Entrepreneur Please Stop Leaving Money On The Table! Part Three
Sure it’s easily to vow to stop leaving money on the table. But the mechanics of consistently doing so. That part is definitely not so easy, right? But you or your major competitors can definitely, inexpensively test a few different approaches.
To discover which “if” any particular carrot/approach appeals to your specific local target prospects. The remainder of this post and series is dedicated to revealing how to do so. Are you okay and up for that?
Why Being A Successful Entrepreneur Means Leveraging Practically Any And All Under Utilized Assets And Or Resources Available To You!
As always, the following hypothetical examples are strictly for marketing illustration purposes only. Presuming you’re the sole owner of a non franchised small business or service.
And rather than keep wasting your extremely hard money on potentially expensive. Hit & miss traditional ad or promotional campaigns.
Instead you or your major competitors are at least open to inexpensively testing a proven form of performance based marketing (PBM) strategy.
It primarily you or one of your major competitors essentially turning the tables. And perhaps hanging a few signs in your business or service.
Looking for some local men & women. Who are interested in potentially earning some side income. Setting their own hours. And only working if and whenever they feel like it. 😀
Because they will be paid on a percentage commission only basis. (Thus (PMB) Performance Based Marketing. Because rest assured ladies & gentlemen. There are at least a few men & women.
Who will definitely be open to potentially earning a few dollars on the side. Seeing how they get to set their own hours and work as often or as little as they wish to.
Especially if they don’t have to try and recruit anyone or ever have to worry about attending local hotel or home meetings of any kind. Or being asked to spend time and money attending any conventions 😀
Entrepreneur Please Stop Leaving Money On The Table! Part Three
Being Your Own Boss Means You And You Alone Get To Decide How Creative You’re Going To Be!
In short you’re looing for as many locals as possible. Who are interesting in potentially earning income strictly on the side. Setting and working their own hours.
Including weekends and major holidays. What they will primarily being doing for you is. Passing out either you or your major competitors extremely time sensitive, single or two sided gift certificate/discount coupons.
Whether they’re one or two sided. You will have a blank space for referred by to be hand written in. And they also have a space for a ten or X day expiration date to be written on the coupons as well.
And if the gift certificates has a side “B.” That side invites the recipients to enter your monthly or quarterly free drawing. For a chance to win some really cool grand 1st prize.
They also help you or your major competitors systematically build your very own opt in email list. And you compensate them anywhere from 10 – 25% of the front end gross profit only.
Of course you or your major competitors definitely need to have a realistic idea. Of what your ideal customers total lifetime customer value metrics are.
This way you can more accurately determine how much you can afford to compensate them on the front end. Because you or your major competitors will gladly pocket the long term back end of your sales funnel.
Don’t Over Complicate Your Initial Lead Generation Process! (Just Get Going And Constantly Tweak Things As You Go!)
Be darn sure they understand “how” and when they get paid. Each redeemed gift certificate must “have” someone’s first & last name. Or their recognizable initials. And have a hand written 10 or x day expiration date on it.
So you know who to credit your 10 – 25% compensation. After your real hard costs are deducted from the gross amount of certificates redeemed per week or month.
If you can’t personally keep track of this yourself. Make darn sure the person you assign this critically important task. Is fully capable and trust worthy.
To avoid obvious future problems. They initially pass them out to close friends, current, future and past co-workers. To current, future and past neighbors. In laws and fellow association members etc.
Remember To Constantly Systematically Leverage Your Leverage!
Also make darn sure your single or two side, extremely time sensitive gift certificates. Ethically bribes the recipients to drag a friend with them to you or your major competitors store.
As long as their at least 18. And they do so before your ten or X day expiration date expires. They can generate a side hustle income any time they like. Because they’re only compensated on a commission only basis.
They’re not compensated for “how” many or “how” few certificates they actually pass out. Theirs no or offline meetings or conventions of any kind for them to attend! 😀
They can take off as many weekdays, weekends or holiday seasons they wish to. Just make sure they understand. Once they hand write a ten day, (not the next ten business days!) But the next ten or X number of calendar days on their certificates.
If they’re redeemed any time after that. They’re completely worthless. And the buyers pay current retail prices. 😀 So it’s best they don’t pre date them.
Just hand write in the dates when they actually pass them out to someone. Entrepreneur are you starting to appreciate “how” you may easily be leaving money on the table?
Just know and appreciate going in. Probably 95-98% on them who attempt to do this. And consistently earn money with a strategy like this. Will not stick with it. 😀 One to two percent will.
So keep going. Because the one to two percenters will ultimately reveal themselves. It just takes some time and persistence.
You Probably Have More Previously Untapped Marketing Opportunities Available to You! ( Than You Fully Appreciate!)
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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