Very often the breakthrough marketing strategy that vaults your business beyond all your competitors can be very simple.
I had a client in New York whose surrounding area suddenly became predominately Asian in its ethnic make up. He had the foresight to put up a Korean language page on his website. (While many Koreans can speak English, far fewer read it well.) By being the only business of his kind in the area with information in Korean, he captured a huge share of this lucrative market while his competitors were sleeping.
Most golf clubs up North hibernate in the winter, doing nothing to stay in touch with their customers while there is snow on the ground. Hence it’s an excellent time for the Legendary entrepreneur to steal large chunks of their business. At one club in Ohio we emailed everyone in the club’s database to receive their first round of golf free after the snow melted. The campaign went viral with almost 19,000 people filling out 22 questions to get a free round of golf. The ten other clubs in the area combined couldn’t come up a database that large or that good and we did it while there was snow on the ground. This one promotion and the huge database it produced set our client up for several years.
Another one of the key strategies I try to employ is forming strategic alliances or affiliate relationships to distribute my clients’ messages to a target market for free. It could be the local dance school or hairdresser promoting a karate school, a major association sponsoring my seminars, or a win-win affiliate email from someone with a good list willing to do it for a share of the profits. You will always win when the prospect group is targeted, the message distribution cost is FREE, and you get a built-in testimonial from the affiliate.
When business is slow, most businesses consider discounting but I have many success stories where I have done just the opposite. For instance, last year we added over a million dollars in income to a horse training business by adding two additional levels of prestige and value at much higher prices.
A small change in marketing strategy, pricing, or packaging can produce amazing financial breakthroughs. Keep experimenting with new marketing strategies.
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