Buying Referrals: How Savvy Entrepreneurs Are Generating Them Without Asking!
(And How You Can Too!)
So ‘what’ type of really bad word of mouth and or mouse, publicity, do you think, a locally based, high powered lending institution would generate.
If they literally threw a highly respected, elderly couple, (on a fixed income),who had lived in this particular town, for over 40 years.
Who have been extremely active, in various local charities and their particular church, out of their house, simply because, they were unable to repay a really small loan they had taken out on their home, less than ten years ago.
And because their health suddenly took a dramatic turn for the worse, and neither one could no longer work outside their home, and between their social security and disability payments, simply wasn’t enough to pay off this extremely small loan.
(Relatively speaking, versus the current value of their home, which they’ve lived in close to 38 years!)
Can you imagine the avalanche of negative publicity, and non ending public outcry, (of unabashed greed at work!) when this story hits the national consciousness, and almost instantly goes viral all over social media?
Who wants that type of tsunami of negative publicity,hanging over, and or associated with their companies image, right?
On the other hand, what extremely savvy entrepreneur wouldn’t mind buying referrals, and or strategically generating waves of positive word of mouth and or mouse publicity, without ever having to directly ask their customers/clients and or patients for them! Is that not interesting?
So How Are Savvy Entrepreneurs Buying Referrals Without Directly Asking Their Customers For Them? (And How Can You Do It Too?)
For this particular post, consider the following math equation. 8+ 2 = 10 correct? But what about 7+3? Does that not equal 10 as well? You’d better believe it does!
So consider buying referrals, especially for pennies on the dollar, as another proven marketing strategy, for consistently generating some bankable, positive word of mouth and or mouse publicity.
Because when you boil it all down, it’s all pretty much, (conceptually speaking), the same basic concept, right?
So let’s see ‘how’ an extremely popular, local women-s boutique store owner, collaborates and or forms a joint venture (JV) partnership arrangement,(and or) a strategic cross promotional arrangement with an extremely marketing savvy, local jewelry store owner, to systematically generate, tons of positive word of mouse and or mouth referrals, for literally pennies on the dollar.
Without ever having to directly ask their customers for them.Say what? 
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First of all, let’s be crystal clear, as to ‘why’ this local jeweler,(and or) extremely marketing savvy retailer X, would literally leap at the chance to strategically form some type of JV and or cross promotional relationship, with this reputable, upscale, local women-s boutique shop owner.
Primarily, it’s because, the jeweler targets the exact same, higher income earning females, and because their ideal customer, has a current total lifetime customer value metric, of at least $15,000 dollars, over any five to seven year period.
Both vendors, realize and readily appreciate, they can help each other, because they’re not directly competing with one another.Right?
And here’s how they’ll both, initially go about helping each other, without directly stepping on each others toes.
Savvy Entrepreneurs Are Constantly On The Look Out For Some Proven Ways To Generate Better Marketing Results!
Basically here’s how their JV (and or) cross promotional relationship will work. The extremely marketing savvy women-s boutique shop owner(s), will quickly generate a huge, and (probably) extremely responsive opt in email/mobile marketing list, by sponsoring periodic free drawings.
They’ll offer (both) their walk in foot traffic and their online visitors to their state of the art WordPress website and or blog, the chance to enter their monthly free drawing.
And they’ll offer, as the main grand prize, one of their most popular designer hand bags, which normally retails for $750 dollars ( or more! )
In reality, the jeweler is financing (paying for) the popular designer bag, which the boutique owner gladly sells to them at their actual cost!
Strategically Buying Referrals Is Definitely Big Business!
As the faithful, both on and offline, joins the women-s boutique shop owners list in droves, hoping for their chance to win the eye catching designer bag!
Each month,the boutique store owner (and staff), chooses that months grand prize winner and notifies them, plus all the months runner ups, the good and semi good news.
But here’s the very first marketing twist.All the runner ups, are informed, simply by physically coming to the boutique shop, and bringing a friend, 18 and over with them, whose not currently an opt in subscriber of the boutique shop.
They automatically win four incredibly time sensitive secondary prizes valued at X.
1.) Extremely time sensitive secondary prize # one:First and foremost, all the runner ups, receive an extremely time sensitive discount coupon, to save 25 (or X%) off any thing in the boutique shop.But they must do so, before the discount coupon expires.(No really big surprise so far, right?
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2.) Extremely time sensitive secondary prize # two:Next, each runner up can also win a free 16 oz. bottle, of one of the boutique store owners best selling fragrances, provided their guest, also joins the boutique shop owners opt in email/mobile marketing list!(Talk about testing the strength of a friendship!)
3.) Extremely time sensitive secondary prize # three: Here’s the next leg of their long term marketing strategy. Each month,every runner up, who spends at least X, also automatically wins the following, two additional, extremely time sensitive secondary prizes valued at X.
A.) Additional extremely time sensitive secondary prize one: They automatically get the right, to purchase any 64 oz. bottle of perfume of their choice, at the boutique store owners actual cost.
B.) Additional extremely time sensitive secondary prize two: And they also receive, an extremely time sensitive, discount coupon from the extremely marketing savvy jeweler.
Extending Some Really Creative Terms Can Be Or Become A Potentially Profitable Marketing Asset!
First, they’ll save 30% off any purchase, plus, just for bringing a friend, 18 and over, whose not currently one of the jewelers opt in email/mobile marketing subscribers.
They can also purchase a $250 dollar a pair, of diamond studded earrings, for just $90 dollars, plus any & all applicable taxes and or fees etc.Say what?
Plus, when they spend over X, they can also, automatically buy, a $100 dollar charm bracelet, for just $30 more dollars!
Now that’s buying referrals, for literally pennies on the dollar, and the boutique store owner, didn’t directly have to ask for any of them, did they? Any questions? P.S.Now as is customary during this part of our show.
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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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Wow, you’ve really given us something to think about here Mark! Of course, I’m familiar with the concept of working with JV partners, though I’ve only done it a couple of times, but looking the process from the perspective of buying referrals is new and definitely intriguing! Thank you for always challenging us to think bigger!
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Thanks M!
And right back at cha!LOL!
Marketing really is about developing the ability, to change your
current perspective, and to do so, with the end result of better serving your
niche market, better and better!
And thank goodness no matter what your chosen niche and or initial
budget is, there are tons of creative, non expensive ways of doing so!
As always,thanks for your incredibly helpful feedback! I definitely
appreciate it!
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