So after reading part one of this ongoing series, has it dawned on you, how some incredibly savvy entrepreneurs, make very good use of, and profit handsomely, from the marketing concept, often referred to simply as ‘triangulation?’
I sincerely hope so. Because in essence, this proven concept, is nothing than more, than three or more reputable companies, service providers and or startup entrepreneurs etc.
Strategically playing off of, and or leveraging each others various assets. And doing in so in a way, which mutually benefits every one involved.
Sometimes, in the more complex arrangements, you’ll see four or five non directly competing companies involved.
Either way, ‘triangulation’ is definitely worth investing your time and or resources in order to explore the many untapped opportunities and or marketing possibilities.
Why Should A Hand Full Of Extremely Savvy Entrepreneurs Be The Only Ones Who Continuously Benefit From Creating Their Very Own Massive Lists?
As you previously learned in part one, (at least) three local non directly competing businesses, decided to actively participate, in a three way resource sharing arrangement, often referred to as ‘triangulation.’
However, don’t forget, ‘triangulation’ arrangements, typically involve at least three non directly competing vendors, but can often involve more.
Just depending on the short and long term goals of each participant.In this particular case, the three non directly competing business owners, are local vendors. The master (or) main business at the top of the triangle, typically is the one, (either) providing all, and or most of the initial upfront funding, for the arrangement.
And the bottom two participants, are typically cross promoting each other two.So as you recall, there is a local upscale jeweler at the top of the triangle, an upscale, local women-s clothing/ boutique shop, and an upscale bakery, located in a popular mini mall, in a really nice area of town.
These Type Of Extended Joint Venture Arrangements Are Ideal Situations For Effective Lead Generating Opportunities!
Before diving in, stop and consider this.Let’s say the bakery store owner(s), are pretty astute marketers in their own right.
So they initially approach the upscale jeweler, with the following marketing proposition. They will offer a free monthly drawing, for the local small business owners, service providers and or startup entrepreneurs only.
And each month, one local business will be selected, to receive $75 dollars worth of gourmet baked goods, (and or once a month), or whatever they can get the jeweler to agree to finance.
And the jeweler will in essence, finance (sponsor) the drawing behind the scenes. But here’s why the bakery store owners are proposing such an arrangement.
They want the jeweler to provide this husband & wife team, $3,500 hundred (or X dollars) worth of eye catching bling each!At the jeweler actual hard cost plus any & all applicable taxes & fees etc.
And in order to pay for it, each runner up, to the free drawing,will receive one of the extremely time sensitive secondary prizes,which is a VIP discount coupon, for brand new first time customers only, to save 50 ( or %) off their very first purchase from the jeweler.Courtesy of the bakery.
Savvy Entrepreneurs Know There’s More Than One Way To Hit It Out Of The Park!
If the baker already has their very own, state of the art WordPress site, and are able to capture email/mobile database addresses. They will direct their customers, (via) a really big neon sign, to head over to their separate lead capture page.
If they don’t currently have a WordPress website, then they’ll simply have their business owner customers, to place their business card in the giant fish bowl, located somewhere near their cash register.
And if need be, the jeweler can pay college students, to call all the runner ups each month, to inform them, they have 72 hours, to claim their three extremely valuable secondary prizes, valued at X.
Effective Lead Generation Strategies Can Often Dramatically Lower Your Cost To Produce First Time Customers!
And since at least 60% of the bakeries customers are women under the age of 65. And there just happens to be an extremely popular women-s boutique shop, located in the same mini mall as the bakery.
And several of the female employees, including the owner of the bakeries wife, often shop at the boutique.
The bakery owners offer the boutique owner(s) to participant in the ‘triangulation’ marketing arrangement.
Now each month, as the 1st grand prize winner, along with the other 99% of the runner ups, come in to claim their secondary prizes.
The bakeries staff, will provide the women, with special laminated, two sided index cards, which entitle the ladies, to save X % off, at the bakery for the next year, plus get (either) a free bagel, large coffee or tea,or one large donut, on their birthday at the bakery.
That Goodness Savvy Small Business Owners And Or Service Provider Are Not Bound By Tradition!
All they do is provide, the day and month they were born, not the year! And they also save X % off at the women-s boutique shop for a whole year, and side “B” of the card, invites the ladies to enter the jewelers free monthly drawing, for their chance to win a beautiful, $2,500-$3,500 dollar diamond studded necklace.
(Plus, maybe the savvy boutique store owner will start sponsoring their very own monthly/quarterly free drawings!)
This way, the jeweler starts building their very own opt in email/mobile marketing list.An remember, because the jewelers ideal customer, has a total lifetime customer value of (at least) $15,000 dollars, over the next five to seven years.
The jeweler is more than happy to finance this type of non traditional marketing activity. But the $64,000 dollar question is, are you finally starting to appreciate, how some extremely savvy entrepreneurs, (who are certainly no smarter than you!), are able to systematically create massive lists, (both) on or offline, and profit handsomely 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.