In Part One of this series, we saw how certain savvy entrepreneurs avoid hiring outrageously expensive marketing agencies. Instead, they get their customers and other vendors to gladly help spread the word for them at no additional cost.
In Part Two, you will discover another proven, low-cost, unconventional way of consistently generating potentially profitable, viral, word of mouth and mouse buzz.
A Recap of Part One
In Part One, we looked at a case study in which a savvy, up-and-coming, upscale retail jeweler decides to approach two local vendors. One is a popular hair salon owner, and the other runs a well-known nail salon.
Since both are upscale service providers, their particular clientele is as near a perfect match for the non-directly competing jeweler as they can ever hope to find.
So as you recall from Part One, the savvy jeweler allows both salon owners to purchase three prime pieces of extremely eye-catching jewelry at their actual cost, plus applicable taxes and fees.
Of course, the jeweler’s primary reason for doing so is to have a steadily growing clientele of her own.
The jeweler is able to generate some great positive word of mouth and mouse buzz all without having to constantly spend a proverbial on local radio, TV and newspaper ads.
Your Major Competitors Will Waste Their Money
In order for your major competitors to stay in front of potential first-time customers, they have to spend outrageous amounts of money. For one thing, they need to take out dismally performing quarter page and half page ads in the local paper.
They’ll easily spend another fortune on local radio and TV ads. And the sad part is that a staggering 99% of the audience that routinely gets exposed to their expensive advertising messages is either not currently in that market or doesn’t have the money anyway!
The audience also might currently have no interest in those types of businesses, nor will they have any interest in the foreseeable future. Then all that capital is just as gone. Ouch!
On the other hand, what do you think will happen when these local female vendors attend a family holiday event? You best believe they will be showing off some of their newly acquired jewelry!
Lead Generation Outreach Is a Bargain by Comparison
So here’s the next step in the retail jeweler’s relatively inexpensive marketing strategy. This is a strategy the retailer can and should inexpensively test before diving in head first.
Both the hair salon and nail salon owners have a total of six chairs apiece. They each service about 18,720 local influential women from all walks of life and professions. That means they serve a grand total of 37,440 women annually.
Doesn’t it make perfect economic sense for the savvy jeweler to allow each of the salon owners’ stylists to also purchase at least two pieces of some of her most popular jewelry at their actual hard cost?
So each stylist in both shops will be able to purchase a nice, eye-catching necklace, whose typical retail value doesn’t exceed $500 dollars. They stylists can also purchase some diamond studded earrings whose normal retail value doesn’t exceed $250 dollars a pair.
This way, as they serve their current and first-time customers, they’ll have quite a story to tell, will they not?
And they’ll gladly share their good fortune with their mothers, sisters, sisters-in-laws, friends, relatives and neighbors.
Small Business Doesn’t Mean Small Marketing Results
Now let’s consider the next part of the jeweler’s ongoing marketing strategy. She’s just given several women a great deal on some beautiful jewelry.
The jeweler will supply these women with two-sided business cards. Side A invites the visitors to enter the jeweler’s free monthly drawing for a chance to win a $3,500 dollar diamond studded necklace! The drawing has one guaranteed winner per month. Side B is where both salon owners and each stylist print their first and last names. They should also include the particular shops in which they work.
So the savvy jeweler is systematically building her opt in email/mobile marketing list for pennies on the dollar.
Prioritize Effective Lead Generation and the Rest Is Much Easier
At the end of the month, the jeweler will determine whichever individual stylist has generated the most first-time customer referral business.
The winner automatically gets $500 dollars in free discount gas cards. The second and third runners up automatically win $250 and $150 dollars, respectively, in discount gas cards.
Ladies and gentlemen, is it starting to become crystal clear how entrepreneurs can benefit from strategic word of mouth marketing?
In part three, you’ll discover at least three more proven ways of leveraging WOMM. So please stay tuned!
Please share your extremely valuable comments in the comments section below regarding strategies people can apply to their businesses, products, or services in the next 30 days or less.
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