Entrepreneur as you previously discovered in part two about this ongoing series about how the right market tested marketing ideas can and will systematically multiply your results by a whopping 300% to 500% or more!
Hopefully, we’ve put that “just can’t be done” type of mindset to bed already!
But in this third leg of the installment, I’d like to point out at least three more potential ways that our (hypothetical) superstar pop star marketer/entrepreneur, might be able to strategically cash in, by (first) pro-actively and aggressively building that all important on or offline database.
And then merely matching up products and services from other savvy non competitive marketers, that best mirror the wants and desires of their fanatical fans/subscribers etc.
That’s why I needed to share these next three battlefield tested strategies in a separate post. Because (unfortunately) these next three particular (so often) overlooked potential long term money making marketing strategies, are simply icing on the cake!
How To Make Sure Your Current Marketing Ideas Multiply Your Long Term Profits By At Least 300% To 500% Or More!
First of all, as you recall from our previous first two post. Our hypothetical pop stars (either) Justin Timberlake and or Beyonce were busily going about (aggressively) building their all important database. And that included (both) their on and offline opportunities.
So just to quickly recap: Every time they made either a national television appearance and or they appeared on any radio stations. They would drive tons of fans to their WordPress blog and or website and encouraged (make that!) ethically bribed them to enter their free monthly drawing for a chance to win $25,000 dollars in cash! (Or X!)
With at least one guaranteed grand prize winner, every month that they’re out on tour! And during the intermission of every live event, they’d make sure to flash their web address on a big screen, so the fans at the event could be sure and enter for a chance to win $10,000 in cash, just for being at the live event!
And with all this extremely savvy and (oh so) aggressive pro-active list building activity going on. We said (more like) made up the fact, that after their 18 -24 month world tour! They now had a fabulously receptive opt in email (and or mobile marketing) list of a whopping 7.5 million of the faithful! (or whatever their actual number turned out to be.)
So here’s three more incredibly simple ways to monetize their lists! And create some truly passive ongoing recurring (residual) income in the process!
(FYI: Keep in mind, what’s really important here is for you to totally understand the overall marketing concepts and strategies that are trying to be conveyed. Don’t focus on the actual numbers in the examples. Because it’s not about the actual numbers! It’s the concept!)
1.) Passive monetization strategy # one: Entrepreneur, there’s an old line in a pop song that says, “make it easy on yourself!” Meaning: Beyonce or Justin (or superstar pop star X) should immediately turn their opt in list over to a major list broker and be more than content to simply collect .25-.50 cents a name, every time their lists gets rented! Hello!
(I’ll let you do the math!)
2.) Passive monetization strategy # two: Next: what about this next (passive income generating) marketing strategy. Find out which non competitive marketers really want to access your list and merely charge them one dollar for every click on their link! Whenever you add their links in one of your email messages!
(And Justin or Beyonce) simply goes on the radio and announces that whoever purchases their latest offer (that was sent to them via email), they’re automatically entered into a free drawing for a chance to win $10,000 dollars! But before they can purchase anything, they’ve got to click on the link! Bingo!
If just 30% of 7.5 million opt in subscribers click on the link, that’s a mere 2.25 million clicks! Or two million two hundred and fifty thousand clicks! And at one dollar per click! Well, I think you can see how potentially profitable that type of strategy could be!
Owning Your List Puts You In The Drivers Seat!
3.) Passive monetization strategy # three: Now let’s say that they sell their hard cover book via their email list (or a physical CD etc.) They place one of their best market tested inserts inside their CD, DVD or book etc.
Again, if the other JV (joint venture partner) that piggybacks inside their CD, pays just one dollar per lead! Justin or Beyonce (potentially) earn millions more in passive income!
Is that too cool or what? And again, the main catalyst to all these (hypothetical passive back end income producing profits) is the fact they they aggressively built their opt in list first and foremost!
And then all of their additional creative marketing ideas were implemented. And because it’s their list, they’re free to pursue other potentially viable money making opportunities! Don’t you agree?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Digg or tweet this. Thanks!
