How To Improve Retail Sales Using Powerful Bounce Back Offers!Part Two
Wanna here something very strange?
(Say yes!) Sadly, there are an awful lot of severely cash strapped small business owners, and service providers, that proclaim publicly, they are sincerely interested, in discovering how to improve retail sales,?
However, upon a much closer look at their entire sales processes, front to back, (typically) not all the time, but in at least 85% of the cases or more!
You will notice, a bare bones minimum of four potentially profitable, (and oh so crucial) marketing elements, clearly missing from their overall sales, revenue generating processes! (This is so not good!)
Which means (entrepreneur), they and unfortunately, maybe you too, are literally leaving a ton of untapped marketing gold, (of some kind or another) on the table!
And sooner or later, one or more of your major competitors, is bound to take advantage of it!So let’s (immediately) plug those leaky holes in your operation right now! Whatdayasay?
So Who Else Wants To Know How To Improve Retail Sales Using Powerful Bounce Back Offers And Other Proven Marketing Strategies?
First things first!Let’s quickly reveal, these four, bare bones minimum, battlefield tested marketing strategies, that are more times than not, clearly missing, from far too many profit seeking small business owners, and or service providers ongoing revenue generating processes!
Upon further and much closer examination, typically these four major marketing strategies, are simply not being utilized at all, and or far to infrequently!
1.) Virtually little or infrequent use of mega profit producing add on/upsell marketing strategies!
2.) Little or no strategic use of on or offline A/B split testing of any kind, to help further boost, (both) your short and long term gross profits!On both the front and back end of your sales funnel.
3.) Virtually little or no consistent use of, long term profit producing back end marketing strategies and or tactics!(Which practically every business and or service provider, has the potential to benefit from.)
4.) And finally, number four, which is (of course) the main theme of this particular post, virtually little or no consistent use of, profit producing “bounce back” offers of any kind!And entrepreneur, (seriously) that has gotta stop!
Because your continuous failure to do so, is literally costing your bottom line a fortune!
So if you haven’t already, you definitely owe it to your bottom line, (and your top potential joint venture partners),to read and re-read part one of, how to improve retail sales, so you’ve at least got the basic concepts down packed.
That said, let’s see how and why, the strategic use of mega profit producing “bounce back” offers, can and definitely are the beginning of your marketing funnel, not the end!
Your Small Business And Or Service Might Be Potentially Sitting On A Gold Mine! (And You Just May Not Know It Yet!)
Okay, so picture this all too common scenario, why don’t cha! In walks one of your very best customers/clients and or patients etc.
And they spend X, (meaning) after you’ve done some inexpensive price point testing, you’ll know with mathematical certainty what your average customer spends, and more importantly, what your top end customer/clients and or patients spend as well!
So let’s say, for your particular retail business, your typical high end customer, routinely spends $100 dollars (or X), and remember, the actual amount is irrelevant, it’s the overall concept you have to at least semi understand!
So when you, (and or one of your personally trained associates), hands one of your best customers/clients, one of your best market tested,time sensitive “bounce back” offers.
You also automatically provide them with another long term incentive, that produces not only more long term gross back end profits, but it also generates some perpetual, positive word of mouth and mouse publicity!
For ex; let’s say your store is located in a popular mini strip mall, along with six other, semi cash strapped small business owners and or service providers.
But one of the more successful businesses,which is located in the strip mall, belongs to an extremely savvy retail appliance center owner, who routinely has gross profit mark up margins, of anywhere from 75 – 450%!(Just depending on the particular item in question! 😀 )
And it’s your pet store (and or hair or nail salon business) and their extremely marketing savvy (joint venture partner) appliance retailer alliance, that will combine to help boost, both of your long term gross profits!Here’s how!
Give Your Small Business And Or Service A Much Needed Shot In The Arm By Seeing The Long Term Big Picture!
Since your savvy retail appliance center JV partner, has already run their total lifetime customer value numbers, they recognize, their ideal customer, over time, once you total what their initial, brand new first time customer typically spends.
Plus their total number of referrals, testimonials and constant mentions on the various social media platforms is worth, over the next five to seven years!
That all important first time customer that sticks around and repurchases, is easily worth somewhere between $7,500 and $17,000 dollars, in long term gross, front and back end profits!
So that’s why, they’ll gladly leap at the chance to underwrite some of your pet store supplies,perpetual lead generation costs!In order to entice your high end customers back into your store!(And or to your state of the art, mobile responsive WordPress blog.)
How To Improve Retail Sales Is really Not A Mystery Correct?
For ex; let’s say a 20 LB bag of your higher end (dog or cat food) normally cost $39.00 dollars (or X.) You now give your best high end VIP customers, a laminated two sided business card, that’s annually renewable for just $ 5 dollars.
Two dollars of which, you along with all the other vendors located in the strip mall, that are part of this co-op marketing (JV) effort, all donate to various charities every year!
However, now your high end VIP customers, can save 25% off any future purchases they make of that particular brand, plus save an additional 15%, (for a grand total of) 40% off that particular brand, anytime they bring any potential new first time customer, 18 and over with them, to your store!
And on side B of this two sided index card, they are directed to enter the appliance dealers, monthly free drawing, for a chance to win a $5,000 dollar (state of the art) home entertainment center! One brand new guaranteed winner announced each month!
But you have to remain an active opt in email and or mobile marketing subscriber, in order to be eligible!
Becoming Effective At Money Making Lead Generation Is More An Acquired Mindset! (Is It Not?)
And on the bottom half of side B of the two sided index card, will be three other vendors, located in the strip mall.(And or extremely close by.)
And your high end customers, automatically save 20% off their total bill, (including any and all sales prices) every time they shop there.
Plus an additional 10% off, for bringing a potential first time customer 18 and over with them!(You’ll discover “why” these severely cash strapped retailers, are so willing to be so generous in part three!
So please stay tuned! But for now, hopefully you’re starting to appreciate, how to improve retail sales! And “why” the strategic use of powerful, profit producing “bounce back” offers, are merely the beginning of your long term sales funnel, and not the end!Right?
See you in just a little bit, for part three! Okay?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!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
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