So have you noticed a very interesting (initial growth) pattern, with regards to how a ton of (extremely well intention-ed) start up entrepreneurs, go about aggressively promoting/marketing and or advertising their various products and services, after they’ve received that initial infusion of (IPO) Initial Public Offering investment cash!
Flush with some serious greenbacks, the vast majority of these (soon to be) severely cash strapped start ups, start bombarding the wrong targets, with literally tons of outrageously expensive, traditional advertising campaigns!
They buy (massively expensive,(prime time) radio, TV and or magazine ads! They throw money at (practically) useless billboard ads, they purchase ads on the sides of local buses and cabs etc.
And (sadly) when it’s all said and done, and when they’re literally down to their last few thousands of (aggressively sought after) investor dollars, and right before (they either) file for some form of bankruptcy protection, (from hugely disappointed creditors and initial investors), or close their doors (and or) permanently shut down their web presence, and fade quietly into the night! (Sound familiar?)
They finally start to see the light, with regards to relying heavily on outrageously expensive, glitzy image advertising campaigns, and or promotions! It’s just too bad, they had to learn this incredibly painful lesson, while navigating through an extremely nerve racking bankruptcy!
But let’s see how one of their, (far more) creative counter parts, (takes their infusion of IPO dollars), and goes about creating some extremely (massive) positive word of mouth and mouse publicity!
So How Do Some Extremely Savvy Entrepreneurs Avoid Outrageously Expensive Ad Campaigns Yet Still Create A Ton Of Positive Word Of Mouth And Mouse Publicity?
So one overly aggressive entrepreneurial start up concern, took their huge pile of IPO cash and went buck wild, buying practically any type of traditional advertising medium, no matter “how” hopelessly un targeted it was, and threw money at it, like it was no tomorrow!
And in the end, it cost them ever so dearly!But another extremely savvy start up entrepreneurial concern, they decided to take their initial infusion of (IPO) cash, and go in the opposite direction, with regards to strategically marketing and promoting their women’s wear accessories and top of the line,designer leather hand bags!
And here’s how they got the ball rolling in a major way! First and foremost, they made (darn) sure, the extremely high profile Investment banking firm, (that initially) helped their company go public, which had a mere 150 employees, 65 of whom are women, with mid six to seven figure a year incomes!
They allowed each of those ladies, plus another 200 or so, who are in someway related to them, through in laws, spouses, kids, best friends, neighbors,sisters,nieces, Moms and Grand Moms etc.
(And yes, every secretary in one 21 story building alone, (where the Investment bankers were located),got their choice of one these outrageously expensive, designer leather hand bags, on National Secretaries Day as well!)
They allowed those initial 65 women, plus the spouses of the Investment bankers, and their sisters, daughters and daughter in laws etc.
Guess what they all got that free, on Xmas day, on their birthdays, Valentines Day, and or their wedding anniversaries etc!If you answered, their choice of any one of the companies top of the line, designer leather hand bags, that normally retail for $600 dollars, you are correct da mundo!
And you can bet, these ladies along with daughters, relatives, neighbors and really close friend, had a field day, blowing up the various social media sites, like FB, twitter, Instagram and Pintrest etc!
Who Says Mail Order Companies Are The Only One Capable Of Putting Together Really Effective Lead Generation Campaigns!
So while these high level executives were busy delivering these (beautiful) designer hand bags, gourmet chocolate, flowers and dinner reservations to their loved ones, this savvy start up, also had these very same, (extremely well connected) Investment banker execs, reach out to at least ten of the top four star restaurants, in lower and upper Manhattan!
And they allowed the owners to give away 150 of these bag each, (first) to all of their female staff members, then the first X amount of women that came through the door, whether they were alone or accompanied by a lady friend or man etc.
They all got one of these designer leather bags! And of course, the owners got first choice, to get one for their spouse, daughter(s), 18 and over, sister, sister in law, Mom or Mother and daughter(s)in law etc!
And that’s initially “how” the other far more marketing savvy start up, created an almost instant blitz , and serious (on and offline) word of mouth and mouse blitz!
Because whenever women of means have something of extremely high perceived value, you can bet, all the other ladies want it too! Right?So rather than go with the traditional, ten or twenty million dollar, glitzy ad campaigns!
Instead, they opted for the $50 million dollars worth of (long term), positive word of mouth & mouse publicity generating tsunami!Because you know when this army of (extremely) high profile ladies, hit the local fund raising scene and executive dinner circuit and private home dinner parties etc!
And they’re strutting around with their absolutely beautiful, designer leather hand bags!Inquiring minds are definitely gonna want to know the 411!Don’t you agree?
And please bare in mind entrepreneur, this is only the front end! Part two will reveal the enormous untapped potential of the back end!But for now, suffice it say, extremely savvy entrepreneurs, like start concern number two are probably looking at a much brighter future!
Ya think! Me too!Let’s see “how” and what they do, to put some of their very best marketing efforts on steroids!I’ think you’ll find it quite interesting!See you in just a little bit in part two, okay?Now as is customary during this part of our show.
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