So you’ve tried direct mail, advertising, you’ve got a web site, maybe you’ve even tried networking as a marketing strategy. These and many other marketing strategies are all good and if performed properly will most likely bring you favorable results. A word to the wise here though, some of them can run you a fortune in marketing costs. And in my experience, cost has a lot less bearing on effectiveness than one would like to believe. Now being a fan of Jay Conrad Levinson and his concept of “Guerrilla Marketing”, I am always on the lookout for innovative and inexpensive ways to market. And what I have for you here certainly fits that bill.
I believe Napoleon Hill in his 1930’s classic book “Think and Grow Rich” was the first person to coin the phrase “Master Mind” and he defined it as: “Coordination of knowledge and effort, in a spirit of harmony, between two or more people, for the attainment of a definite purpose.”
Hmmm… So basically it’s building a team that leverages their collective brains and brawn to help one another get what they want.
So let’s not beat around the bush here. Are you ready for the secret marketing strategy? Well here goes… It’s quite simple really… there is strength in numbers. Two minds are exponentially more capable than one mind alone. In this equation, one plus one does not equal two, it more closely resembles eleven. We’re talking about leverage here. The secret is simply to gain leverage by creating your own mastermind. Not just any mastermind though; One that specifically focuses on marketing – a “Marketing Mastermind” so to speak.
So my proposal to you is to take that exact concept of a mastermind as Napoleon Hill defined it, and niche it to focus primarily on marketing.
So real quick what should this mastermind look like? My suggestion would be 4 to 8 members from different, non-competing industries, meeting weekly to discuss how they can help each other market their respective businesses – Plain and simple.
Now it’s not my intention here to educate you in any detail on how to set up and effectively participate in a mastermind group, as there are plenty of resources out there already that can do that for you, it is simply to share with you what’s possible by leveraging this concept to support your marketing efforts.
Personally, I see this strategy as a phenomenal way for organizations, especially smaller ones with little spending money for marketing, to use the power of leverage to broaden their capability and effectiveness.
While the benefits of doing this could be endless, let me just share with you five of my favorites:
Plain and simple, it keeps you in the conversation of marketing.
It can provide you with unbiased feedback, brainstorming, and marketing advice based on experiences of what has worked, or hasn’t worked for your mastermind teammates.
You will significantly expand your reach and go beyond who you know and tap into who your teammates know. Now depending on what the group agrees to, you may gain access to the client list and/or mailing list of the other members. Additionally, you can explore the possibilities of joint marketing initiatives and joint venture arrangements where multiple parties share in the results.
You’ll be held accountable to get done what you say you will get done. This alone inspires people into action and action ultimately leads to results.
The list can go on and on and on however, best of all, masterminding is free!
So need I say more? I sincerely hope you’ll take this strategy on and try it on for a while. What do you got to lose? – It’s free. Remember, there’s power in numbers so build your “Marketing Mastermind” and reap the rewards today!