How And Why Being Resourceful Such A Extremely Valuable Marketing Asset!
So what readily comes to mind when you hear or rad the phrase being resourceful? Do you automatically think about a person or startup entrepreneur whose literally boot strapping any and every way they can? Because it can most certainly mean that’s the case.
Or what about an employee, regards of their current income. They’re constantly struggling to make ends meet. So they constantly have to resort to some creative ways to generate additional income.
Starting with but certainly not limited to emptying their garage with any and everything they’re no longer using. Then they quickly move inside.
And start selling they or their spouses, or live in significant others clothes, appliances and any and everything else they know or they’re pretty darn sure they can live without. Sound all too frighteningly familiar?
Once You Or Your Major Competitors Get A Grasp Of The Basic Marketing Fundamentals! (Entrepreneur There Are Literally More Untapped Marketing Opportunities They You Can Possibly Handle!)
Of course initially you really don’t believe that previous statement. That is until you’ve had a chance to do a little preliminary research. And ultimately prove it to yourself.
Say for example. And strictly for hypothetical marketing illustration purposes only. Most business owners, (small or otherwise.) And most service providers who only concentrate extremely hard on generating, potentially expensive first time customers.
So or later they or you are going to hit the proverbial wall of mega competition. (Huh?) Because constantly competing for outrageously expensive first time customers.
This is ‘what” a staggering 97-99% of your current and (far better funded!) future major competitors do. And they and you are officially neglecting, the potentially far more profitable goldmine of your business or service.
Which is your drastically underutilized long term back end revenue generating component of your business or service. Case in point. Once your all important first time customer clears the initial hurdle of purchasing from you and or your major competitors.
Entrepreneur you’ or they have in essence climbed the mountain. (Say what?) Getting them to frequently come back and purchase more often is riding downhill.
And getting they to increase their average amount they spend or average order size is now 5-10 times more likely. Don’t you agree?
Why Wouldn’t Or Shouldn’t Your Ideal Customer Or Client Not Want To Spend More Money With You More Often?
Provided you’re constantly over delivering value to them. They most certainly will. Case in point. let’s say you’re a local, non franchised mom & pop style bakery business.
And a returning customer walks in to make a purchase. Entrepreneur simply by implementing your evergreen “grab bag” marketing strategy. You can ethically bribe them to do as a bare bones minimum. The following three things pretty much all the time.
1.) First: First constantly take to social media spreading the word about you and or your major competitors totally awesome products or services.(And this includes posting selfies, videos and really cool photos.)
2.) Second: At lunch or their breaks with conversating with co- workers, colleagues or texting whomever. They’ll be constantly singing you and or your major competitors praises. In essence they will have become goodwill ambassadors.
3.) Third: They’ll not only spend a little more each time they come back. But rest assured they’ll not only come back more often. But periodically drag others back with them.
So How The Heck Does This So Called Grab Bag Strategy Consistently Accomplish So Much For So Little?
So glad you finally asked. first of all it’s designed to both inexpensively get and keep a percentage of your most loyal customers or clients to keep bragging about your business or service. Strictly for hypothetical marketing illustration purposes only.
You and or your major competitors basically have two grab bag opportunities. One for customers who spend over X and one who spend under X. (No matter “what” actually price points you use.)
So let’s say a customer comes in and spend $8.78 cents. They automatically qualify to reach into your grab bag for all purchases under $20 dollars or X. This particular grab bag has 98% of extremely time sensitive “bounce back” offer coupons.
Get Ready To Systematically Add More Revenue And Gross Profits To Your Bottom Line!
Your other grab bag offer is for every customer who (in this particular hypothetical marketing example only!) spends over $20 dollars or X. This particular grab bag has 95-98% better viral, positive word of mouth and mouse generating ethical bribes saving coupons. And two or X% of them are really awesome.
1.) First: Because at least one of them let’s your customer pay your actual hard cost for their total purchase. (No matter “how” much they’ve spent. (Say what?) Entrepreneur think about “what’s” definitely gonna start happening once or as soon as word spreads.
Both on and offline. How one of you or your major competitors most loyal customers spent 4140 or X at your bakery. Reached into your grab bag for customers who spent over X.
And got their particular purchase either at your actual hard cost or for free. Can you say positive, viral word of mouth or mouse tsunami?
2.) Second: Not only will word spread super fast. Like a rabbit farm growing exponentially because of as hormone diet. But you’ll also generate some additional front end revenue because of your evergreen, market tested upsell strategies and tactics.
So who can possibly argue against you and I being resourceful? It flat out makes long term economic sense, does it not?
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