How Some Extremely Savvy Entrepreneurs Still Miss The Boat With Their Ad Dollars!
(How Not To Let This All Too Common Occurrence Happen To You!)
Does this all too common occurrence, really surprise anyone? This being, some extremely savvy entrepreneurs, small business owners and or service providers, simply working way too hard, for the sort of meager, (if any!) results, their gargantuan efforts typically produce.
They work tirelessly in their business, yet not nearly as much, on their business/service, correct?
And the inevitable emotional and financial strains, of slightly and or continuously, being over extended, under financed and constantly under siege, by far better capitalized -major- competitors, both on and offline.
Slowly and methodically, takes their toll. Does any and or, most of this, sound all too horrifyingly familiar?
If it does,thank goodness, it most certainly does not have to be the case, and or the end of the story…
Ever Wonder How And Why Even Some Extremely Savvy Entrepreneurs Often Miss The Boat Big Time With Their Extremely Limited Advertising Dollars?
The primary reasons are, they try to advertise like their extremely resourced challenged small business and or service, is actually a fortune 100-500 type of operation. When clearly, it’s not.
For ex; when your company and or service, has wads of investors cash, you can afford to, waste outrageous sums of money, on dismally performing, so called ‘image advertising’ campaigns.(Even though you really shouldn’t.)
You know the type of extremely wasteful, do nothing and or very little, to improve your bottom line, type of extremely wasteful advertising campaigns, I’m referring to right?
The primary emphasis, (sadly) is on doing nothing more, than consistently padding the pockets, of the fancy ad agencies and or PR firms, which specializes in this type of, totally unaccountable, resource draining approach.
Which puts your companies name out in front of the general, un-targeted public, hoping (in vain!), at some point, they’ll miraculously decide, to do business with you, rather than your major competitors! Good luck with that!
Extremely Successful Entrepreneurs Simply Do Not Have A Fortune To Waste On Non Productive Advertising And Or Promotional Campaigns Of Any Kind!
Case in point; let’s take two, (local) upscale,(extremely popular), women-s clothing and accessories boutique shops. And while they both specialize, in targeting, local women, who routinely earn, high five and six figure a year incomes.
And routinely socialize, with other, highly influential, local women who do so as well. And both ideal female customer clientele, currently have, total lifetime customer value metrics, of $8,000 – $12,000 dollars, (give or take), over the next, five to seven years.
However, for the most part, this is where their similarities end. Because popular women-s boutique (A.), for whatever reasons, has embarked, and -pretty much-, totally committed to, spending outrageous sums of money, on dismally performing,-glitzy- image advertising methods and or campaigns etc.
(And they’ve pretty much abandoned -altogether- the non conventional approach to marketing/ entrepreneurship.)
And while they both have, state of the art WordPress websites, and (believe it or not!), they both, actively use, reputable, paid email service providers, and are extremely active on social media as well!
Their gross profit margins, are as different as night & day! Primarily because,women-s boutique (A.), while they have to constantly spend, staggering 500% more, just to initially generate, semi targeted leads, then constantly have to work twice as hard, trying to convert those leads/prospects, into first time paying customers, and eventually, massive profit building, long term repeat customers.
This is hardly the case, for extremely popular, women-s boutique (B.) As you’re about to discover.
The Better You Get At Profit Producing Lead Generation The Faster And Sooner Your Long Term Profits Will Grow!
First of all, watch how extremely marketing savvy,women-s boutique shop owner (B.), both build their, (extremely valuable!), opt in email/mobile marketing list. And watch for fast, (and relatively inexpensively), they get the word out, about their businesses, and or services etc!
And watch how viral, their positive word of mouth and mouse, social media marketing campaigns go viral! no matter how active, and or inactive, their traditional, social media campaigns are. Say what?
And how, and why their gross front and back end profit margins, are far more lucrative an sustainable, than their cross town competitors is. Plus, how much quicker and lucrative, their long term sales funnels are to build and maintain!
Your Market Tested Lead Generation Strategies Will Definitely Help Put You And Or You Major Competitors Over The Top!
So imagine this (if you would!) In walks, a local female, who currently earns, a high five or six figure a year income. And she (for whatever reasons!) has never set foot, in and or never previously been, to women-s boutique store owner(s) (B.’s) shop before.
But right away, she quickly realizes, she’s definitely in the right place, because, (smack dab!), in the middle of the store, is a huge sign, inviting her to enter their monthly free drawing, for a chance, to win a totally eye catching, designer hand bag! Which normally retails for -anywhere- from $950 -$1,200 dollars!
Does that proven marketing gem work for you too! And she’s immediately told, as long as she spends over $500 dollars today!
Three really cool things automatically happen!
A.) First, she automatically becomes an extremely valued, VIP opt in email/mobile marketing subscriber! And before any items gone on sale to the general -walk in-, and or advertising public!
All the VIP subscribers, get at least a week’s advance notice, un scheduled, ‘broadcast’ / mobile marketing message alert,about any and all upcoming sales and or close out events! Before the general buying public even has a clue!
It Definitely Pays To Develop Your Entrepreneurial Skills! (Don’t You Agree?)
B.) Next, just for spending over $500 dollars (or X amount), their name,(email address), automatically gets entered into the free drawing, a second time!
How’s that for a little, compelling ethical bribe!
C.) And finally, they get to purchase, any extremely popular fragrance, which normally retails, for anywhere, from $195 – $225 dollars a bottle! They get to purchase it, for the boutique shop owners, actual hard cost of just $95 dollars (and or X!)
My friend, which of these two possible marketing approaches, do you honestly think, (long term!), will consistently produce, the most bang for your advertising/marketing buck! You so go that right!
There you you have it! Now, (hopefully) you totally understand, how and why, some extremely savvy, and hard working entrepreneurs, of all shapes and sizes! Totally and consistently miss the boat -big time-, when it comes, to maximizing their advertising dollars! Don’t you agree?
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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