Ladies & gentlemen, did you happen to read my (recent) three part series on why, extremely savvy entrepreneurs such as yourself, really do need to avoid (altogether) outrageously expensive, traditional advertising campaigns.
Because in the end, while the fortune 500 type companies, can easily afford this type of dismally performing approach, to generating brand new first time customers, and or clients etc.
Your typical cash starved, small business owner and or service provider, clearly can not. Outrageously expensive, traditional advertising methods, may well get, and (temporarily) keep your businesses name in front of the general public!
But often in the end, it will do little more, than drain your already, extremely limited financial resources!So rather than going there, let’s look to some proven marketing alternatives, shall we?
So Why In The World Should Extremely Cash Strapped Entrepreneurs Avoid Traditional Advertising Methods Altogether?
So if you read, my three part series, on why some extremely marketing savvy entrepreneurs, don’t waste their time or money, using outrageously expensive advertising methods! But look to some battlefield tested, power marketing techniques, and or strategies instead.
You’ll recall, “how” the main premise of the entire series, is how this extremely marketing savvy, (husband & wife) realtor team, effectively uses their (long established) joint venture, and or cross promotional partners, to constantly generate, some extremely profitable, word of mouth & mouse buzz!Correct?
You’ll discover even more in part four, but for now, let’s (temporarily) reverse course, and look at some of the long term, potential (money making) marketing possibilities, from some of their (long term) JV partners perspective.
Case in point: remember how this extremely marketing savvy, (realtor) power duo, approached their local jeweler, JV partner, and purchased six beautiful pair of diamond studded ladies earrings, which normally retail for $400 dollars a pair! (Or X.)
But they got them for jewelers actual cost of just $135 dollars!And they passed them out to the ladies who attended one of their clients summer cookout events!(See parts one & two of the series for all the particulars!)
Effective Small Business Marketing Strategies Meets The Heck Out Of Traditional Small Business Advertising Strategies!
So you know that made a huge splash with not only those ladies who attended, but the totally unexpected gesture, most certainly impressed the realtors clients as well!Correct?
Now let’s simply reverse things, and pretend it’s the extremely marketing savvy jeweler, who initially approaches the realtors, about sponsoring (financing) a summer barbecue cookout, for one of their major clients, who just closed on a rather expensive, $975,000 dollar home!
But first, since the jewelers want and need, 24/7 walking, talking billboards!They approach the (husband & wife) realtor team, who currently have 15 total agents working for them. Ten are are 100% (commission only) agents and five are currently (just starting out) selling real estate part time.
In any event, all 15 agents, are constantly in the general public’s eye!Right? So the extremely savvy jeweler(s), offers to let all 15 agents, purchase any one piece of jewelry, under $1,500 dollars, at their actual cost! And a second piece, for 50% off the normal retail cost!
Provided they agree to do two incredibly simple things!A.) They have to remain active opt in email/mobile marketing subscriber!That way, it’s far less expensive for the jeweler to periodically send them (extremely time sensitive) “alerts” about closeout liquidation sales events notices!
B.) And they have to agree to pass out ten, extremely extremely time sensitive gift certificates each, to either friends,neighbors, in laws and or extremely close family members etc!Once every 90 days or at least four times per year!
And when do, they automatically qualify, to purchase another piece of jewelry, for $1,500 dollars or less, at the jewelers actual cost, the following year! 😀
Effective Lead Generation Or Extremely Wasteful Advertising Campaigns! (The Choice Is Yours!)
Here’s where and how, this extremely marketing savvy jeweler, takes things to the very next level or two!The jewelers approach the realtors with the following win/win proposition!
When the realtors personally introduce the jewelers to the managing partners of the (high powered) CPA firm, which handles, (both) their estate and income taxes.
The moment the jeweler grosses $25,000 dollars worth of gross business with their firm!The marketing astute jeweler will gladly let the husband and wife realtor team choose, his & her Rolex watches, that normally retail for $2,500 dollars each!
