Creative strategy to fill market void.

[sklawllc]

I am about to launch a subscription based business (I know - everyone is doing this). There is a market void right now with the specific consumable product that my subscription business is targeting. I could do a guerrilla marketing campaign to address this market void, but I'm thinking outside the box on this one.

With that being said, I'm thinking of using what I like to call "crowdferrals" to fill this market void. My plan is to source the "crowd" to raise awareness and drive subscribers to the site.

The way I envision this to working is that each referrer will be given a coupon code to give to their referrals to use when they sign up for the subscription.

Here is my spin: At the end of each "crowdferral" campaign, whomever had the highest number of subscribers sign up, I will make them "acting" CEO for the following month. They will collect either all or a percentage of the profits for that month.

Thoughts and opinions are welcome

 

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[benhebert]

Here is my spin: At the end of each "crowdferral" campaign, whomever had the highest number of subscribers sign up, I will make them "acting" CEO for the following month. They will collect either all or a percentage of the profits for that month.

Thoughts and opinions are welcome

Gimmicks only last so long. Focus on building your funnels and growing long-term.

Also giving people who have no vested interest in your business a percentage of your profits (OR EVEN ALL OF THEM) is insane.

 

[sklawllc]

Gimmicks only last so long. Focus on building your funnels and growing long-term.

Also giving people who have no vested interest in your business a percentage of your profits (OR EVEN ALL OF THEM) is insane.

"insane" is exactly the kind of response I'm looking for. This venture is a side project of mine so I'm not relying on profits from it. I am though, challenged with raising awareness to fill this market void about the need to replace the consumable product that I'm offering on my subscription business.

 

[darkjediii]

In my limited marketing experience, I've found that 99% of people are lazy. Getting people to even click or act on a promo, there's gotta be an extremely compelling reason for them to do it. I really like your idea, the only thing is that it involves too many steps for most people to engage. But if you already have an engaged user base, it should be a bit easier to get some to act.

 

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[sklawllc]

In my limited marketing experience, I've found that 99% of people are lazy. Getting people to even click or act on a promo, there's gotta be an extremely compelling reason for them to do it. I really like your idea, the only thing is that it involves too many steps for most people to engage. But if you already have an engaged user base, it should be a bit easier to get some to act.

I'm not sure if I explained it thoroughly enough. My idea is that I'll recruit a handful of "salesmen" of off various forums and social media. Each individual "salesmen" will be given a "number" to give out to the customers they refer. When the customer signs up for the subscription, they can enter the "number" that they received from the salesmen to get a discount.

The motive for the salesmen is at the end of the campaign, whichever salesmen had the most subscribed customers, will become "acting" CEO for the following month. A percentage or ALL of the profits for that month will go straight into their paypal account.

 

[ilrein]

What's the point of asking for hypothetical feedback?

Let the market do the talking.

 

[Charnell]

Reading though this...it looks like a monthly MLM scheme.

You wanna make some money? You gotta make me more money by finding people for me. Then those people will be competing with you, thus earning me more money. Then at the end I'll give you a bonus for all the money you earned me.

 

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[Maxjohan]

Forget about the haters. I've had the same idea as you. And I am going to try to use it in the future.

Instead of making someone the CEO. I would just give a % of every sale they generate. That way. Everyone wins. But to really get this to work. I think you need to have a stand alone system. With your own affiliate program.

I'm not sure if I explained it thoroughly enough. My idea is that I'll recruit a handful of "salesmen" of off various forums and social media. Each individual "salesmen" will be given a "number" to give out to the customers they refer. When the customer signs up for the subscription, they can enter the "number" that they received from the salesmen to get a discount.

The motive for the salesmen is at the end of the campaign, whichever salesmen had the most subscribed customers, will become "acting" CEO for the following month. A percentage or ALL of the profits for that month will go straight into their paypal account.

I had the same idea with this. But I thought about making it offline. Everyone gets a code. And you can talk to college students and people at the mall. If they want something free. All you need is less than a A4. Now. To put this in to gear six I would offer them something cheap for free too. Like a pack of gum. Or even, I thought about knocking on doors and giving people like a can of coke. But if you have a product with high margins and a higher price. You doesn't need to give away cheap stuff then. You can give something more expensive.

A couple years ago. I read about Sidney Frank. The guy behind Grey Goose vodka. He kind of did this strategy. He hired 700 people. I think that number is correct. To go to clubs and bars to flirt with the opposite sex and make them try his Grey Goose vodka brand.

In August 2004. Sidney Frank sold Grey Goose to Bacardi for $2.2 billion.

So. To all the haters here. You can go around doing the same things everyone else does. Or you can try to be creative and come up with a strategy that outperforms the competition and makes you a millionaire/billionaire.

Edit: Here is the link: http://www.inc.com/magazine/20050901/qa.html

I guess it was actually Jägermeister he did this with. And it was 1200 people. Not 700. This article is better than 99.9% of what the motivational speakers put out in a lifetime.

 

[Charnell]

Instead of making someone the CEO. I would just give a % of every sale they generate. That way. Everyone wins. But to really get this to work. I think you need to have a stand alone system. With your own affiliate program.

Can you please explain to me how this is different than an MLM scheme?

 

[Maxjohan]

Can you please explain to me how this is different than an MLM scheme?

It's more like an affiliate thing. If you know what that is? Meaning, it's only one level deep. The one who give them the code gets a % of the sale. No one else gets any money. So it's not an MLM.

 

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[Charnell]

It's more like an affiliate thing. If you know what that is? Meaning, it's only one level deep. The one who give them the code gets a % of the sale. No one else gets any money. So it's not an MLM.

Got it...I don't know why I was thinking everyone would be getting a code, as well as and giving out codes. Wasn't trying to be hostile, just misinterpreted the posts.

 

[Maxjohan]

Got it...I don't know why I was thinking everyone would be getting a code, as well as and giving out codes. Wasn't trying to be hostile, just misinterpreted the posts.

No problem man.

 

[mt_myke]

Can you please explain to me how this is different than an MLM scheme?

Just wanted to point out that the Fastlane book states several times that STARTING (rather than participating in an existing) MLM program is a legitimate FL approach...

 

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[Charnell]

Just wanted to point out that the Fastlane book states several times that STARTING (rather than participating in an existing) MLM program is a legitimate FL approach...

Way to contribute to an question that was answered a week ago! I never thought nor said I disagree with creating an affiliate marketing program, I just misinterpreted the post and thought they were beating around the bush.