Business Knowledge And Skills: What Are You Waiting For To Start Utilizing Yours?
Are there any particular reason(s) “why” you or your major competitors are not constantly monetizing your various business knowledge and skills? Because upon closer examination of your situation.
You or your major competitors have far more untapped or greatly underutilized opportunities to help some non directly competing vendors systematically grow.
How you so skeptically ask? It depends on what your ideal customers total lifetime customer value metrics are. Because the faster you or your major competitors discover what those figures are.
You can get both strategic and creative. A rather interesting combination, is it not?
So Let’s Examine Some Of The Potentially Profitable Benefits Of Partnering!
Think about “how” much money, effort, time and other potentially valuable assets. Non directly competing vendors have invested into. They pay for sometimes expensive commercial leases, correct?
They invest in their share of modern technology. They’ve invested heavily in traditional advertising or promotions. High end training, consultants of all kinds.
They pay benefits and hire the very best tax professionals their money can possibly buy. And for the most part. They rarely if ever get the chance to recoup any or a portion of these costs.
This is where you or your major competitors could and definitely should strategically fill this almost bottomless void. And the really good news is.
good news is. The vast majority of your major competitors don’t see these potentially profitable, previously untapped marketing possibilities.
Systematically Partner Up And Watch Your Long Term Gross Profits Soar!
When you really stop and think about it. Doesn’t it only make sense on a lot of levels? A local, non franchised retail furniture store owner should be strategically (Joint Venturing) JVing with other local non directly competing vendors.
Like a local non franchised moving companies. Interior designers. Non franchised junk removal services. Commercial and residential real estate brokers and agents.
They all in some way or another consistently come in either direct or indirect contact with you or your major competitors ideal customers. Do they not?
(Take a look at the above video. I’m a guest on the dynamic Hugh Meyer’s “Money Talks” podcast.) Why would I or you or any of my major contemporaries bother to be a guest on a relevant podcast such as that? 😀 )
In short the potentially profitable marketing leverage, correct? For a moment think about “how” much money a local non franchised moving company owner routinely spends on outrageously expensive traditional ad campaigns.
With at best hit & miss results.
Consistently Saving Money On Traditional Ads Is Only Part Of Your Long Term Marketing Strategy!
So “how” much more business could both the local mover and the retail furniture store owner do? If the mover(s) simply give every new, current and old customer. One of the furniture store owners best, extremely time sensitive, new 1st time customer only discount coupons.
Side “A” of the coupon/gift certificate invites each recipient to enter the retailers monthly or quarterly free drawing. For their chance to win a $10,000 dollar Master Bedroom suite.
This way the retailer systematically builds their opt in email list. Each month or quarter they choose their 1st, 2nd and 3rd grand prize winners.
And all the runner ups are ethically bribed to drag a friend with them to you or your major competitors showroom. Whose at least 18. Before their coupons expire worthless.
Every local male customer who spends or X amount of dollars. They get to send the local lady in their life. A dozen roses. Courtesy of the furniture retailer. 😀
So Why Not Start Leveraging The Positive Word Of Mouth And Mouse Effects Of Ethical Bribery!
How often do you think those lucky ladies will share their stories with both their personal and professional inner circle members? And “what” do you think will happen. Every time a local residential real estate brokers customers.
Who sells a home or investment property worth the high six or seven figures. And the furniture owner allows these high income earners to purchase any one item of their choice. Which routinely sells for $7,000 to $10,000 dollars or X.
With their actual hard costs being half or slightly less. So rather than steadily wasting their extremely hard money on dismally performing traditional ads.
They at least test what you previously read. Doing so would easily be a much better use of their business knowledge and skills. Don’t you agree?
You Or Your Major Competitors Can Potentially discover A Lot! (Simply Looking Closely At Your Customer Retention Metrics!)
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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(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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