Sitting here looking at the yachts in the Monaco harbor, each one worth millions more than the next I can’t help wondering how each owner made his money. Having studied the biography’s of hundreds of the world’s most interesting people I suspect that most of these fortunes were fueled by the power of a single great idea!
One of the interesting parts of being a marketing consultant is trying to get people to pay you for great ideas. For while people will gladly pay you for designing stuff, writing stuff or building websites few people truly understand the value of a great idea!
A single great idea can launch any business or turn any business around, but instead of searching for the great idea, most businesses are resigned to looking only at cutting costs and incremental growth at best!
Where are most great ideas found?
1. A change in positioning, going up market, down market or better still finding a USP that no one in your market can touch. The Only Gay Golf Club In a Major City – it’s bold it’s audacious and in a place like San Francisco or Huston, Texas (strangely the second largest gay population in the USA) it would work! With the stroke of a pen, you would instantly have number one positioning, plenty of PR and an excess of potential members.
2. Switch Media from Print to Direct Mail! Although I have built my success on the back of our “Legendary” websites and our social media my most successful campaigns ever have come from direct mail. Few businesses try direct mail because it’s expensive and they have most likely done it in the past and failed but they did it wrong.
In the five years I used direct mail at major resort we produced over four million dollars in sales (More than seven million including onsite spend) from a mailing list that was never larger than 1148 people and at a total cost of less than $100,000 for all the campaigns.
They had tried and failed with direct mail before but they had never tried Thunderbolt Marketing (multiple mailings). This simple change in marketing approach had a massive impact on their business. It’s an approach we have had tremendous success with in selling all kinds of products.
3. Change Pricing- Few people ever consider going up in price, but going up and adding value is almost always more successful than discounting, yet few clubs ever try it! At one club we double the dues and added 198 members by throwing in a bunch of free gifts! Add a lifetime of VIP category to get big buck up front, pay off debit or re-model. Last year I came up with a new pricing plan for my largest client that include one option 300% higher than his current membership options. The result over one million dollars in additional membership income!
4. Change in Sales– The foundation for my first small fortune in the karate business was made on the day I bought my first marketing book! It went into overdrive the day I bought my first sales book and I never looked back! What you and your staff don’t know about selling is most likely killing your business! A single sales book or audio can easily increase you business by 25% or more!
5. Triple or Quadruple Your Prospect List Buy, rent, trade or form alliances with other clubs or businesses to reach more prospects instantly!There is NO quicker way to increase your business than to tap into list of people you know at least play golf, in your area! If you can instantly grow your list from 500 to 5,000 that’s a massive leap. Even just getting another 50 people on your mailing list can be worth several thousand dollars a year!
The better the offer the better the chances they start a relationship with you.
6. Look Out Side Your Industry. The next great idea will most likely be something that you adopt from another industry. All of my financial breakthroughs have come from looking outside my current industry.People in the golf industry all tend to do the same thing, always look to do things differently.
P.S. I am looking to set up some consulting jobs for the Fall. I am tanned, rested and ready to share some great ideas with a handful of motivated people. Call me 352 266 2099 I can turn ANY business around!
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