Here’s The Critically Important Part Lower End Services Play In Growing Your Business! Part Two
Hopefully after reading and re-reading part one of this ongoing series. You too can appreciate the critically important role lower end products and services play in growing your business or services, right? Great. Good answer.
Now then. What specifically will or would you do in order to grow your business or service, strategically using lower end products or services? As you recently discovered in part one.
A two dollar investment per customer, ($400 dollars in total) per day. On a (JV) Joint Venture partner or cross promotional partners slowest day(s) of the week.
Your rather small investment can incremental investment. Can turn a small gross front end profit. Into a long term tsunami of long term gross profits. As you’re about to discover.
How Often Have You Seen Or Heard Of A $400 Dollar Investment Eventually Turning Into A Major Long Term Profits!
As you vividly recall from part one. Your single location retail appliance center. You eagerly invested $400 dollars per day or (at least) until your JV (Joint Venture)/ cross promotional partner, which is a locally owned Mom & pop single location, family orientated bakery.
Since you know their traditionally slowest days of the week are Tuesdays & Thursdays. And your ideal customer, who also happens to be part of your JV partners local customer base as well, 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. So you can easily afford to pay the actual hard cost of $2 dollars per customer for a “Big Gulp” beverage for these local customers.
And in this particular case, your $400 dollar investment allows you or your major competitors to buy 200 or X number of their daily customers a “Big Gulp” beverage.
Keep in mine, this Xtra large beverage of their choice typically retails for $5.29 per cup. Here’s the other part of your strategy.Each time the bakery (in essence) gives away one of these free “Big Gulp” beverages to every local customers who orders it.
The customer also receives a sealed envelop with the words “You definitely deserve this!” Written in big, bold red letters. Written on the outside of the envelop.
So you know these totally surprised customers won’t waste much time ripping these envelops open, correct? Absolutely.
Here’s Where The Element Of Surprise Works For You Or Your Major Competitors!
Inside these sealed envelops .Which BTW, the bakery owners and their staff, will have different ones for both their men and women customers. For example. Inside the sealed envelops directed at the women customers.
And both the owners and staff will know which is which, simply by the hand written capitol W or capitol M located in the top right hand of the envelop. Inside the ladies envelop.
These ladies will find two or three, extremely time sensitive gift certificates. One is for a massage treatment. Basically, if the ladies come alone. They only save 10% off the cost of the service at time of redemption of the gift certificate.
And the other extremely time sensitive gift certificate they’ll find inside the envelop, is from a local jewelry store. Once again. They can save 10 or X% off their very first purchase, up to $500 dollars.
However, simply for dragging a friend with them. Whose at least 18. They automatically save 40% off up to $2,000 dollars. Of course they’ll also receive an extremely time sensitive discount coupon from your retail appliance center. Bingo.
And they can save 10 or X% off any purchase up to $500 dollars if they come alone. However just for dragging a friend with them whose at least 18. They automatically save 40% off their very first purchase up to $2,000 dollars.
Plus they also receive an unannounced surprise gift. Which can potentially have a perceived value up to $94 dollars. Say what?
It’s Very Strategic Of You Or Your Major Competitors To Work Both Ends Of Your JV Partners Customer Base!
And by the same token. The local men customers of the bakery who order a “Big Gulp” beverage. Not only do they get it free on Tuesdays or Thursdays. Provided they’re one of the two hundred customers on those particular days.
But they also get a sealed envelop. And inside it.They’ll discover two or three extremely time sensitive discount coupons. One from a local jeweler, a local auto repair garage business owner.
And of course an extremely time sensitive gift certificate from your retail appliance center. And again. They only save 10 or X% off up to $500 dollars. If they come alone.
However, simply for dragging a friend with them whose at least 18. They automatically save up to 40% off up to $2,000 dollars. And rest assured some of these local men will not only drag a buddy with them.
But they’ll constantly brag, (both on and off of social media), to both their inner and professional circles. About you or your major competitors business or service.
And stop and consider this. Those 200 or X number of local customers. They all know at least 25 other local individuals, right? So 200 x 25 = 5,000 locals. And typically 30% of them or (in this particular case) 1,500 locals will soon become you or your major competitors customers. (5,000 x .30% = 1,500.)
And if the average spend among them is just $450 dollars each. You or your major competitors just grossed an additional $675,000 dollars. On the initial front end only. (1,500 x $450 dollars = $675,000 dollars or X.)
Hopefully now you better appreciate how your lower end products or services, play a critically important role in growing your business or service. Agreed?
Has The Thought Crossed Your Mind Of How To Grow Your Business With No Money? (Or very Little To Start With!)
For one thing. You or your major competitors have to stop neglecting, the long term potential scaling power, which is currently under utilized, when it comes to forming extremely valuable partnerships with select vendors. Both current and future.Huh? Stop and consider the untapped marketing opportunities or previously untapped marketing possibilities.
For one thing. Your best vendors. They have direct access to their current and past customers. Do they not? They also direct access to their current and future vendors.
You or your major competitors consistently gain access to at least 25% of these new audiences. And your business or service has just accessed brand new long term growth possibilities.Which you can’t even begin to appreciate.
Stop Wasting Your time And Financial Resources Trying To Do Everything By Yourself!
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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