If you don’t know what you’re doing marketing can be a lot of guess work, not to mention a fucking expensive experiment.
So, if you don’t have the budget to throw thousands of dollars on advertising, listen up, because these three tips are the high level secrets to the greatest successes that I’ve ever had when growing my businesses.
There are three things you need to know when it comes to marketing.
Know thy customer
You need to know the profile of your ideal buying customer. What are the buying habits of your top 10 to top 20, even top 500 customers.
Because those buying habits are going to give you insights to be able to execute tip number two.
Look for points of leverage.
Now points of leverage are essentially people that can give you access to more of your high profile, or more of your ideal clients.
Let me give you an example, a few years ago I was working with a beauty therapist. We surveyed her client base and we found out that of her top 500 clients, 400 drove BMWs, Audi’s and Mercedes, so when looking for points of leverage the most obvious thing for us was to approach these people and work out some sort of a deal where they would promote our business to their clients for free.
We ended up giving the car companies gift baskets to their customers each time a car was sold.
And that strategy ended up turning over $360,000 in the first three-and-a-half months, and it cost less than $500 to implement.
Which leads me to step three.
Learn to become a deal maker
So you need to know thy customer – what is the ideal profile of the customer, either present or future?
Then what are the points of leverage? So by looking at those buying habits, who would be able to give you access and leverage to more of those people than what you’re getting right now? Once you have nailed that you’re ready to become a deal maker.
A deal maker is someone who can find those points of leverage and structure a deal where it’s mutually beneficial through reciprocal promotion, profit share, equity or even some kind of a hybrid deal.
These three tips are related to a little strategy called a joint venture. And joint ventures are some of the most powerful ways to grow any business regardless of whatever else you’re doing right now.
I’ve made millions of dollars off joint ventures and am so passionate about what they can do for business.
Marketing doesn’t have to blow the budget. So, if you’re wondering how to reach more people, start a joint venture today.