Introducing Three Incredibly Simple Ways To Increase Your Customers Lifetime Value By At Least 25% Or More!
So did you ever think, a simple conversation with a local Realtor, could teach you a critically important lesson or two, about your customers lifetime value metrics?
This being the case. Have you ever gone to look at some type of property to rent or buy.
And (either) the Realtor or leasing agent will give the standard line that goes something like this.
““This particular property currently rents for $1,500 (or X) dollars per month, but it could easily go for $2,000 dollars per month or X.”
So the obvious question begs asking. “If it can really go for $2k per month ( or X), then why isn’t it?” 😀
And so it goes with you (cash starved) struggling small business owner. Huh?
If you can truly earn an additional 25% or more from your current advertising/marketing and or promotional strategies, then why aren’t you? Hmm?
How Come Your Not Currently Taking Advantage Of A Simple Sales Boosting Strategy That Can Slash Your First Time Customer Acquisition Costs By A Whopping 85% Upfront Or More!…
Have you or someone you know ever taken a creative thinking course and as the material is being taught, you find yourself thinking out loud and constantly saying to yourself. “Gee that’s so simple, why didn’t it seem so obvious before?” 😀
Profitable marketing strategies (and other) breakthroughs are often the exact same way. Meaning- you don’t see the obvious until you see it! Correct? 😀
Case in point; do you have one of those Red Box movie rental machines in your local grocery stores ? Here is how the typical daily transaction occurs. Someone (or a couple) stands there and eventually rents (on average) one -three movies.
They enter their credit card info, make a few selections and out pops their movies in the sealed envelope, correct?
Part Of Your Lead Generation Strategies Should Revolve Around Helping Other Non Directly Competing Vendors!
They watch the movies and on their return visit to the grocery store or whatever the specific place of business happens to be, they return the movies correct?
Wrong! Huh? Think about this from a marketing stand point for a moment. First off, no matter what product or service you market, there is another business which desperately needs your exact same customer. Right?
So why should two cash starved struggling small business owners each burn money on separate advertising campaigns, when there is an incredibly simple way to work out a strategic alliance (aka) joint venture (JV) arrangement of some kind, and dramatically reduce each other costs and simultaneously increase your long term profits!
In Far Too Many Cases Small Business Owners Struggle When They Don’t Have To!
The next time you are seriously considering doing a direct mail campaign, instead try and find at least five other local small business owners, who are non competitive to your specific business, product or service.
And offer to add your best market tested post card sized insert into their current outgoing direct mail campaign.
(Note: You have to test first before you attempt this type of marketing leverage strategy, otherwise you want be nearly as successful as you potentially could be.)
If you’re just starting out and money is extremely scarce, make them two separate A/B split test type of offers.
Offer # one: You will simply supply them with the pre printed post cards and or index cards, and you will generously revenue split with them on a sliding scale of 25-50% of each sale you make.
( They make the higher end of the scale provided they personally introduce you to at least three other local, non directly competitive small business owners that you can make the exact same arrangement with!)
Are You Starting To Appreciate How Some Incredibly Simple Marketing Tweaks Can Definitely Help You Increase Your Customers Lifetime Value Metrics!
Offer # two: If you are marketing any type of ongoing subscription service of some kind. Then you will pay them 25-60% of the first month and 25-50% on an ongoing basis.
Now let’s do a reverse, huh? If you’re the one doing a first class enveloped mailing. Find at least three other non directly competing businesses and or services that need your exact same customer base.
And simply charge them a certain dollar amount upfront to piggyback in your mailing. Obviously you’ll being giving them a competitive price discount off the typical postage rates.
And let them keep 80-100% of any up front profits they generate on the front end of their sales funnel.
The real point of this particular strategy is to dramatically lower your upfront out of pocket costs, and or to recoup any up front expenses you will definitely incur whenever you do offline direct snail mail.
Just be sure that in the beginning you only approach small or mid sized business owners and or service providers, that you (or someone) you know currently already has some type of ongoing established relationship with them. That way you can leverage it. 😀
Piggy Backing Off Of Other Local Small Businesses Owners Out Going Mail Can And Will Both Save Time And Potentially Make You A Fortune!
Back to the Red Box example for some additional super marketing leverage. Two things here.
A.) Another offline local business like say, (Best Buy) should include their best market tested insert coupon, and include it in Red Boxes envelope, and offer those customers a chance to enter a free drawing for a chance to win $5K in discount coupons.
One guaranteed winner will be announced on Best Buy’s website each month!
But also offer at least five guaranteed monthly second prizes and ten guaranteed monthly third prizes in order to stimulate both positive word of mouth and create tons of repeat movie rental customers! 😀
But here’s the kicker; currently, Red Box only grosses $1.50 per day for each movie rental (unless) of course you don’t return it within a certain time frame. But that withstanding.
Best Buy or whomever their joint venture partner (JV) partner is, will JV split with them 25% of each sale they make as result of this new source of customer base spending money both on and offline.
Your Precision Like Entrepreneurial Skills Can Definitely Help Increase Your Customers Total Lifetime Value Metrics!
Because the web address that’s included on Best Buys, ( or their JV ) partners coupon insert, in reality, will be Red Boxes affiliate link ID. That way Red Box can accurately track and credit Best Buy each month their 25% online affiliate commissions! 😀
And finally; think about this. In order to really stimulate future sales and generate powerful word of mouth publicity.
Red Box will strategically give away each month at least ten ($1,000) dollar gas cards! They’ll simply include them as an additional free insert! ( And include ten $100 dollar in store grocery coupons as well!)
What do think will start to happen when someone rents two movies for a grand total of $3.00 dollars, and wins a $1,000 dollar gas card (during a recession) to boot!
Think they’ll jump on social media and tweet a few friends and family members, and mention it during break at work! Bingo!
Are you starting to really appreciate, how to dramatically increase your customers lifetime value metrics? And how this can potentially be extremely profitable! Great!
Q. How many more brain dead simple spin off concepts can you come up with to start implementing in your own cash starved struggling small business in the next 60 days or less?
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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Extremely important note: And if by chance, you happen to know any of the lesser known podcasters,(or radio show host)
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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
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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on
marketing your small business or service. I Recently appeared on.)
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