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Issue 3
Sunday June 19, 2011





Letter from the Editor

Welcome back to the latest issue of the Shoestring Entrepreneur Newsletter!

Lee and I are excited to have you on board and look forward to a long relationship together.

Each week in the Shoestring Entrepreneur we will give you the latest and best information to start and grow a business for $1,000 or less.

Both Lee and myself, along with our guest panel of writers, started out with very little money, but through hard work, persistence, and solid marketing, built our business to where they are today..

One thing I promise you. There will be zero hype in this newsletter, only solid time-tested, proven methods to market, manage and run your business.

So set back, relax, and get ready to be blown away each and every week with rock-solid, timely, usable content.

In this week's newsletter, I'll share an article titled "If You Can't Track It, It's Not Marketing" which is the third part of my Marketing 101 series.

To your success,
Brian Carson


Marketing 101: If You Can't Track It, It's Not Marketing

by Brian Carson

Image advertising is as worthless as tits on a boar hog.

Sorry about that. I learned that off-color remark from an old Arkansas friend and it kind of stuck with me. I wanted to hammer home the point that image advertising sucks and I found the best approach is to shock your senses.

Madison Avenue and their version of advertising is worthless. All you get from it is wasted dollars and idiots looking to win awards. Never mind the fact you hired them to bring in new customers. They could give two cents in hell for that.

Marketing is truly marketing when you can track it. Marketing that works is marketing that’s measurable, accountable and gets results. Anything less is throwing the baby out with the bath water.

Image advertising is fine for huge corporations with Grand Canyon sized ad budgets like McDonalds, Nike, Microsoft and Wal-Mart. The small business owner doesn’t have that luxury, so every dollar must count.

Brand advertising for the small business owner is marketing suicide. Brand recognition takes time and lots of green, something most of us have few and far between. Social media has helped build small business brands somewhat, but we small business owners need to be targeted and develop laser-like focus with our marketing.

We must aim our offers precisely at those who want them. There is little margin for error so we must test and track our marketing to the nth degree.

We have to know how much it costs to bring in a new customer. The average lifetime value of each new customer and the systems we use to measure our marketing.

Here are more examples of what you should track and measure:

  1. Leads per customer
  2. Cost per lead
  3. What ads are generating the most leads
  4. What ads are generating the most productive leads

It takes some dedication and effort, but it’s worth every ounce of sweat equity and every penny spent. What you track and measure improves and grows. What you neglect decays and dies.

Don’t fall into the trap of the image advertising cult. Demand more of yourself and your business. Track and measure your marketing pieces for steady growth and improvement.


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Social Media Machine

As I said earlier, social media sites like Facbook, LinkedIn and Twitter have helped the small business owner with his branding efforts, but image advertising and brand-building should play second fiddle to what the small business owner really needs.

And what does a small business owner need more than anything?

Cash Flow baby.

A small business, especially in it's infancy stage, needs a steady stream of prospects that become customers and generate cash flow.

Because without sales, there is no revenue. And without steady revenue, there is no business. Learn to marketing and sell first before trying to build your brand.

What is the return on investment (ROI) for your marketing dollars? It doesn’t matter how much you spend as long as what goes in is more than what goes out. If you spend $2 and make $3, you’re doing all right. If you spend $10 and make $2, you need to drop the advertising right now.

Focus on these first. If you do right by your customers and create tremendous value, the word-of-mouth buzz alone will start to build your brand without any effort on your part.

The Strategy of Preeeminence Redux

Last week we talked about the Strategy of Preeminence and why it's a must-do in your business.

The Strategy of Preeminence is putting the needs of the customer ahead of your own. The do unto others Golden Rule of life. Do this, money follows.

All communication must be directed to the customer or client. They don't care about you. They care about what's in it for them.

Create events and experiences that make the customer say wow! Give them a reason to go and spread the good word about you to others. That’s Buzz Marketing in its purest form. Educate your customers and develop long-lasting relationships.

Burn the Strategy of Preeminence into your mind. Live it, breathe it, act it. Build your brand, philosophy and marketing around this concept.

And leave image advertising to the fools on Madison Avenue.

 

Brian Carson

Brian Carson is the president and CEO of the Market Ownership Group. Before founding the Market Ownership Group, a marketing consulting/business coaching company, Brian owned three brick-and-mortar businesses that he ran profitably for over 15 years. Brian sold them off to focus all his attention to the formation of the Market Ownership Group, founded in 2008. Brian has created marketing strategies, done for you marketing materials and given advice in a diverse range of businesses, from restaurants to barber shops to online only businesses to small retail stores, and financial advisors. If you would like to grow your business to new levels of profit and growth, or if you need help starting a business from scratch, email the Market Ownership Group at bricar@marketownership.com.

 

The Brian and Lee Show

On this week's episode of THE BRIAN AND LEE SHOW, Brian and Lee interview entrepreneur, author, and relationship expert Tony Gaskin Jr. At only 27, he has already appeared on the Oprah and Tyra Banks show, started his own production company and has inked a deal with a major televsion network to begin shooting pilots for his own projects. He also has over 100k followers on twitter. His clients include, Tyrese, Kandi Burress, and NBA star John Wall

 

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Using these seven principles will open up a new understanding of how the world works, and give a person the tools to take control of his or her own destiny.To learn what these principles are...Click Here.


 

Brian and Lee Resources

Copyright 2011 The Brian and Lee Show and the Market Ownership Group. All Rights Reserved.