Listen "S16 Ep41 [Empowering Entrepreneurial Growth] Building an Effective Marketing Incentive Structure"
Episode Synopsis
Show Notes: Survival Mode Episode 41
· Hosts: Bert Robinson, Kevin Beers, Michael Grant Jr.
· Show theme: Providing a step-by-step roadmap for business success.
· Introduction to Step 11 of the roadmap: Locking in Supporters and Establishing an Extended Marketing Team.
· Michael elaborates on establishing a marketing incentive structure to leverage influencers and supporters.
· Example provided of incentivizing Brand Ambassadors to bring in customers to a restaurant.
· Discussion on aligning incentives with the preferences and interests of supporters.
· Importance of affordability and tracking mechanisms to ensure return on investment.
· Recommendation to document agreements with supporters through contracts and utilize digital tools for monitoring.
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