Here’s The Critically Important Part Lower End Services Play In Growing Your Business!
Growing your business or service is pretty much a 24/4 task and or challenge, is it not? Agreed. Especially in the initial startup phase correct? No doubt. Because long before there’s enough steady revenue available to hire full or part time employees or associates.
You’re pretty much it right? No doubt. Which means you’re constantly wearing many different hats. And clearly some of them not only don’t fit. But some of them never will.
Which is why at some point you either have to delegate to others or outsource or something. Sure in the beginning you dabble here and there for a while.
But what happens when you finally get serious about your current and future social media presence? You need to turn to a qualified source, right? Absolutely. Or what about once you decide to add strategic opt in email to your long term marketing mix?
Or once trying to do and keep up with the accounting demands of your rapidly growing business or service.It’s literally enough to make your head explode right? No doubt.
On the other hand. As you initially start to get the ball rolling. You need to develop your lower end products or services, which lead some of your best customers or clients into your long term sales funnel. (Just like the ultimate insiders do.)
Who Knows Maybe It Really Is A Good Thing Some Of Your Major Competitors Think You Need Outrageously Big Traditional Advertising Budgets In Order To Consistently Generate Big Profits!
How about you and I shatter that myth right now? Are you okay with that? Great. Me too. Let’s say you run a very successful, single location retail appliance center.
And your ideal customer. Currently has a total lifetime customer value metric of somewhere between $400- $11,000 dollars. Give or take over the next five to seven year period.
And practically every Monday morning. Or every other Monday morning like clock work.You or one of your top senior marketing directors or sales managers.
Stops into the local bakery. Located just three commercial spaces from your space in this extremely well located mini strip mall. And because you and your staff have literally been following this exact same pattern for at least the past three and a half years or more.
And you typically purchase a gallon of coffee, six or seven bagels lightly toasted w/cream cheese. And at least five donuts and three rather large pastries. And you and your staff are not only a first name basis with the two female sisters who own the place.
And some of the key staff as well.
Today Is Always The Best Time To Start Building Your Business Or Service For Long Term Growth!
You go in this particular day and pop the “Magic” question to one of the sisters.Huh? You ask. “Is it okay to periodically refer you new customers/business?” Typically you’ll get an emphatic yes 95-98% of the time on that initial front end question.
Then you proceed to ask.”And by the same token. As long as it doesn’t take away from anything you’re currently doing, both now and in the not so distant future. Are you okay with periodically returning the favor?” Again, statistically speaking. If you get a yes on the initial front end question. You’ll normally get a yes on your follow up back end question as well. (Typically 95-98% of the time.)
You find out typically, which day(s) of the week, (depending on) what season you’re in. Which are their traditionally slowest days And here’s what you or your major competitors initially propose. Strictly for hypothetical marketing purposes only.
Let’s say they reveal both Tuesday & Thursday (for whatever reasons) are typically their slowest days. So you find out what the actual hard cost of their incredibly popular “Big Gulp” beverage is.
And even though the sell it for $5.29 per cup. Their actual hard cost is just $2 dollars or X. So here’s what you or your major competitors want to inexpensively test.
Are You Curious To Know Or Discover How Much Your Business Should Steadily Grow Each Year?
It’s definitely an important and critically important concept to consider. Because depending on your current and future assets or resources. And whether or not your current business model really supports the opportunity to scale your business or service in any meaningful way.
And whether or not you’re currently transitioning from a one person solo-preneur. Into a potentially viable business or service, which now needs employees or constant reliable outsourcing. In order to continue your measurable growth.
Each business or service and therefore individual aspiring entrepreneurs needs or unique. So a one size fits all strategy will definitely fall short.But at some point. You” ll definitely need to at least have a basic concept, of how much realistic, year to year growth to expect.
Based on your specific business or services current strengths and weaknesses.
Who Knew Potential Long Term Opportunity Could Be Potentially Just Two Dollars Away!
You’ll buy the first two hundred or X number of customers, who purchase a “Big Gulp” drink.You’ll pay the actual hard cost of two dollars or X.And you know going forward, what at least a percentage of those completely -caught by surprise- customers will do.Right? Absolutely.
They’ll constantly brag to their? Take your pick:
A.) Co-workers.Both current and past.
B.) Closest friends.
C.) Closets family members.
D.) Closest current and future neighbors.
Look at all of this free, positive viral word of mouth and mouse exposure. These local customers will constantly provide a positive buzz revolving around this particular bakery. Right? Absolutely.
And unlike the $400 or X amount of dollars you or your major competitors spend on a typical PPC (Pay Per Click) ad campaign. Once you stop paying for your ads. Your campaign(s) come to a grinding halt. Right?
In this particular situation. They’ll constantly brag both on and off social media to anyone within ear shot. Coming up shortly in part two. You’ll discover “how” this incredibly simple marketing strategy.
Aids you or your major competitors in strategically growing your business.For literally pennies on the dollar.Fair enough? Great. See you in just a little bi in part two..
Don’t Ignore Or Neglect The Long Term Profit Generating Potential Of Lower End Products Or Services!
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
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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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