You’re definitely ready to move your business or service ahead, right? No worries me too BTW. But here’s one of your initial challenges. If to this point things haven’t exactly been working out.
Now more than ever is the time for you or your major competitors to at least inexpensively test some successful marketing strategies and tactics. Granted, it certainly doesn’t hurt if they’re a little non traditional.
Because usually, (not always!) but usually your non traditional approaches to lead generating and referral generating. Often lead to creating or discovering some brand new, previously untapped profit centers.
And once this happens. You or your major competitors have the opportunity to expand your income producing possibilities. And this is where the leverage can and will start to play a major role going forward. This is how and where you or your major competitors can start to distant yourself from the pack.
Who Else Is Up To Discover Some Proven Strategies To Retain Customers Or Clients?
Especially when successfully implementing them can consistently be done so for literally pennies on the dollar. Case point. For this particular hypothetical marketing example. Which as always is purely for marketing illustration purposes only.
Let’s say you’re the sole or core owner of a thriving local mortgage business. And like any extremely large multi billion dollar industry. It has it’s ebb and flows. And your local economy is no exception.
But unlike a staggering 95-97% of your industry.(Especially your local competitors.) You’re no longer willing to rely solely on the initial front end of your sales funnel. In order to generate 100% of your long term gross profits.
In fact there is a major form of previously untapped income producing opportunities. You or your competitors should definitely be profiting from.
There Are Certain Types Of Business Growth Strategies You Should At Least Strategically A/B Split Test!
So one thing is definitely for sure. Whenever a local individual or a couple qualifies for a home mortgage. They may or may not also be in the market (at some point!) for some brand spanking new or slightly repossessed furniture.
Which is “why” either an extremely marketing savvy retail furniture concern. Or an extremely marketing savvy mortgage broker should create a back end profit generating referral system servicing the retail furniture industry. Huh?
In the simplest form. If nothing else. The retail furniture concern could simply offer to form a JV (Joint Venture) revenue generating arrangement with some of their areas top mortgage brokerage firms. Say what?
And provide the mortgage brokers agents with some of their best market tested, extremely time sensitive gift certificates. And the agents start sharing them with both their current, future and past customers.
They could offer them to their past customers who refer them new business within the next ten days or less. And basically the furniture stores referral compensation plan would initially start off with at least two levels of compensation.
This Is How And Why Certain Types Of Business Growth Strategies Often Lead To Exponential Growth!
Based on how quickly the recipient produces results. Say what? Say for example. The maximum amount of time the recipient has to redeem these (digitally delivered) gift certificates in ten total days. Let’s say they can save 15% off, up to $500 dollars if they come alone and do so a maximum of ten days from the expiration date on the gift certificate.
However, they can save a maximum of 40 or X% off up to $1,500 dollars. Provided they drag a friend with them whose at least 18. Before the expiration date expires.
This simple marketing twist alone will definitely cause a certain percentage of those recipients to not only drag a semi qualified friend with them to you or one of your major competitors retail furniture store. But they’ll also enthusiastically do so within the much shorter three day expiration date deadline.
And the retail furniture store will pay the mortgage and their agents $50 or X dollars for every lead which converts into a first time paying customer. No matter how much or how little they actually initially spend. Say what?
Because the retail furniture concern already knows going in. The real long term gross profits for them. Are earned from the long term back end repeat sales. And the constant positive word of mouth and mouse buzz.
Who Says The Top Marketing Ideas For Small Businesses Is The Only Way To Go?
Plus going forward. Say once every quarter, (every 90 days) or so. The mortgage broker can send an extremely time sensitive, market tested digital gift certificate to certain segments of their main lists of opt in email subscribers.
Maybe subscribers who just got prequalified in the last 60-90 days. (Give or take.) But before they’ve actually found a house to buy. The mortgage broker makes them aware of a quarterly closeout furniture sales event. Or makes them aware of one of the furniture concerns incredibly popular, “slightly repossessed” sales event.
Which are not open to the general public. It’s by invitation of some kind only. And of course every current and future employee or vendor of the mortgage brokers.
As soon as they refer five or X number of paying customers each. And as long as they remain an active opt in email or active text message subscriber of the mortgage brokers. They automatically get grandfathered in for lifetime savings of a bare bones minimum of 25% off any purchase. With no minimum purchase requirements ever. Say what?
So you know both the current and future employees of the mortgage broker will definitely constantly be bragging to their current and future neighbors. Their closet friend, relative and other professional or personal inner circle members, Correct? Wouldn’t you? Me too.
Hopefully you now have a much deeper understanding and appreciation of “why” now is definitely the time to embrace some successful marketing strategies and tactics? Don’t you agree?
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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