I normally don’t pay much attention $7 reports, but when Jay Conrad Levinson endorses something it’s definitely worth a look.
Jay is a legendary marketer who coined the phrase Guerrilla Marketing and is the author of over a dozen books. The idea behind Guerrilla Marketing is to get great results with a very limited marketing budget. Jay thought his book “Guerrilla Marketing for Free” was the final say on the topic of low budget marketing.
But the Guerrilla Balance Sheet takes this to a new level by encouraging you to get paid for your marketing. The report is 61 pages long and contains a lot of fluff and build-up to get to the point. The core idea of the report however, is quite interesting.
The main idea
You should look at every expense on your balance sheet and turn it into an income instead. Now this may sound redicilous, but it’s something most major marketers have been doing with their marketing costs for years. They have a front-end offer, for example a low-priced report, that is designed to just break even or turn only a small profit. The main goal of the front-end offer is to get new leads to which they can sell their very profitable back-end offers. And instead of giving the front-end report away for free, they charge a small fee for it. Thus turning a marketing expense into an income.
Who’s doing this?
Here are some other examples from the report of companies turning their expenses into income:
- Las Vegas casinos used to have the $1.99 buffet as a loss leader just to bring people into their casino. Now they charge a reasonable fee for the buffet so they can afford to serve good food and turn a profit.
- Ever seen the little Black Jack cheat cards you can buy in the souvenir shop? First you pay money to buy the cheat card and then you go to the casino to play Black Jack with your “new skills”, and probably loose more money.
- A company needed to buy new and expensive equipment to comply with new environmental regulations. Instead of viewing this as a huge expense, the company rented out the equipment to neighboring companies who also needed to comply with the new regulations. Thus turning a large expense into a new stream of income.
- The Transformers movie – a two and a half hour commercial for toys and GM cars that people happily paid $10 to see.
Front-end, Back-end and Never-end
The URL for the report is www.FeBeNe.com which stands for Front-end, Back-end and Never-end. Of course the report itself is a perfect example of a Front-end marketing piece that generates a profit for the authors. It’s not clear yet to me what the Back-end and Never-end (continuity, subscription, membership, etc) offers are. I’m sure the authors did not put in all this effort in order to just sell a $7 report.
Who is this for?
I enjoy reading about new marketing ideas so for me it was a worthwhile time-investment to read the report. If you’re just starting out then you should focus on more fundamental things to get your business up and running. If you have some income coming in and you want learn how to start thinking about turning all those pesky expenses into income, then I recommend this report.
Here’s the URL: www.FeBeNe.com