(And Ramped Up Your Gross Profits From There!)
Fellow profit seeking entrepreneur. Do you currently have a favorite local place where you love to drink great tasting coffee? Or any other great tasting beverages.
(And if you’re not an avid coffee drinker as of yet. That’s perfectly okay.) But hopefully you can still appreciate. The potential long term profit generating dynamics. Which and definitely should flow freely. Starting with a simple cup of coffee. sound a little too far over the top for you?
Just Keep Attempting To Get Better And Better At Effective Lead Generation!
As always, the following marketing examples. Are strictly for hypothetical marketing illustration purposes only. Let’s say your independently owned retail jewelry store. Decides to form a strategic and mutually beneficial Joint Venture/JV collaboration.
With of all local businesses. An extremely reputable, mom & pop bakery. Typically your retail jewelry store. Might expect to invest, (more like waste!) A staggering $40K – $60K per month or more! On those outrageously expensive.
Dismally performing, hit and miss traditional ad campaigns. You know stull like, local 30-60 second prime time radio or TV ads. Or dismally performing, local billboard.
Full or half a page ads in the local throwaway guides etc. And whatever else you care to throw in the mix. Which consistently costs you and or your major competitors a ton of money.
But for the most part. Simply drain your bank account. Because far more constantly goes out. Then consistently comes in. Can anyone else relate? 😀
It’s All In How You Wanna Go About Strategically Scaling Your Growth!
Ladies & gentlemen even if you wanted to slowly dip your creative marketing foot in the water. Let’s say you’ve been routinely spending $50K per month. Of at least some of what was previously mentioned.
You could start relatively small. And invest a mere $5K or just 10% of your typical $50K per month expenditures. In order to inexpensively test. Some non traditional lead generation. First time customer acquisition strategies and tactics.
Imagine the bakery sells an extremely great tasting and popular “Big Gulp” Xtra Large cup of coffee. (And or any Xtra Large beverage of your choice.)
And let’s say they typically sell it for $11.99 per cup or X. But truth told, their actual hard cost. Including the Xtra Large “Big Gulp” plastic cup is only $3.00 or X.
You offer to help them consistently generate a ton of viral, positive word of mouth and mouse buzz. (For literally pennies on the dollar. 😎 You offer to invest initially. In order to test your concept.
Here’s Where And How You Start Systematically Start Separating Yourself From The Pack!
Five thousand or X amount of dollars the following way. Divide their $3 dollar hard cost into your initial $5K investment. And you should get 1,666.67 correct?
Rounded off to 1,666. What you and or your local major competitors are preposing to do. You will buy 1,666 local women. Or X number of local women. An Xtra Large “Big Gulp” beverage of their choice.
And the bakery will sell them at their actual hard cost of $3 dollars per cup or X. These local female customers only pay $3 or X number of dollars.
Instead of $11.99 or X! They’re totally shocked and pleasantly surprised are they not? 😀 If you were a local women who ordered an Xtra Large “Big Gulp” beverage of your choice.
And expected to pay $11.99 or X. And now you discover you only have to pay $3.00 or just the actual hard cost. Wouldn’t that cause you to help spread some positive, viral word of mouth and mouse buzz?
Coming up very shortly in part two. You and or your major competitors will discover even more low cost, marketing possibilities. But for now. Are you starting to better appreciate the long term marketing possibilities.
Which initially spring from a simple cup of coffee. Entrepreneur are you starting to smell the long term marketing possibilities? 😀
You Definitely Don’t Need All Of The Answers Before You Start Moving In The Right Direction!
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!
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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