Honestly, have you ever personally purchase some type of advertising package, be it for radio TV, local newspaper, magazine, and or online, and received a huge discount for doing so?
And how did things, (profit wise) eventually work out?
The only reason I ask, is because, believe it or not, some extremely savvy entrepreneurs, often receive at least part of their traditional ad campaigns, for some incredibly eye opening discounts.
But that’s not what allows them to create major, last long impressions.
And some of these major players, routinely spend hundreds of thousands or dollars, or tens of millions of dollars annually.
And sadly, at the end of the day, very few consumers, who not already customers, barely remember any of their outrageously expensive, traditional ad campaigns. Is that really the way you want to invest, and or spend, your extremely limited ad dollars? I sincerely hope not…
But what if there were market tested way, for you to invest your extremely limited marketing/promotional dollars, and generate continuous positive word of mouth and mouse buzz. You’d definitely want to know about it, right?
How In The World Do Some Extremely Savvy Entrepreneurs Consistently Generate High quality For Virtually Pennies On The Dollar? (And How Can You Learn To Effectively And Consistently Do It Too?)
Before (attempting) to answer this all too common question. Let’s test your current business and marketing IQ.
First off, (let’s ) say just like the extremely marketing savvy, local jewelry store owner, in our ongoing hypothetical marketing examples.
Your current, ideal customer/client and or patient, also has a total lifetime customer value of $15,000 dollars, over the next five to seven years, give or take.
That being the case, could you afford, (provided you really wanted to!), to invest somewhere between $150 -$650 dollars per lead, and over time, still expect to consistently earn enough of a reasonable gross, front and back end profit in your long term sales funnel, to easily make it worth your while.Is that a yes or a yes?
Successful Entrepreneurs Know And Understand The Major Differences Between Strategically Lowering Cost And Short Sighted Penny Pinching! (Do You?)
(Big hint: If for whatever reasons you answered no, click away asap and get on with living your life, before it’s too late!)
So even if your dismally performing,and outrageously expensive, traditional local radio & TV ad campaigns, generate leads, which routinely cost you $500 upfront, but ultimately resulted in paying customers, and loyal repeat customers who spent somewhere between $2,500 – $4,000 dollars, yet referred an additional three paying customers over the next ten years.
Once you actually put a pencil to it, those outrageously expensive lead generating campaigns, are still probably worth it, correct?
So try this train of thought. Getting back to the previous examples, shared in the earlier installments in this ongoing series. Since the extremely marketing savvy jeweler, is joint venturing and cross promoting, with a local, upscale women-s boutique store owner, because they both -basically- cater to the same high income female earning niche.
And the jeweler is constantly look for some inexpensive, albeit market tested ways, of consistently generating some semi qualified leads,(and positive word of mouth & mouse buzz) for literally pennies on the dollar.
Here’s what they initially propose to the women-s upscale boutique store owner.
Your Highly Developed Entrepreneurial Skills Is The Ladder To Upward Mobility!
They’ll enthusiastically finance, a gourmet catered lunch, once a month (initially), in order to inexpensively test this marketing concept, on the boutique store owners, traditionally slowest day of the month during the summer.
But in order to be sure, the event really accomplishes what it’s supposed to!They will encourage the caterer, to mention it in (both) their tweets, and Instagram/Facebook postings etc; at least three weeks before the live event actually occurs.
Plus, every event the caterer participates in, three weeks before this particular one, they will be allowed to earn credits, by way of passing out some extremely time sensitive discount coupons, from the women-s boutique store.
And every customer of the caterer, can save 25% off their very first purchase, plus receive a free 16 oz. of bottle of one of the boutiques best selling fragrances, provided they bring a friend with them to the live event, whose 18 and over.
Once You Develop Some Effective Lead Generation Strategies Everything Else Starts To Fall Into Place!
Here’s the kicker. (So please pay very close attention.) Since the upscale catering company, will also constantly be involved in their share of corporate breakfast, lunches and dinner events, leading up to the actual date of the women’s boutique event,right?
What better inexpensive way, for (both) the extremely marketing savvy jeweler and women-s boutique store owner(s), to inexpensively get directly in front of their target audience, right?
Therefore the jeweler makes darn sure, all the ladies who (either) work for, and or own or co-own the catering business, has on a pair of beautiful, diamond studded earrings, which normally retail for $350 dollars a pair, and a really nice, diamond studded necklace, which normally retails for at least $1,500 dollars.
The jeweler will gladly sell them at their actual cost, to these walking talking billboards! Even if they have to give these ladies some extremely flexible payment terms, in order to do so.
Your Lead Generating Strategies Don’t Have To Be Over The Top Just Effective!
And the women-s boutique store owner(s), will gladly provide each of these ladies, with a free 32 oz. bottle of their best selling perfume, and the ladies get to choose whatever they want!
Provided, they (either) join the boutique owners snail mail, and or opt in email/mobile marketing list.And wait to you see, ‘what’s’ coming next!
For now, are you starting to appreciate, how some extremely savvy entrepreneurs, (who are certainly no smarter than you!), are consistently able, to generate semi qualified red hot leads, for literally pennies on the dollar! And how you can too?
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 profits by as much as 25% in the next 90 days or less.
- Why More Savvy Small Business Owners Prefer Marketing Strategies Over Advertising!Part Two
- How Savvy Entrepreneurs Drastically Reduce Overhead So They Can Prosper! Part Two
- Do You Think Your Local Jeweler Networks Like This!Part Four
- Who Says Small Marketing Budgets Mean Your Small Business Can’t Make Big Money? Part Four