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This will open up your doors to creating more opportunities. With joint ventures, you can have a more sustainable volume in sales. A larger volume of sales means larger economies of scale, giving you better cost savings to support your profit margins. Your costs may no longer eat into your profits. Leads from your shared channels may also be more stable for your business. A Story Example – Doing Things Similarly But Differently.
There are many aspects of a business to change. But to illustrate this point, let us start with a story. Here’s the story of Tim and Kenny, two fictional characters in the digital marketing space who started out wanting real estate agent email list to sell wallets. Tim, being educated in digital marketing and having trained for years in the industry, is well-versed in the requirements and strategies of content marketing. Tim can do copywriting very well, and he saw potential in overlooked segments of the market, in particular, wallets. Tim starts by targeting a crowd who support the minimalist movement. He feels he wanted to create a slick and slim wallet, carrying notes and cards without being too bulky.
Of all the people in the world, he believes that the minimalism concept is one that is aligned with his product’s vision and mission. He pushes out his first line of wallet products, the Tim Wallet 1.0, a wallet that is slim yet trendy. They serve the bare bone purchase of storing cards and dollar notes, but the wallet is somehow able to remain flat and easy to keep. Tim ran digital ads promoting these features, spending a whopping $25,000 assuring everyone that their wallet need not be that bulky anymore if they choose his. With an unorthodox price point of $28, Tim brings in up to $50,000 of sales. With massive profits already secured in his pocket, Tim didn’t see any further runway for this venture and decided to close down Tim Wallet Pte Ltd and leave the industry. Kenny, on the other hand, did not start off as well as Tim. Kenny does not understand copywriting much, but Kenny is known to be a scheming strategist.
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