So as you previously discovered in part one of this ongoing series about, the three potentially profitable marketing lessons, you can and definitely should have learned from the recent Floyd “Money” Mayweather vs Manny “The Beast” Pacquia mega buck generating championship-super- fight.
Just as is the case with championship boxing mega super fights, some of the of most profitable product launches, typically have three distinct phases from start to finish.
Basically, as you recall from part one, (A.) Phase one is the all important build up (and or) the “hype” phase where the product creators and or all of their assorted joint venture and or affiliate promoters etc, do everything within their legal and moral power, to get us all worked up, before the big day actually arrives!
And you remember (vividly) “how” that phase of the formula goes, right? Your email inbox is literally bombarded non stop with any and every type of battlefield tested buying “trigger” known to mankind, in order to convince us to be ready to “buy” , once the big day “finally” arrives!
And then we head (with a full head of marketing steam no less) to all important phase two!
So What Are The Three Extremely Powerful Marketing Lessons That Can And Definitely Should Be Learned From The Recent Mayweather VS Pacquiao Championship Super Fight?
Now, the next part or (B.) Phase two, also more affectionately referred to as “The Event” itself. This is where the product launchers (and their affiliates and or JV partners etc;) get to see (monetarily speaking), just “how” effective all of their battlefield tested buying “triggers” have succeeded in convincing us to part with our hard earned money!
Ah yes, this phase is also more commonly referred to as “the conversion” phase of the product launch formula. And “finally”, once all the initial smoke clears clears.
We have “what’s” typically referred to as the “post launch” (after the sales event) phase!Or (3.) Phase three.
This is where they literally try (with their words), to reach out from your computer screen and motivate you with their last minute exit bonus offers, (which) mind you, are not quite as good as their initial “fast buyers decision bonuses,” they tried to initially entice you/us with!
But still, they make one last major push for those inevitable “last minute” sales that typically come through, right before that strategically placed time time clock strikes zero!Sound familiar?
But Let’s Not Overlook These Proven Marketing Gems Either!
As was also mentioned in part one. Typically, one person in the group is in charge of actually ordering the Pay Per View (PPV) event. And let’s say (just to play with some numbers,) so this example is a little more real. Say this particular super fight cost a totally respectable $59.95.
And there were at least twelve of us that (temporarily) made ourselves comfortable at a mutual friends home (and or apartment) for at least the next four hours or so.
And since we each contributed $10 apiece, that’s a grand total of $120 dollars. And that went to paying whomever’s spouse, (live in significant other) and or girlfriend handled that night’s additional cooking duties! Gotta have that homemade Lasagna you know!
Plus, it also paid for that night’s premium beer(s), pizza with various-hotly contested- toppings, wings, dips, chips and of course hot wings too! And while it’s probably not totally obvious, in that last description of events.
There in lies another tried and true (blue collar) marketing strategy.Huh? Co-op marketing entrepreneur. For ex: let’s say one of the (annual) big time expo’s of some kind, is about to hold it’s annual event.
And booths typically run anywhere from a low $7,500 to $25,000 dollars each. Just depending on exactly what you need and or prefer etc.
But (truth told), a nice middle of the road one for $15,000 dollars (give or take) will do nicely. The challenge being, your average small business owner and or Mom & Pop service provider, may not want to be on the hook for the entire $15,000 dollar (and or X dollar amount) investment, right? You are correct- da- moon-doe!
Entrepreneur Don’t Get Fancy Just Get Busy!
So “what” one of the more marketing savvier one’s may do, is find themselves two more co-op marketing partners, to share in the cost of a single booth.
And everybody (in this particular case only), invests $5,000 dollars or (X amount of dollars) each. And one company attends the actual show and rents the booth, but employs a couple of really strategic marketing ploys at the event itself.
(1.) First, they hold some type of market tested “free drawing” (of some kind) at their actual booth, in order to strategically list build, (hopefully) an extremely targeted list. Since (one can only) reasonably presume, that if you’re attending one of these paid expos, you’re a serious, semi qualified prospect.
(2.) Second: They take (say) an additional $1,000 – $1,500 dollars and purchase (either) $20 dollars gas cards and or $20 dollar gift certificates to some of the most popular stores and or restaurants in the local area, and simply pass them out to the first X number of people that approach their booth!
And Always Think Of Some Simple Ways To Consistently Generate Positive Word Of Mouth And Mouse Buzz!
Think of the right on the spot (positive), on and offline word of mouth & mouse, (aka) social media marketing buzz, these type of proven marketing strategies will generate! (Long after the actual expo event is over!)
Which means others will surely approach your booth as well! Which also increases your chances of them entering you free drawing. Bingo! And the three of you (which are non competitive) to each other, simply jointly own the leads that enter the drawing (and either) decide up front to follow up separately or follow up as cross promoters and or joint venture partners etc.
In any event, hopefully you can see and appreciate”how” these type of proven marketing strategies can and definitely should be (not only) learned, but directly applied, as a result of watching the recent Mayweather vs Pacquiao championship super fight! Any questions?
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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Hi Mark,
I, too, dislike boxing but was curious regarding what lessons one could learn from it. My favorite is phase two because I love product launches and also love observing others launching their products.
Have a great weekend!
Rachel Lavern recently posted…We are Natural Creators
Thanks Rachel!
So glad to see you back!And without a doubt, your typical product launch
offers a ton of extremely practical marketing lessons!
Thanks so much for stopping by and sharing your thoughts! Much appreciated!
Mark Newsome recently posted…Three All Too Common Internet Marketing Mistakes Far Too Many Entrepreneurs Make!Part Three
Not a fan of boxing but was just curious what lessons could be learnt from it. Thanks for that analogy, makes it very clear how marketing works more or less in the same way. Thanks Mark.
Siphosith recently posted…Using WordPress SEO Plugin by Yoast Doesn’t Have To Be Hard
Absolutely Siphosith!
And as you so wisely observed and pointed out, the overall concepts are
pretty much the same from industry to industry!
Obviously there are slight tweaks and variations here and there!But as long as you
understand the proven fundamentals, you can pretty much apply and customize the basics to practically any
business situation!
Thanks so much for stopping by!I definitely appreciate your continuous support!
Mark Newsome recently posted…So Entrepreneur What’s The Real Reason You Still Haven’t Built Your Very Own WordPress Blog Yet?