Today I review a business decision I helped two clients make related to strategic partnerships and sponsorships. Getting the word out is always important for your business. If it isn’t growing it is dying. Sometimes companies will leverage a “loss leader” model to get people into the door. It isn’t the worst idea for some businesses but many times it simply isn’t required to achieve your goals. For one client knowing the metrics for their offer were key to understanding what the break even point was for their digital marketing partnerships. Knowing what you control inside the process led to identifying the proper metric to leverage to price out their offer. For my other client the cost of a sponsorship was cut down because the group did not have quality data on revenue generated inside their venue. (if I told you who it was you would be amazed they didn’t have that data) At the end of the day many companies loss lead when they simply don’t need to. Why lose money when you can get at least a 1:1 ROI. Even better if you can get a 2x or 10x ROI. As always please leave a review/ rating so we can help grow the tribe. Your reviews help other business owners and veterans find the tips and tools that can help them grow. If you want to connect directly reach out to me here:
