For just a moment imagine what starts systematically happening when one non directly competing vendor starts power networking, (aka)) (joint Venturing) with other non directly competing vendors.
Both of whom share a mutual audience just for different reasons. Entrepreneur all of this ongoing word of mouth and mouse activity does some serious and potentially profitable brand building as well. Would you not agree?
And while all of this is consistently happening. This is what makes your viral marketing campaigns inevitable not accidental. And potentially extremely profitable, make sense?
Is It Really Worth The Effort To Try And Create Multiple Streams Of Income?
The short answer is it sure is. But from a practical point of view. Entrepreneur you tell me what’s more likely to happen. And keep in mine this totally hypothetical marketing example is strictly for marketing illustration purposes only.
So let’s say there’s a local mini strip mall in your town with a total of seven commercial suites currently available. And five of them are currently occupied.
And the two fairly large sized units have been vacant for just over two years or thereabouts. The good news is, currently four of the remaining five units all have a fairly active women’s customer base.
Because these four businesses or services are. 1.) A popular, non franchised bed & bath business. 2.) A popular, single location hair salon. 3.) An incredibly popular, non franchised deluxe women’s facial treatment center. 4.) And of course the fourth business is you or your major competitors, single location, non franchised retail jewelry.
And more than likely, the other three non directly competing vendors may not fully realize “how” they can each strategically and inexpensively be cross promoting each other for literally pennies on the dollar.
And since you or your major competitors can see this previously untapped goldmine for not only what is. But far more importantly what it can become. It only makes economic sense for you to try and bring this marketing synergy together. For the mutual benefit of all. Don’t you agree?
Entrepreneur What’s A Potential First Time Customer Really Worth To Your Long Term Bottom Line?
Now in order to expand your long term thinking. From a marketing/promotional point of view. Let’s say the fifth business located in this extremely popular mini strip mall, is a single location, non franchised gourmet coffee shop.
And along with some of your areas best tasting gourmet coffee. They also sell other extremely great tasting beverages like, ice tea, cocoa and exotic lemonades.
So in this age of non stop, 24/7 social media marketing/promotions. The gourmet coffee shop made the following, mutually beneficial arrangement with the other four non directly competing vendors.
Every vendor currently located in the mini strip mall. Including their current and future full or part employees/associates. They will be given an Xtra Large “Big Gulp” plastic mug.
And each time they bring it to the gourmet coffee shop. They only pay $1.99 per cup for the beverage of their choice. Where as the general public pays $5.79 for the exact same cup. Say what?
Think they’ll tell a few extremely close siblings, besties, current and future neighbors? Would you? (Me too.)
So What Does This Type Of Non Traditional Power Networking Ultimately Lead To?
For just a second think about the 20-40% of the full and part time employees who for any number of reasons change jobs. Due to simply moving out of the town or city. Or they quit because they found a better paying job. Or they were fired etc.
Even though they may have changed but still leave in the same town or city. Are they still frequently stopping by the gourmet coffee shop? If the answer is yes. Then guess what they’re also doing in terms of talking up the gourmet coffee owners brand? (That’s right?)
First of all ‘what” do you suppose happens when their co-workers or neighbors or besties or siblings, spouses or live insignificant other see their Xtra large, “Big Gulp” plastic mugs? (Bingo.)
At least some of them are gonna wanna know the story, right? And if they too enjoy drinking great tasting beverages like those previously mentioned at an affordable price.
They are definitely wanna know “how” they can get hooked up asap too, right? And so will a certain percentage of their current and future personal and professional inner circle members, agreed?
Hopefully without having to go any further entrepreneur. You or your major competitors are starting to truly appreciate “what” makes your viral marketing campaigns inevitable is not accidental. Don’t you agree?
(Extra special note: Merry Christmas to those of you in the United States who are celebrating. And no matter what part of the world you happen to be currently located in. The very best to you and yours this holiday season and beyond.)
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below)
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Mark this is a great point you make. All of the creating and connecting work you put in creates a viral online presence, guaranteed.
Ryan
You definitely know of what you speak coach. LOL!
Because your efforts over the years have proved beyond
a doubt.
Once you start giving and stop stressing over what you think
you deserve in return.
The positive powers of leverage start turning in your favor in a major way.
And you start consistently experiencing far more upside leverage than
you can ever hope for.
Thanks so much for taking the time to drop by and share some pearls
of in the trenches real world wisdom.
It’s always anticipated and greatly appreciated.