Business Growth Strategies: Why Some Of Them Aren’t So Obvious!
(When You First Start Implementing Them!)
If you know anyone in business on or offline. But especially online these days. You constantly hear about their ad costs constantly going up, correct?
Or maybe they’re complaining about “how” much they’re steadily losing on the initial front end of their funnel. Sound all too frighteningly familiar?
Fortunately the really good news is. Whether you primarily market or promote on or offline. You can and definitely should constantly be, (if nothing else!) Inexpensively -strategically testing various business growth strategies.
Because it’s where some serious long term growth can systematically be discovered. For literally pennies on the dollar. Are you alright with that?
Entrepreneur Believe It Or Not! (But Consistently Increasing Revenue Is Definitely More Of A Positive Mindset Thing Than Anything Else!)
Case in point. Take a really close look at the feature image of the luxury hotel. Of course the primary revenue is generated on the initial front end of the business, right?
So by consistently renting their various priced rooms. Now let’s delve even deeper. To see what other potentially profitable cash flows can either be discovered and or created. 😀
Strictly for hypothetical marketing illustration purposes only. Let’s say this one particular hotel currently has a total 175 housekeeping employees. one and twenty five of them are full time.
While the remaining 50 are part time. And all 175 of them each know at least 25 locals apiece. Which brings the grand total of potential first time customers to 4,375. (175 x 25= 4,375.)
At least 30% or X% of 4,375 equals 1,312.50 customers. (1,312 as a practical matter.) Who are ready to become a first time customer of you or your major competitors, non franchised retail appliance store. (Just click the black triangle with the green background. In order to listen to the entire 33 minute episode.)
Business Growth Strategies: Why Some Of Them Aren’t So Obvious!
Who Else Is Up For Systematically Compounding Both Your Front And Long Term Back End Gross Profits?
In this case. Suppose those 1,312 first time customers spend on average just $375 dollars apiece. You or your major competitors just grossed $492,000 dollars. not too shabby, correct? ( 1,312 x $375 dollars per customers equals an initial front end gross profit of $492,000 dollars.)
And that’s only their initial first (front end) purchase. Keep in mine, simply by you or your major competitors understanding your ideal customers total lifetime customer value metrics.
You can ethically bribe x% of those 1,312 or X number o customers to drag a friend with them. To you or your major competitors store. Whose at least 18.
Before your ten or X day expiration window date expires completely worthless. And for both of them joining your opt in email list. They can:
A.) Enter your monthly free drawing. For their chance to win a 75 inch, state of the art flat screen TV.
B.) Save up to 40 or X% simply for dragging their friend. And to $2,000 or X amount of dollars.
C.) And as long as their friend also joins you or your major competitors list. Before they leave your store that day. They can save up to 30 or X% up to $1,500 dollars.
Remember To Constantly Make Strategic Opt – In Email Your Main Priority!
Otherwise, if for whatever reasons. Their guest doesn’t want to join your list. Then they only save 10% up to $500 or X amount of dollars. An amount so much smaller. It almost forces your ideal prospects to join you or your major competitors list. Don’t you agree? 😎
Plus, unbeknownst to these housekeeping workers. This particular list of subscribers. No other department within or without of the hotel can join it. 😀
So you can get as creative with it as you like. You’ll also offer a 2nd & 3rd grand prize winner as well. the second grand prize winner wins a 42 inch, state of the art TV.
And the 3rd grand prize winner wins a nice state of the art 32 inch TV.
You know all three of them will be constantly bragging both on and off of social media, right? Wouldn’t you? (Me too! 😎 So rather than continually waste a fortune, on those outrageously expensive, dismally performing, local – prime time radio & TV ads etc.
Instead they or you just craft a series of email messages. And lower your costs, while simultaneously increasing your long term front & back end gross profits.
This is just a small sample of applying some relatively simple, business growth strategies & tactics. Any questions?
You Can Either Constantly Keep Struggling! (Or Decide To Start Strategically Growing!)
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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