Low Cost Opportunities to Spread Your Message (How to save an arm and a leg)

iStock_000003049742XSmall fineOnce you know who your market is and what you want to tell them, now you have to know how you’re going to reach them in a way that doesn’t cost you an arm and a leg.

There are dozens of different ways to market and promote a product or service. Everything from advertising on radio and television, print, magazines, newspapers of course; and email is great today if you know what you’re doing.

But of all the mediums that are available today, I believe there are two that are the most effective for the least amount of money.

The first one is referral marketing. That’s right, just what it sounds like: people telling other people. Word of mouth is not only extremely inexpensive, but the best part about it is it’s the most credible!

The second one is absolutely critical here: endorsed mailing or joint venture endorsed mailing. Bulk junk mail can cost a freaking fortune to mail out. Instead you partner with someone else who is interested or believes in your product or service. You give them a deal on that product or service, but also use their mailing lists to sell your product or service to their mailing lists with their endorsed approval. That’s not the only way but it just gives you an idea.

The people on the list have already given their interests or trust to your partner, now you have a wider field of people who may trust you too, which for me on one occasion turned out to be a 4% increase in response rates, 20 times more than my original mailing without the joint venture.

Next, I am going to suggest that instead of doing single step marketing you do multi-step marketing! What’s the difference? Single means trying to get them to buy from you on the first date. ‘Multi’ means trying to get them to test you out with very little risk and after they like you going for more. So I believe in not only getting them in the door but doing so in massive quantities.

Finally, there’s a saying: ‘The headaches are in the front end but the money is in the back end’. The most expensive part of any business is getting the customer in the first place. But isn’t that your biggest asset? It’s your current customers!

Once they are in, they know you and they like you. It’s easy to sell to them and offer them more. Your own customer database is the most efficient and effective arena. That is your business. You’re going to make way more money on the back end of what you offer people you already have than the front end of people you’re still trying to get in. Good or good?

Now it’s your turn! What are two or three things you can offer on the front end of a business that are low risk in time and money, and completely outrageous—where people go ‘Is this for real? Wow! I’ve got to try this out!’  Share your thoughts below.