Don’t you find it extremely hard to believe, any semi cash strapped and or resourced challenged small business owners and or service providers, would constantly put themselves in the position, to keep losing money and lots of it?
On the surface, it definitely sounds a bit counter intuitive doesn’t it?
For sure. In reality, most profit seeking small business owners and or service providers, are trying to do any and everything, to maximize their long term profits.
It’s just, they’re not typically as marketing savvy as they can and definitely should be. And as a direct result, their business and or service has profit and or opportunity leaks.
And their bottom lines continually suffer because of it. Which explains ‘why’ at least 90% of them or more, spend the vast the majority of their time, working in their businesses and or services, instead of on them..
Who Else Definitely Wants To Know What the Three All Too Common Marketing Mistakes Are Which Far Too Many Profit Seeking Small Business Owners And Or Service Providers Constantly Make!
(And”How To” Correct Them!)
Right out the gate, (ladies & gentlemen), in this very first hypothetical marketing example. While this real life case study, (unfortunately) involves a rather large company, which is no longer the major player it once was.
The concepts, are still equally valid, for the companies currently now in their former position. Remember the once mighty retail giant Kmart?
At one time, they were the undisputed king of the major retailers, were they not? My how quickly thing change.
Remember when Kmart easily had and or were approaching, at least one million employee associates company wide.
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Ladies & gentlemen, at any given time, at least 20% or more of your current employee /associate base, are in reality, closest and or aspiring entrepreneurs.
Which in Kmart (and or) any other major retail organizations in their exact same position. They currently have about 200,000 employees/associates, who are itching to either be full fledged self employed entrepreneurs.
And or, they are sincerely open to being compensated by their current employers, on some type of sliding scale commission basis.
Say for ex; Kmart would have initially allowed, their employees/associates with the best attendance records and the reviews, to become part time commissioned sales reps.
And Kmart created some two sided business cards, and side (B.) of the cards, had the employee/associates name and personalized ID’s (identifications) on them.
And the associates were initially given 1,000 cards each, to pass out to whomever they wished. As often as they wished.
Your Small Business Can Systematically Generate Tons Of Long term Marketing Leverage For literally Pennies On The Dollar!
And here’s the rub. The patrons (shoppers) who bring the cards in, automatically save an additional 15% off any listed sales prices, plus whenever they spend over $100 (or X) amount of dollars, they automatically get to reach into Kmart-s in house grab bag!
And they can win some really cool, (positive) word of mouth and mouse prizes!
Things such as, they get to purchase seven current DVD movies, for just $15 dollars! When these DVD-s currently retail for $24.99 each! 😀
Or they get a free 25 LB turkey at Thanksgiving for next three years! Or they get to purchase $25 dollars worth of any combination of lunch meats they prefer, for just $10 dollars, for the next 90 days!
Successful Entrepreneurs Know How To Create Repeat Customers For Literally Pennies On The Dollar!
Guys (who will have their own separate grab bags to reach into), get to purchase top level oil for their cars and trucks, for just $2 dollars for the next year!
Ladies to get to purchase any five bottles of Kmart-s most expensive women-s, 64 oz. bottles of perfume, which normally retail for $67 dollars each.
They pay just $10 dollars total! 😀 And they might also win the chance t purchase a 75 inch, state of the art flat screen TV, which would normally retail for $1,300 dollars.
They get it for just $249 dollars, plus a modest $50 dollar delivery fee. Either way, you know these customers will be constantly storming their social media accounts, will they not? 😀
And they’ll be constantly texting friends, close family members, neighbors in laws and co-workers, sharing the good news.
Which means more and more locals will definitely start shopping there more often, correct?
Savvy Entrepreneurs Build Long Term Loyalty! And So Can You!
But getting back to this first major marketing mistake. Remember, initially what started the ball rolling? It was those 200,000 or so Kmart associates, who decided to pursue becoming, commissioned associates.
So what Kmart (and or) major retailer X would do is, compensate these associates, by paying them a 5% compensate, on the first $10,000 dollars worth of business they refer, then they automatically receive an additional 3% on every dollar they generate above that.
And they’re paid once a week and or every other week. And they call log in to Kmart’s master associate dash board, any time they wish and check their weekly and or monthly stats.
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But here’s the kicker. Every month, the top five producers, receive additional compensation percentage bonuses on sliding scale! 😀
Which means, the more they pro-actively hustle, the more money they’ll earn! So the point being, every business, including profit seeking small business owners, have the potential, to convert a percentage of their employee/associates, into commission only and or commission/plus salary based workers.
And these go getter-s, can and will help increase your long term profits!Don’t you agree?We’ll cover the other two, all too common marketing mistakes in parts two and beyond, okay?
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
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