studded earrings. Which typically retail for at least $450 or X dollars a pair. But for an extremely limited time they only pay half or your actual hard cost $225 dollars a pair. Say what?
Hopefully you already know and appreciate the type of positive word of mouth and mouse social media tsunami this type of non traditional lead generation strategy will generate, correct?
Any questions about “why” they refer to it as profitable marketing?
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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