How The Right Marketing Ideas For Small Business Owners Can Potentially Pay Off!
(Especially If You Don’t Want To Continuously Waste a Fortune On Outrageously Expensive Traditional Ad Campaigns!)
When’s the last time you ran any type of paid online ad campaign? Did you happen to notice which overall direction ad costs are steadily going?
Of course you’re targeting your ideal audience as much as possible, right? This is why it’s even more critically important for you to embrace some proven marketing ideas for small business or service providers. Don’t you agree?
This way you can systematically expand your viral marketing exposure. For literally pennies on the dollar. And who isn’t up for that?
Unfortunately Successfully Growing Your Business Or Service Takes More Than Just Extremely Hard Work!
Ladies & gentlemen take a look at the two extremely hard working individuals in the featured, (royalty free stock photo) image. The sad fact is. No matter how hard they physically work. And no matter “how” many hours they (or you!) work per day.
They’re not or systematically generating very little bank account filling marketing leverage. Which means they or you are constantly working extremely hard.
But still systematically leaving a ton of money on the table. Money which can and definitely should be reinvested back into their/ your business, service, modern, (but not necessarily expensive!) technology.
Increased salaries, more money to invest in strategically and relatively inexpensively generating all important first time front end customers etc. (Click the image directly below to hear the entire fast paced episode.)
How The Right Marketing Ideas For Small Business Owners Can Potentially Pay Off!
You Should Definitely Start Leveraging Your Various Assets And Or Resources!
Strictly for hypothetical marketing illustration purposes only. As local customers come and go in their non franchised bakery business. The extremely hard working owner(s) may not realize or appreciate just yet.
How potentially valuable their current and future customers as well as current or future employees and vendors are, to other non directly competing vendors.
Say for example. A local, non franchised retail appliance center owner. They routinely pay for outrageously expensive ad campaigns to generate first time customers. Do they not?
Which means they may be spending, (not necessarily investing!) anywhere from $400 – $625 per lead. (Possibly more whenever they advertise via, outrageously expensive local primetime radio or TV etc.)
And let’s say the retailers ideal customer has a total lifetime customer value metric of $11,000 – $20,000 dollars or X to X. Give or take over the next 5-7 year period.
Once You Know What A Customer Or Client Is Worth To You Or A Non Directly Competing Competitor! (You Can Be Or Become Very Strategic With Your Marketing And Or Promoting!)
Do you agree? Even if the retailer invests anywhere from $400 – $625 dollars or more for their all important first time customers. Since they predictably yield anywhere from $11,000 – $20,000 dollars or more.
Over a 5 – 7 year period. (Netting anywhere from 55-63%.) So would it not make economic sense. If the retailer paid the extremely hard working bakery owners anywhere from $100 – $250 dollars per lead max.
Even at the highest referral fee of $250 dollars per lead converted to a paying customer. The retailer is still saving $375 dollars per paying customer. On a customer which typically cost them $625 dollars. Minus $250 equals a savings per customer of what cadets? 😀
Just Because The Leads Are The Same! (Doesn’t Automatically Mean They Necessarily Cost The Same Amount Of Money To Initially Generate!)
And on a $400 dollar lead converted into a paying customer. They’re still saving $150 dollars per lead/customer. ($400 – $250 = $150 dollars savings.) If their various local ad campaigns.
Typically average 400 leads per year which typically cost the retailer $625 dollars each or more. Before utilizing their local JV (Joint Venture) revenue share arrangement with the local bakery owner(s.)
Those 400 or X number of leads would normally cost the retailer a cool $250,000 dollars per year. (400 X $625 = $250,000 dollars.)
After the JV arrangement, these exact same 400 or X number of leads per year. Now only cost the retailer $50,000 dollars. A pretty substantial savings, correct? 😎
It Definitely Makes Sense To Systematically Leverage Your Current And Future Customers!
Think about the financial position of the non franchised retailer. They can literally gross the exact same amount as last year. But this year they saved an impressive $187,500 dollars. 😎
They can use those savings to grow their business in many ways. And by the same token. The non franchised bakery just added an additional $50,000 dollars or X gross to their bottom line. (200 leads per year X $250 dollars = $50,000 dollars in additional gross income.)
It’s now the bakery owners choice to invest 20 or X% of the $50,000 dollar gross. And use it to ethically bribe their best customers into:
A.) Systematically spending more money per visit.
B.) Dragging guests with them to you or your major competitors store who are at least 18. And be rewarded, (ethically bribed!) for doing so. 😀
C.) Persuaded to join you or your major competitors opt in email list. This way they or you can inexpensively keep in touch with your subscribers.
Start Looking Around And Keep Your Marketing Ears Or Eyes Open!
And “whose” to say. Both profit seeking entrepreneurs can’t. Or won’t form this exact same potentially profitable arrangement with other local, non directly competing vendors. 😎
Hopefully you can see and are starting to better appreciate the long term marketing possibilities. 😎 You don’t need to get fancy or overly techie. Don’t you agree?
If so, it’s definitely time to start systematically implementing some proven marketing ideas for small business owners or service providers? Don’t you agree?
Just Get The Ball Rolling! (And Steadily Make Your Strategic Tweaks As You Go!)
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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Extremely important note: And if by chance, you happen to know any of the lesser known podcasters, (or radio show host) who also target small business owners, service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly to me or vice versa! Thanks!
(And be sure you head over to Spotify.com and setup your free account. This way you can listen to my podcast “The Marketing Minute” and leave me a greatly appreciated 5 star review. Provided you honestly feel it warrants it. Thanks!)
(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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And help you master your effective communication in marketing skills.(No matter what your particular niche market is.) It’s a $97 dollar value and it’s FREE! Please note some links on this page are affiliate (income producing) links.
