How Extremely Savvy Entrepreneurs Make Really Big Money From Their List! Part Two
( And How You Can Too!)
Picking up where you left of in Part One. Your business can and will be light years ahead of your major competitors when you start strategically doing two things.
And rest assured,by systematically implementing these two critically important components, is what continues to separate, most extremely savvy entrepreneurs, from their would be competitors.
And it’s also, how they consistently go about, making a really big splash, in their chosen niche, even if they don’t initially have deep corporate pockets to begin with.
1.) Start systematically building your very own in house list opt in email/mobile marketing list.Or if you primarily market offline, you should definitely start systematically building your offline database.
If you’re temporarily short on creative marketing ideas, then by all means, sponsor a periodic, (weekly or monthly) free drawing of some kind.
Choose your 1st grand prize winner, and immediately notify your other 99% of the runner ups, of their extremely valuable secondary prizes, valued at x.
Joint Ventures Can And Will Dramatically Slash Your Traditional Upfront Advertising Costs!
Here’s the other proven marketing strategy, you definitely should pursue, because doing so, will lower your upfront out of pocket cost, but help you pinpoint your primary target market, for literally pennies on the dollar.
2.) Start strategically using low cost high impact joint ventures, (JV)and or cross promotions to create long term profits for peanuts! Those two simple strategies ( if done correctly and consistently) will put you light years ahead of your major competitors.
As you also previously recall from Part One. You found (after a little practice and negotiation) a small Mom & Pop printer, and a business round table group that meets once a month, and a weekly or monthly publication that sells both classified and or display ads.
Basically your JV proposal included letting these three other cash starved small business owners use your free problem solving info products as either upsell products, in order to induce their customers to spend additional money, in order to receive your special free report or audio products as an added bonus valued at X!
Constantly Develop Your Lead Generation Skills And Everything Else Just Got A Whole Lot Easier!
For ex: suppose the on or offline newsletter/penny saver publication offered your free lead generating special report, or audio product as a valuable free bonus to any first time small business owners or service providers, who upgraded from a one time classified add, to three pre paid classified and or two pre paid display ads etc.
( They’d obviously need to be open to inexpensively testing in order to discover which particular offer consistently produces the most sales.)
The advertiser would receive not only a special price discount incentive for doing so, but (1-3) additional free upsell bonus gifts (valued at X), (which either you) or your marketing savvy JV (joint venture) partners will gladly supply in order to continuously lead generate for peanuts!
Your JV partners will quickly discover they can get direct access to their specific niche market prospect, (lead) and save anywhere from 25-75% off their regular cost to do so!
Which means after (you) or they actually put a pencil to the numbers. They will discover that by allowing their top JV partners to strategically give away some of their very best, market tested how to problem solving info to their valued customer base, they can create a ton of, potential long term repeat business, and strategic alliances for a faction of the traditional upfront cost!
Which also means- that if (on average) they convert 43% (or more) of those new leads into long term repeat customers and or referrals! They can safely afford to allow their JV partners to really become more aggressive with their customer base, by using your free lead generating how to info products to get more money making power testimonials, upsell to more profits etc!
Once You Start Strategically Building Your List… Your Long Term Profit Potential Will Simply Explode!
So just to quickly recap. Let’s suppose that your offline small business round table organization has a newsletter and they sell both classified and display ads. Obviously they could use nice free incentive bonuses to offer to their potential first time and repeat advertisers!
So you arrange for them to offer your free how to (problem solving) lead generating info to their first time and repeat advertisers who either upsell from a one time classified or display add, to a special 3-6 month pre paid advertising special etc.
They could also use it as a free bonus to give to any new guest that attend a meeting and decide to join and pre pay 6-12 months of dues by either cash, credit card or money order!
In other words, as long as they don’t pay by check! They could use your (and other savvy marketers) free info goodies as a free inducement bonus valued at X, to drastically reduce their traditional expenses as a result of receiving bad checks!
Hopefully, no matter what type of business, product or service that you have, you can see how you might apply the exact same concepts to your business in order to strategically grow your bottom line for peanuts!
Meaning- if you drastically reduce your upfront traditional advertising/marketing cost by 25-75%. You could then afford to do the exact same gross amount of business, but you’ll still gross a higher net profit!
Because you lowered your upfront expenses by a whopping 25-75% ! That’s why you simply must learn (and apply) basic proven on and offline marketing principles!
Make Sure That You Start Strategically Using Low Cost High Impact Bounce Back Offers….
As you recall from a previous post. If your struggling cash starved small business is currently (primarily) marketed offline. You must (if you’re) serious about strategically increasing your long term profits, start using high impact proven bounce back offers immediately.
For ex; as you discovered from a previous post. Just for a wildly vivid example. Let’s use Target department stores. On any giving day, a mere 3,000 rabid shoppers pass through the doors per day! (We’re not referring to the holiday shopping season by the way!)
Which means- that as the buyers exist the cash register, they should be given a tiny market tested (business card) size index card that instructs them, that when they return to the store before a specified date and spend at least X amount of dollars, they will receive 10-X % off!
Did you catch that? Because here’s the kicker. Statistically speaking; on average at least 30% of them( or more) just depending on how good the inducement offer is will take you up on it!
So that means in this particular example for illustration purposes only; (900 people) 3,000 x .30% = 900 rabid shoppers ( or more) will quickly return to take you up on your offer and there by strategically increase Targets,Walmart’s, Kmart’s (or your businesses) bottom line! Or your JV partners.
