The $100 Million Dollar Advertising

Does Good Location Still Matter?

According to research, nearly 80% of businesses close within their first 5 years. Surprisingly, this often has nothing to do with the quality of their offerings. The primary reason businesses shut down is their location. Obviously, if no one knows you’re there, they won’t come in to visit. However, it’s extremely pricey to be in a prime location.

The recent pandemic caused millions of businesses to close, even those in great locations. While many took a massive hit, some seized the opportunity to grow faster than before.

How can you make sure people know where you are, even if you don’t have the best location? Or if you do have a great location but can’t build a strong customer base?

The answer is to have a strong online presence, which is ten times cheaper and has a high success rate. Building a social media following is hugely important in today’s marketplace. Businesses, especially, live or die by their online reputation.

The Value of Your Customer

Now let me ask you a question: do you think your business could get in front of 100,000+ people repeatedly, who have shown interest in your concept and live within a 3-mile radius of your location? What do you think is the likelihood of even 1% of those people (worst case scenario) coming to your business?

What if we could retarget those thousands of people each month with ads to make them loyal customers? Imagine having thousands of customers subscribed to your business on messenger, allowing you to broadcast offers or promotions to all of them in less than a second. Would that increase your business?

Effective Marketing Strategies

Applying an effective marketing strategy that predictably brings in new and repeat customers is the tactic used by industry winners like McDonald's, Domino's, and other successful private businesses.

Turning a Stranger into a Customer

In a world where a bad Yelp review or poor online presence can cause a business to shut down, you need to pay attention to your social audience.

However, it isn’t enough to just create and post regularly on various platforms. In 2012, Facebook introduced a policy called “pay to play.” You have to pay Facebook to show your offers and posts to people who have liked your page or are interested in your concept.

I’m not suggesting you start boosting posts on Facebook, advertise without a system, or hire an agency. Think of Facebook as a huge ocean (with over 2 billion active users per month). It has all kinds of fishes, sharks, and pearls.

If you blindly aim for your target in this ocean, you might encounter sharks that could sweep away your entire business. However, you could be profitable if you know the art of consistently finding pearls in this ocean.

Supporting the Business Industry

Businesses are the backbone of the economy, employing about one in ten working Americans. Let's transform the business industry into an Amazonian empire where businesses are not dependent on physical or popular locations. They can have thousands of customers and sell their offerings like Amazon.

        Strategy for being unique in your industry:

Every Great strategy has 3 characteristics which make a business unique and creates exceptional value curve 

• Focus 

A company's strategic profile or value curve should show it. For example, focusing on speed, friendly service and frequent time to time departures; Southwest airline destroyed its competition and won customers. As a business, you must focus on your few special products/services.

• Divergence

When a company's strategy is formed reactively as it tries to keep up with its competition, it loses its uniqueness. By applying the four actions of eliminating, reducing, raising and creating can bring your business uniqueness and a huge value curve.

Eliminate: Which of the factors industry takes for granted should be eliminated?

Reduce: Which factors should be reduced well below the industry's standard?

Raise: Which factors should be raised well above the industryś standard?

Create: Which factors should be created that the industry has never offered?

               An example would be of a circus company [Cirque du Soleil]

  Eliminated: Star performers, Animal shows, Aisle concession sales, multiple show arenas.

Reduced: Fun, Humor, Thrill and danger

Raised: price and unique venue

Created: Theme, Refined environment, multiple productions, Artistic music, and dance.

• Compelling Tagline
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    A good strategy has a clear-cut and compelling tagline. ¨The speed of a plane at the price of a car whenever you need it." That's the tagline of southwest airlines. A good tagline must not only deliver a clear message but also advertise an offering truthfully, or else customers will lose trust and interest.