In case a person has the capacity to invest millions of dollars and then goes on to pour it into a business, it may manage to build a fruitful enterprise. Similarly, if your company has a large amount of capital to spend on marketing, there is a great possibility of a fruitful result. But where is the genius in this method? And how manages to do it help the individual or business that doesn't have a million dollars to sink in to a start-up business?
Everyone can buy customers given enough money or credit, by spending huge levels of money on advertisements and promotions. Everyone can build their business if given unlimited capital, and many have, using millions of dollars in a few instances, of stockholders' equity in the process. There is however, another strategy to use about marketing your business. It is applicable to businesses with limited capital, and also those that have vast cash reserves and wish to keep to grow. It doesn't require you to spend a bundle, rather it utilizes your information about what motivates people to purchase something or select one product over another.
When you have this knowledge you are able to successfully enter many or even most fields without spending a fortune on advertising. You can call this marketing without money, cheap marketing, marketing on a shoestring, clever marketing, or better yet, it is clearly genius marketing. It is genius marketing undoubtedly, but you don't have to be an Einstein to learn to do it. All you want is willingness to cast aside pre-conceived means of doing business and to check out the examples of others who have achieved their marketing goals without spending a fortune. It comes down to setting aside traditional marketing philosophy and learning a technique that goes far beyond such outdated methods.
Allow me to offer you a typical example of just how easy some of those methods are. I've a tiny story included on my website, the place where a large firm had just spent $110,000 on a three month advertising and marketing campaign, blitzing a particular city in the United States. They did not experience any difference in level of business and actually believe they did not earn an extra dollar from the exercise.
I'd just given a three hour seminar to 2,000 people in the magnificent Hilton Waikoloa on the Big Island in Hawaii. It was 1997, at a 5 day corporate retreat for a major American real-estate group. They certainly were long days and I was heading back again to my suite at about 2:00 a.m. While waiting at the elevator, a very jovial character standing beside me jumped alive with the statement:
'OK Mr. Marketing Guru, I loved your seminar, but when you're so crash hot, what do you think you might do specifically for me, that would make such a positive change in so short a time period?' The elevator doors opened and we got in, and I desired to be brief, as I had been up since 4:00 a.m. He was the managing partner of a big independent legal firm. I asked him three or four pertinent questions in just a couple of minutes. Then I told him that of would give him only one idea in about 30 seconds. I proceeded to tell him that I believed if he could not make an extra $1,000,000 from it within the next 12 months, then he is either inept at his profession, or else I am inept at describing the strategy......... maybe because I am somewhat tired.
He listened intently at what I'd to express which took me about 1 minute, I must admit, because I got so excited at the possibilities because of this firm. Both he and his wife slowly viewed each other and their bottom jaws almost hit the floor. How much can you make from that certain idea Johnny, I asked....... maybe $1,000,000???? He remained silent for an instant, then viewed me and said no---lots significantly more than that! I immediately asked him how much it'd cost to have that extra income. He thought for an instant and said, maybe $2,000. I agreed. We briefly exchanged business cards and the following day arrangements were made to see his offices in Florida for weekly, the following month."
While I finished up implementing a vast array of marketing tools at little or no cost, the main thing was being able to show how this new marketing mindset works פינדרלה. It allows all the staff to have involved and continue implementing their marketing with out me in the office all the time. During the last 25 years I have experienced many businesses go broke simply because they sunk a bundle into advertising campaigns that did not work. My approach is to look at what everyone is performing, and then take action differently. Marketing is not a "campaign" ;.
Marketing is a method of business life.
It is something you do all the time, whether you realize it or not. It's a mindset and it is straightforward once you recognize that. Its lots easier than being forced to regularly sit down and strategize a "campaign", or to spend a fortune on direct mail, or advertising and a cure for the best. Instead of counting on a large budget to have results, you are able to reach your audience without spending anything or by spending very little. This relates to the one-person start-up in addition to to large corporations, which oftentimes needlessly spend their shareholders capital on wasteful marketing schemes.
Just to offer an illustration, you will get tons of free advertising by writing articles linked to your field of activity and publishing them on other websites and in the electronic newsletters of other organizations. Maybe you are a start-up with ten people on your own mailing list, but when you will get your article published on an inventory that has 100,000 readers then your new business will receive a shot in the arm. This gives you substantial credibility that no amount of cash can get, and you gain leverage on both your time and your money. These are two crucial elements to any marketing philosophy, and the first two that I discuss with every single client.
There are certainly a lot of people spruiking marketing materials today, and one of the problems with that is that this information-overload often results in confusion in your brain of the starting entrepreneur. The answer is escape there and do it...... but you do not should do too much. You could identify a hundred different ways to do some marketing, and then wonder the way you take action all. It really seems overwhelming to numerous businesses, particularly new businesses.
You don't! Not at one time anyway.
Just start out with enough that you can manage, given your time and resources. Then as that brings success, do more, and so on. This understanding seems so often to elude some of the very most astute minds in business. I've for a long time shown businesses how to accomplish considerable marketing success by implementing only around they know they could handle, at any one time.