And unlike your misinformed wannabe competitors, you’ll be doing it without spending the traditional 500% on creating new or repeat customers! Simply because you know and understand basic proven marketing strategies!
Once You Start Combining Joint Venture Possibilities With The Capabilities Of The Internet… Your Bank Account Will Strategically Start To Explode! (Like It’s On Steroids!)
Now in closing; let’s take that last example to next level. And hopefully you’ll start to really begin to see and appreciate the big picture. Remember, it’s the overall concepts here that you have to grasp, not the specific examples or the numbers!
Since Target was being used in the original example; let’s continue with them. If Target (or your small business) started strategically offering a market tested (that’s key) bounce back offer, that offers your valued customer, that just invested their hard money in your business!
Some type of market tested incentive (probably a price discount) to induce them to quickly return to your place of business (usually within in five business days or less) and spend more money!
But here’s the kicker; suppose once they return in order to get the discount (provided of course) that they spend a minimum amount of money stated on the index card.
You surprise them by hitting them with yet another proven (even better) upgraded bounce back offer! This really trains them to start systematically returning to your business!
But here’s where it gets extremely interesting. You could start systematizing your list into various segments. One for your men customers and the other for women.
Or Senior citizens, College students, Nurses, Self employed, Newly weds and or whatever your specific business, product or service warrants.
Back to Target for a moment. Suppose every time any customer (but especially) a female purchases any type cosmetic products. Target offered them a special bounce back offer, plus they create a freak-in huge in store sign in the cosmetic department advertising (what else) their monthly free drawing!
The ladies have a chance to win (on a monthly basis) a $10,000.00 dollar Super Model Makeover!
That should strategically build a serious long term list! And you of course you could have 25 really nice secondary prizes and 25 really nice third prizes. They (meaning) Target can easily afford this! Which should create some serious long term word of mouth advertising! ( Don’t you agree?)
Anyway, the real point is, Target could then direct all the entries to their carefully crafted lead capture page.
The women enter the monthly free drawing via Target’s website/lead capture page and now Target can start strategically marketing to them long term via relatively inexpensive email! Kaching!
Once You Start Building An Inexpensive Online List…. Your Long Profits Will Soar!
Just consider this; each month Target selects their 51 winners, One Monthly Grand Prize Winner and 50 secondary winners! Twenty five second prizes and twenty five third prize winners. But here’s where the really long term mega profits begin!
(Note: Of course Target (or you) will be savvy enough to put the video recording of all the winners on a section of their blog/website so that all first time web visitors can see it and they’ll opt in before they leave the site. Yea baby! Anyway….
Target will be contacting all 12-15 million plus names that they’ve accumulated via inexpensive email. Because remember they only have about 2,300 stores Nationwide that are open seven days per week!
So with the simple push of a button ( good old inexpensive email marketing to the rescue) they will contact all of these monthly entries; and guess what? Even though millions of women Nationwide entered the contest.
Only 51 women for that month per store can win! Which means all the other millions of entries will start receiving special Valentine day offers! Wedding Anniversary offers! Special Birthday offers. Mother’s Day offers! Engagement offers! Back to school offers etc!
Can you say kaching?
( FYI: This particular (extremely) profitable use of an offline bounce back offer; is just one simple way to use it. For you paying clients, you’ll discover the # 1 one way that ultimate insiders use bounce back offers to make their cash registers sing!)
The More You Know About Your Valued Customer Base And You Start To Strategically Address Them.. The More Successful And Profitable You Will Become…..
Plus, don’t forget that you can also send out (valuable) brief surveys and questionaires to find out exactly which products or services your prospects are most interested in. And what really turns them off about your company, product or service!
And in what form they most prefer to receive it! Meaning-should you use video, audio or written content!
( Now you know what form to use for maximum impact on your first time visitor. Kaching!)
You also know which companies products or services to approach for extremely lucrative long term Joint Venture projects, if your business doesn’t provide those specific benefits. Hopefully you are beginning to see and appreciate the overall big picture.
You are just barely scratching the surface here.
This proven concept ( meaning bounce back offers) has absolutely nothing to do with Target, Walmart or Kmart per Se!
It’s just that their daily foot traffic is freak-in humongous. And they were used to hopefully demonstrate that if these highly successful mega conglomerates ( with gazillions of dollars to advertise) are still leaving a fortune of unmined long term (back end profits) on the table. What does that say about the rest of us? ( Yours truly included!)
And on that note. Here is:
Your Must Complete Homework Assignment: Two Things.
1.) Figure out how quickly you will apply the bounce back offer to your offline business (by testing) at least
two types of bounce back offers and track your results over the next 60 days. Tweaking (testing/adjusting) it as you go.
And remember, you may also be able to do a JV with another offline small business owner where part of their bounce back offer is to give their returning customers your coupon in order to get them into your business for the very first time.
And you both cross promote or use very lucrative triangulation (meaning ) three companies simultaneously inexpensively cross promoting each other businesses for maximum long term profit creation.
2.) After you decide which two types of bounce back offers to inexpensively test over the next 30-60 days, return to this blog asap and share your findings and best two insights about the pro’s and cons of this process with your fellow wealth builders. This helps build a sustainable and strong long term community of of successful marketers.
Nuff said. Get to it!
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!
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 gross 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!
