Let me tell you about an email I received the other day from one extremely skeptical customer.
Recently, I sent out a post about how to generate multiple streams of customers. The logic being if one marketing strategy falls over you have other ways to generate new business.
But the reply I got back was anything but convinced, with one guy wondering what planet I was from. And questioning my perspective of reality.
His belief was that my strategies cost heaps of money and don’t tap into your total market. And then he said there wasn’t a form of media which reached 20% of his population. And suggested I must be a lunatic to suggest you use them all.
Fair enough - everyone is entitled to their opinion. And I figured there might be one or two other people out there who felt the same, (hey, even my wife questions my
sanity!) so thought I’d take a moment to answer these questions in detail.
1. They cost a lot of money: No, they don’t. I can test most strategies quite cheaply.
Cost to send 1,000 faxes: less than $200 Cost to distribute 1,000 flyers: less than $200 Cost to test google adwords: less than $100 Cost to test an email joint venture: $0 Cost to test a referral program: less than $1 per existing customer Cost to test a newspaper ad: a few hundred dollars.
The bottom line is this stuff doesn’t cost a lot to test. The trick is to try it out once… see if it works… and then dump it if it doesn’t, or keep doing it over and over again if it does.
The risk/return ratio is huge. If you find something which works, you can use it over and over and over again and earn tens… even hundreds of thousands of dollars as a result. If it doesn’t work, you blow a few hundred dollars. Even if you strike out 9 out of 10 times, you are still on a winner if you follow this system.
2. They won’t even reach 20% of my population
Who cares? It doesn’t matter what percentage of your population they reach. All that matters is your return on investment. If you’re a hairdresser who lived in a town with 100,000 people in it, I think you’d be very happy to get even 1% of your population. % of population means nothing - return on investment means everything.
3. Small businesses have the problem of limited financial resources, limited human resources and deal with media who don’t care what results they get
So if you have any other questions or concerns, please send them through as I’d be more than happy to provide further clarification where needed.