Monetizing Through Radius Marketing

When a person is excited about something, one of the first things he usually does is tell everyone about it. He usually announces the good news to his family, friends, and business associates.

So you want to maximize the transmission of this excitement about your company while it is fresh in your customers’ minds. One of the most practical ways of conveying this excitement is through the use of radius marketing. Radius Marketing, or commonly known as Viral Marketing, essentially turns your existing customers into walking billboards. Your goal in using this tactic is to tap into this excitement and monetize it to create new customers.

Radius Marketing allows you to capture this enthusiasm and gain access to new customers when people share their purchase with their radius of influence or when you target the area directly around their house.

Individuals tend to have friends with same interests living within the same location or socialize in the same chat or Facebook groups. Because of this fact, when you have a customer who comes into your business and makes a purchase, the chances are that their radius of friends and family fill with other people who would appreciate your products or services.

So, how do you get invited? It is easier than you might imagine with a simple radius marketing program. There is both an offline method and a social media strategy for utilizing this program.

First, let’s discuss the social media strategy:
  • Simply take the address of a recent customer and use a tool such as Google maps to draw an imaginary circle that covers 5-10 blocks around their house. This circle is the area that you can target with a series of mailers. This campaign is designed to tease your prospects by revealing that someone in their neighborhood bought from you, so they should, too.
  • Of course, you add a sense of exclusivity by offering them a distinctive neighborhood discount because they reside in the same area as your current happy customer.
  • Moreover, the beauty of this is that you can outsource the whole process with an assistant and the U.S. Post Office. You, the business owner, will never need to stuff an envelope or lick a stamp.
Let’s examine a sample campaign:
  1. A customer purchases from you, so you go online and buy a list of their neighbors’ addresses.
  2. Next, write, produce, or buy a series of three to seven mailers composed of postcards and discount coupons.
  3. Then create a dedicated website for that neighborhood and direct your new prospects to the site.
  4. Be sure to include an opt-in box on the page to capture their email address.
  5. Encourage them to set an appointment or visit your business with an irresistible offer.
  6. Finally, use a professional printer or online service to schedule your sequence of mailers, which you will send to the neighbors of your most recent customers.

Yes, it is that simple! In fact, the U.S. Postal Service now offers a service that does this for you. Contact them for more information.

The second strategy takes advantage of free social media:
  • To utilize the radius marketing method via social media, create a Facebook fan page with a lead opt-in box to capture someone’s first name and email address. You can outsource this for less than $100 if you do not know how to do it yourself.
  • You then create an ad on Facebook saying that one of your friends or neighbors recently purchased your product. Finally, you can also craft an ad that targets the friends of your particular client. Yes, Facebook can help you to target your ads to reach a specific radius of contacts!
Let’s examine a sample campaign:
  1. Set-up a Facebook fan page and ask your customers to “LIKE” it.
  2. Create a Facebook Ad that says your friend or neighbor is now a client.
  3. Target your customers’ friends. The ad will show in the advertisement feed on the right side of the Facebook fan page.
  4. Start collecting the information they provide when they opt-in for a “friend of a friend.” special offer. (They should provide their first name and email address).
  5. Build your list and start building relationships. You will also want one set of emails for customers and one for potential customers.

Yes, it is that simple! Moreover, if you do not want to do it yourself or don’t know how there are:

  • tutorials on the Internet to teach you how to do this
  • businesses that advertise all over the Internet to do this campaign for you.

These strategies are cheap, targeted, and effective!

By the way, if you are ready to monetize your business more effectively and accelerate your business results, let’s connect. I know we can help.

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