Have you heard, and are you currently familiar with the marketing term ‘preeminence?’
It’s a really fancy way of saying, you do something, or give the perception of doing something first in your particular niche and or sub niche.
And every entrepreneur and or major competitor, who comes behind you, unless they somehow do it a gazillion times better.
You’re business, service and or product, is still perceived or recognized to be the first, (and therefore) the best to have done so.
Pretty cool distinction, right? It’s not often you can generate and or find yourself, in a position, to take advantage of preeminence, but when you can -ladies & gentlemen-, it makes for one heck of a potentially profitable marketing strategy,as you are about to discover.
And remember, you don’t have to always be first, just being perceived as one of the first to do something fairly meaningful to or for your target audience, which makes a big marketing splash.
Often times,just the fact of you doing so, is more than enough, to create and maintain, some bank account filling, positive word of mouth and mouse buzz.
For years and years to come. And best part is, doing so may actually cost far less, than any formal PR and or promotional campaigns typically would.
So What Proven Marketing Strategy Can You implement Which helps You Compete With Your Better Funded Major Competitors.
Let’s say you -and two other partners- currently run two successful retail jewelry outlets, in your local area. And two of your major competitors, pretty much dominate, the local prime time radio, TV and Sunday newspapers, with their constant barrage of various types of corporate ads.
And of course they’re outrageously expensive, so you don’t want to throw away your monthly ad budget, trying to -in vain-, to go head to head with them.
Still, you’re always on the lookout, for some battlefield tested ways, of getting in front of some very influential people, and leveraging their constantly growing influence, in order to generate more positive word of mouth and mouse referral business.For virtually pennies on the dollar.
Your Current Entrepreneurial Skills Can And Definitely Will Help You Open Previously Closed Marketing Doors Of Opportunity!
For ex: since you’ve joined your local chamber of commerce, and attended their monthly meetings, at least 75% of the time or more.
You kinda have a much better idea, who the top CPA’s, Attorneys, CFP’s and commercial and residential real estate brokers are.
So you approach one of the fairly established, (and or) up and coming CPA firms about possibly becoming a client.And you find out they are considering, sponsoring eight hour workshops, once every quarter, (every 90 days or so.)
And they basically do a Q & A session for about 2-3 hours, and the rest of the workshop, is primarily devoted to showing their small to mid size business owner/service provider clientele, ‘how’ to maximize (both) their tax savings, and how to make sure their holding their business and or personal properties/assets, are currently being held in the most advantageous corporate structures legal.
Being A Savvy Entrepreneur Means Learning How To Serve Your Target Market Better Than Your Major Competitors Do!
And since you also target the exact same groups, and you’re non directly competing with either the CPA, CFP and or law firm. Here’s what you initially propose, as a way of getting indirectly in front of the same group of local business owners, and their immediate, (personal and professional) circle of influence.
Since the jewelers ideal customer, currently has a total lifetime customer value of at least $15,000 dollars (give or take), over the next five to seven years. And because their net -before taxes of course-, is about 67%.($15,000 x .67% = $10,500 dollars.)
This means, each brand new first time customer,(on average) represents about $10,500 dollars each! Which basically means ladies & gentlemen, there is a ton of gross spread, for the jeweler (or you) to get creative with, in order to generate and maintain, a steady flow of potential, brand new first time customers.Right?
And here’s an initial marketing strategy, for them to inexpensively test,track and tweak.
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You offer to sponsor (finance) a really fancy gourmet style lunch, for the CPA’s quarterly 8 hour Q & A events.Which means, you’ll search and discover, which local catering firm or firms, is absolutely considered , the very best, or one of the very best gourmet catering firms in town.
And you’ll gladly pay their fee, to service a group of 15 to 40, local small to mid sized, small business owners, and or service providers,who attend the CPA or Accountants or CFP’s quarterly event.
Plus, near the end of the event, since your jewelry firm is the major (and or only) sponsor (financier) of the event.Because if need be, you can also pay for-both- the cost to rent the room for the day as well. And save the up an coming CPA and or CFP, an additional $350-$500 dollars for the room!
As well as, pay for the three quarter, to half a page ads, the CPA runs in the local, weekly throwaway papers, about three weeks before the scheduled event.
All told, let’s say it cost you, upfront about $2,350 dollars, or 22 percent of the gross profit of your very first customer! ($2,350/$10,500 = .22 x 100 = 22%.)
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Near the end of the event, the CPA firm, make their attendees aware of a special one time raffle event, they can participate in right then and then. They will present an overhead picture on their screen, of the jewelers lead capture page address.
Which offers a chance to win a beautiful, $3,500 diamond studded necklace for the special lady in their life! And it will only cost them a one time entry fee of just $250 dollars (or X)!
And all the runners ups, who are now on the jewelers opt in email list as well, (), they automatically get, an extremely time sensitive, brand new first time customer only discount gift certificate.
See the screenshot image just below, of the sample lead capture page, which was created, in all of twenty minutes, using my paid email service provider of choice, Awebers rather basic, lead capture page editing software.
In parts two (and beyond), we’ll delve even further into this process of preeminence. But for now, are you starting to appreciate, ‘how’ the process of preeminence, is a potentially profitable marketing strategy, for a lo of profit seeking entrepreneurs? Say yes! Great! see you in just a little bit in part, okay?
P.S. Please list at least two simple spin off concepts (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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