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Inspirational as always Mark. While I “get” the dollars and sense opportunities in your first 2 ideas, I’m afraid anything to do with sharing my list is off limits. Thanks to some well known self-help “gurus” failing on a rather grand scale in recent years it’s hard enough these days to build trust in the area of personal development! The least we can promise our followers is not to share their information.
But I do like your point about JV partnerships and that is something I definitely plan to pursue with my next book because it’s about resilience for entrepreneurs.
As always thanks for the motivation!
Marquita Herald recently posted…Understanding Who You Really Are
Welcome to the club!LOL!
You already know about my ordeal with a rather well known guru!
So I’m definitely with you! And yo make a great point! You can spend an enormous amount
of time building trust among your subscribers a few mishaps out of your control can all
but destroy and greatly damage it!
So I completely understand! Thanks for sharing your your real world
advice and for your continuous support!
Both are greatly appreciated! I was very sad to see that you’d left B3,! But you’ve got to do what
makes the most sense for you!
So I definitely understand! But as I mentioned on Google Plus,I’m definitely going to keep
reading/studying and commenting on your blog!
I left Sue a message, M for the life of me, I can’t find the join button!LOL!
That’s why I haven’t officially joined the community yet!
Hi, Mark,
Great article. I was not familiar with Ryan Lee, so thanks for the introduction – watched his video, and he was full of energy and knowledgeable also.
Gotta say, I’m very protective of my list, like a mother bear protecting her cubs, so dunno about some of the passive monetization methods you mention. However, love the piggyback ideas for marketing. Solid, creative way, which is always refreshing.
Yes, I couldn’t agree more! 🙂 Aggressively building an opt in list first and foremost is what we all should be focusing on.
I need to constantly be reminding myself and putting systems in place for me to keep this on the front line of action tracks.
Thanks for such a thought-provoking article and will be sharing with friends.
– Carol
Carol Amato recently posted…Forum Marketing? It Works If You Do It Smart
Awesome Carol!
And truly great advice! Thanks! Even though I’ve only been following your proven advice for
about the last year or so.
Somehow I seriously doubt you’d ever need any type of reminders on how to keep
doing exactly what you need to do, in order to keep being profitable!LOL!
Because it’s obviously that you’ve clearly mastered all the “must do” basic proven fundamentals!
As far as Coach Ryan Lee “Mr. seven figures per moth” goes. I’ve had the extreme pleasure of speaking to him to both
over the phone and on skype!
The guy truly is instant “optimism and passion” no kidding! And he’s shared some of his proven real world business know how with me!
I only mention that because technically I’m not one of his paid students and or customers or clients yet!LOL!
But I most definitely like and admire his “get out there and quit making excuses and get it done now” sort of teaching style!
He most definitely rocks in my book!
But I also said that to say this; I’m definitely going to start highlighting other spot on instructors videos (such as yourself!)
and featuring them in my blog post!
Sort of like dropping their links in your blog post. So if you happen to return you may see one of
your videos being showcased!LOL!
Thanks for dropping by and sharing your extremely valuable real world insights! I definitely appreciate it!
Continued success!
Your third strategy is actually a pretty good one.
When applied to online marketing space, simply identify a few people who are selling digital products in your niche that will compliment your product.
Then you can contact the sellers and ask them to put a banner for your product on their thank you pages. Thus your ad is now being shown to proven buyers.
The owner of the product is happy because he’s getting commission on the sales, and your happy because you didn’t have to go out and find buyers with their credit cards already out.
Clint Butler recently posted…Top 10 Social Media News Topic Pages On Scoop.it
Fabulous insights Clint! (Thanks!)
It looks like your being a active member of the B3 community is already
paying dividends!
And let’s face it, any half way serious entrepreneur/marketer with a semi qualified opt in list
on or offline data base of 25,000 or more.
Will not have to look too hard or very long for
And like you pointed out, it’s simply a win/win situation for every one concerned!
That probably explains why you eagerly see so many non competitive (savvy) marketers,that wish to do some type of
JV/affiliate and or strategic alliance of some kind!
And they strategically leverage each others “thank you” pages, by targeting each others proven buyers!
Just like you pointed out! Thanks for providing some powerful (real world) insights! I definitely appreciate it!