As an entrepreneur or salesperson, you can’t make sales unless your prospective customers have heard about your business. Successful marketing is one of the most important components of successful businesses.
Join Jay on his latest Black Entrepreneur Blueprint podcast as he discusses and decodes three simple ways to market your business for free and increase your sales.
LISTEN TO THE FULL PODCAST
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 510
Without qualified customers to sell to your business entrepreneurial dreams are dead. Sales is the lifeblood of any business. On today’s show, I’m going to give you three simple ways to market your business that don’t cost you money.
1. Self-Liquidating Offer – A self-liquidating offer is a product or service that pays for its own advertising cost. This means that if it costs you $35 to acquire one customer, each customer acquired in your self-liquidating offer funnel will be worth at least $35.
Example: You run a Facebook ad for a webinar to help business coaches get more clients. On the webinar confirmation page, you make them an offer for $10.00 video training titled “My Business Coaching Funnel That Makes Me $20,000 Per Month.” To help increase the sales and liquidate the cost of getting someone on the webinar, you tell them that this information is touched on in the webinar but because of time constraints, you can’t dive into too much detail about this topic.
2. Owned Media – There are three types of media, Owned media, earned media, and paid media.
Owned media is any property owned and controlled by a brand, such as your email database, blog, website, newsletter, or social media channels (remember, you don’t own social media channels – they are rented and can be taken away). The more owned media channels a business has, the larger its digital footprint, which means more potential reach to customers and followers. Examples of owned media you control would be. Company blog.
Example: My podcast is owned media. I control the content and I’m able to market my products and services for free on my owned media platforms.
Paid media – This type of media is exactly what it sounds like. If a company pays to promote messaging on any external platform, it’s considered paid media.
Earned media – When others spread awareness, news, feedback, or other information about a company, it’s called earned media. The major advantages of earned media are expanded reach and increased credibility, which can be difficult to establish without external influences. Drawbacks include the extensive time and effort involved in gathering data and the potential for negative messaging.
3. Your Own Affiliate Program – Affiliate programs work by allowing individuals or businesses (affiliates) to promote and sell products or services of a company in exchange for a commission on each sale or designated action (like applying for a credit card). The affiliate earns a commission each time someone purchases through the unique affiliate link associated with their recommendation.
Example: You have an online course that teaches people how to start their own e-commerce business that you’re selling for $297. You create an affiliate program that pays your affiliate a 50% commission ($148.50) each time someone enrolls.
Tools to create an affiliate program:
https://osiaffiliate.com/ owned by Arlen Robinson. If you sell online courses, Thinkific.com has an affiliate component built in.
LEARN HOW TO MAKE MONEY WITH AFFILIATE MARKETING, ENROLL IN MY NEW WORKSHOP AT: https://payhip.com/b/PL6lq