And they will give them to the realtors free! Because in reality, that jeweler realizes only too well!By letting those 45 plus CPA’s purchase any first purchase, for 50% –75% off the normal retail costs, those high income earners will constantly be mingling with the one and two percent income earners!
Does Any Profit Seeking Small Business Owner And Or Service Provider Simply Have Money To Constantly Throw Down The Drain!
Which means, those other high income earners will see (and admire) their newly acquired bling, and most certainly want some of their own!Agreed?
Plus, be far more likely to purchase some for spouses, relatives, colleagues, in laws, and or (live in) significant others!Entrepreneur, can you say kaching?
So the $64,000 dollar question begs asking!Do you prefer outrageously expensive, traditional advertising methods, or some really effective lead generation strategies? Me too!
This is why, semi cash strapped entrepreneurs, definitely should avoid, spending a nickel, on outrageously expensive, traditional advertising and or promotional campaigns! Don’t you agree? 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!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,
because it will help you increase your profits by as much as 25% in the next 90 days or less.
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!
Hi Mark,
When I first started my own business eons ago offline, I learned this kind of valuable lesson. Yes, I was cash strapped, but did something quite similar to this. This kind of marketing is a win win for everyone involved. You don’t need money to make money necessarily. What you do need is a creative mind like the folks you explained above.
Yes…I do pay to play sometimes, but it is always more beneficial when I use those lessons learned when I was cash strapped and apply them. It brings in a more interested audience.
-Donna
Donna Merrill recently posted…Use Your Blogging Skills To Make Money Online
I’m so not surprised to hear that Donna!LOL!
Because when it comes to consistently generating, proven, creative marketing
ideas. strategies and or concepts etc!
I put you right up there with Macygyver Coach!LOL!
Meaning, put you alone in a room, with a ballpoint pen, a bowl of ice cream,
an expired coupon to a local pet store and two tickets the local zoo!
And within three hours or less, you will have completed a simple,
low cost, step by step, 90 day marketing plan, that includes social media as well!
And still have a few dollars left over for a large pizza!LOL!
You are one creative soul!LOL!And I absolutely love treasure hunting your blog posts,
discovering previously untapped creative spins!
Mark Newsome recently posted…How To Avoid A Major Marketing Mistake Tons Of Extremely Savvy Entrepreneurs Make!
Hi Mark,
The problem is that too many business owners still buy into the expensive, low result mass marketing mindset. The even sadder part is that there are still mass marketing companies preying on them to spend money they don’t have under the guise of you can’t make money if you don’t spend money.
While that’s true, there is a difference between being smart and savvy and foolish and broke, or worse out of business.
As you said, it doesn’t benefit a cash-strapped business owner to take a risk that they aren’t prepared for or don’t understand how it all works together.
To compound the problem, there are way too many options and knowing what to do, when to do it and how to do it is simply overwhelming to too many who already feel that marketing is out of their league and it’s just easier to pay someone to do it for them. There is a place for that, but these businesses have to be very careful.
Thanks for sharing your insights Mark!
~ Don Purdum
Don Purdum recently posted…3 Astonishing Ways to Stand Out From Your Competitors and Earn More Business
Isn’t this the truth Don!!
Sadly, even though I realize the incredibly harsh truths you’re sharing,
are not meant to be funny! But they are!LOL!
Because you have so nailed it!I always look to and for your business and real world
wisdom, as the shining beacon of reality based advice!
We’ve both seen it first hand, you obviously, far more than I have, know only too well,
how some of these deep pocketed, rosy picture painting ad agencies, convince unsuspecting
corporate clients, to (not only) consistently part with money they don’t really have!
But then, base their dismal results, on totally inconsequential issues!
Like their corporate image, instead of increased bottom line gross profits!
And they consistently get away with it, and win meaningless industry awards for
doing so!LOL!
Strange indeed!Thank goodness, there are companies such as ours, which don’t
adhere to such misleading propaganda!
Thanks so much for sharing some incredibly powerful insights bud! You just inspired an
additional blog post or two!LOL!
Mark Newsome recently posted…How To Avoid A Major Marketing Mistake Tons Of Extremely Savvy Entrepreneurs Make!