(And “How” You Can Too!)
By now, you’ve heard the shocking truth, which states a staggering 88% of all brand new (on or offline) startup entrepreneurs, will be out of business, within five short years or less, correct?
And in far too many cases, after you boil it all down, they simply had, more revenue going out, than they did coming in, correct?
In other words, (for any) number of valid, and or invalid reasons, they -unfortunately-, spent retail to generate their -all important-first time customers, patients and or clients etc.
And they consistently sold their extremely valuable products and or services, at bargain basement wholesale rates.
Endless price wars and, (let’s face it), too much inexperience, in the day to day management trenches, ultimately caused their titanic to sink.
In terms of consistently generating, some of their ideal, first time customers, for literally pennies on the dollar!For the right marketing professionals, it’s a piece of cake!
Which means -entrepreneur-, as you save a fortune upfront, you don’t have to initially maximize, your front (and or) long term back end gross profits! Because you’ll be under far less pressure to have to constantly do so!
So How In The World Do Some Extremely Savvy Entrepreneurs Constantly Manage To Create Massive Lists And Profit Wildly As They Do So?
Are you familiar with the little known marketing term ‘triangulation?’ It’s pretty straight forward. Basically, it’s just a fancy way of saying, your typical run of the mill, joint venture (JV) arrangement, and or strategic alliance etc, has at least three major, -non directly – competing players.
Usually, if it’s an offline arrangement, you’ll have your major JV participant-arranger- at the top, and your two lesser shot caller participants, in the two lower legs of the arrangement.(If it helps, think of a triangle diagram.)
Hopefully, this particular post will amply demonstrate to you, ‘how’ and why, you and at least two other -non directly- competing participants, may want to form, a triangulated JV arrangement/strategic alliance of some kind!
Here’s Where Your Carefully Honed Entrepreneurial Skills Can Potentially Pay Off Big Time!
Case in point, let’s take a savvy local jewelry business owner,( and or) major retail appliance owner of some kind. Like a local business, where you buy your computer gizmos, and fancy home entertainment goodies.
And let’s say the extremely marketing savvy jewelers ideal customer, has a total lifetime customer value of $15,000 dollars, over the next five to seven years.
So lets set the stage, with the three, local (non directly competing) vendors, who will be active participants, in this text book example of marketing triangulation.
For this particular example, (the jeweler), since in all likelihood, has the largest front and back end, gross profit margin spreads, in their particular sales funnel.
Which means, they can comfortably afford to invest the most,(in creative ways) in order to consistently generate, the all important first time customer.
That being the case, they will be – the master JV participant/arranger- at the top of the triangle formation.And your other two, non directly competing ‘triangulation’ participants, will be a local upscale bakery and a local upscale women-s boutique shop owner.
(Important note: Each participant was carefully selected, because their upscale customer base,(and their customer bases) ever growing personal and professional inner circles, comprises the perfect target for the extremely marketing savvy jeweler.)
Who Says Really Effective Lead Generation Strategies Have To Be Cut And Dry In Order To Be Extremely Profitable?
So here’s what the marketing savvy jeweler, will propose to the local upscale bakery store owner. Post a really huge sign in their store, promoting a free monthly drawing, for local small business owners, service providers and or startup entrepreneurs only!
And each week, that weeks grand prize winner, wins $75 dollars worth of gourmet donuts & pastries, cakes and great tasting gourmet coffees and or teas etc!And the grand prize business owners will win this for an entire 52 week calendar year! In other words, it’s a $3,900 dollar value! (52 weeks x $75 dollars per week.)
And the business owner is responsible to pay any amount over the $75 dollar credit they will receive each week.
And all they have to do, is provide the name of the person picking up their companies goodies each week, and the bakery will set them aside each week for pickup!
And of course, the bakery will simply supply their businesses market tested lead capture page address on the sign.
This way, they continually build a massive opt in email/mobile list, year round for future marketing purposes.
Savvy Entrepreneurs Love Flying Under The Radar Of Their Watchful Competition!
Since (in reality), the jeweler is the one actually financing the entire marketing arm of this particular strategy.When the person comes in to pick up that weeks goodies, valued at $75 dollars or X.
The bakery store owner, and their carefully trained cashiers, will find out if the person picking up the delivery, is the actual owner or not.
If they are, the bakery store owner(s), and or their carefully trained staff, will hand them a special two sided, direct response type of business card, from the jeweler.
And the card will instruct the business/service provider owner, to go to a special market tested lead capture page website of the jewelers,to enter their name and primary email address.
Then both they, and any one other person they choose,(directly related to or not!) can purchase up to $3,500 dollars worth of jewelry, at the jewelers actual cost!Plus the applicable taxes & fees etc.
In part two, you’ll discover at least three more potentially profitable reasons why, you may want to participant in, your very own version of marketing triangulation!
For now, are you starting to appreciate ‘how’, some extremely savvy entrepreneurs (just like you!) are able to create massive opt in email lists, and profit while they do so! I sincerely hope so!
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 You Definitely Should Become An Entrepreneur!
- Why Small Business Service Providers Need To Develop Good Lead Generation Skills!Part Two
- How Savvy Entrepreneurs Literally Create Money Making Opportunities!
- What If Your Major Competitor Decides To Implement This Proven Marketing Strategy First!Part Four